India a price sensitive market

Today after having a long conversation with my customer turned friend, I thought of writing about India being a price sensitive market and how it affects artists especially from the paper crafting world.

Since 2006 when I got my first paying customer and till date, I have observed one thing - people are not sensitive to the quality of an item as much they are to its price. This clearly explains why Apple has such a tiny market share in India. It also explains why all those who aim to be as unique as "Apple" by providing quality and not quantity suffer in leading the Indian market.

Customers demand high quality low priced products. Most of us know that we can't provide that. Yet, we do compromise to achieve business at any cost. I am sure a lot of paper crafters must have got succumbed to this and either sourced cheap products or compromised their profit margins. Those who compromised on their margins must question themselves - why are you in business? If the business doesn't generate profit - how can you survive? How can you see growth for your business?  But for those who compromised on quality to provide a reasonably priced product remember that -

Individual artists who sell items at low price and companies who sell low priced craft products source their items from China. Yes, today a lot of products are made in China but does that mean they are  at par with quality? Wait to know more in my next article about "Why made in China doesn't mean quality"

Alas, remember you get what you pay for. So buyers and sellers please think twice before buying a cheap product. Especially when you are buying them with a purpose to last longer!

1 comment:

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