BNP Paribas sees India’s premium-consumption growth moderating as hiring and income growth slow
BNP Paribas expects affluent demand to continue outperforming mass consumption, but at a slower pace as hiring, income and credit growth ease. Lower inflation, GST cuts and gig-economy expansion could narrow the premium-mass gap, while D2C and quick-commerce competition pressures staples.
BNP Paribas expects India’s premium-consumption growth to moderate as hiring, income and credit growth slow, though affluent demand should continue outperforming mass consumption. Lower inflation, GST cuts and gig-economy growth may narrow the gap, while D2C and quick-commerce competition pressures staples.
Why this matters
No related recent signals were provided. BNP Paribas’s outlook highlights a softer premium-consumption trajectory even as affluent demand remains stronger than mass consumption.
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