Mirror Mirror on the wall, who is the cheapest of them all?
Today’s world is the world of consumerism . “Access,” even in the most economically disadvantaged areas is less about the basics. In fact, there is a thin line between what constitutes as necessity versus luxury. The farmer wants a mobile to listen to Radio1 94.3; the housemaid in Bandra wants a TV to watch her favorite soap opera; the watchman in Electronic City aims to get a car one day. With India’s massive consumer base of a billion strong, the economy of scale as a perennial cliché kicks in as predictably as ever. So there is nothing new in the fact that new technologies can become accessible at a faster rate in emerging markets than its western counterpart. What is new however is that products today are being developed from the start to be accessible – in one word – CHEAP . Patience is a thing of the past apparently. The new consumer has made the economy of scale redundant here. The burgeoning middle class laps up the Tata Nano , the people’s car at $2500, an unprecedented fi...