New Age Boom to Offset Paint Sector Slowdown: Discretionary Spending Forecast
New age businesses are poised to significantly boost India’s discretionary spending universe, according to a recent report. These businesses are projected to experience a remarkable 49 per cent year-on-year growth.
However, this positive trend could be partially offset by slower growth from established players in the paint industry. This sector’s sluggish performance is expected to act as a headwind for overall discretionary spending.
The contrasting growth trajectories highlight the dynamic shifts within India’s consumer market. The rise of innovative businesses is creating new avenues for spending, while traditional sectors face challenges adapting to evolving consumer preferences.
This development holds significant implications for investors and policymakers alike. Understanding these diverging trends is crucial for navigating the complexities of India’s burgeoning consumer landscape and formulating effective economic strategies. The government’s focus on promoting digitalization and supporting startups could further amplify the impact of new age businesses on the economy.
