India is going to witness some big changes in next ten years. You will be history, if you don’t change with the times. Take a small quiz to find out if you are future ready?
1) Current middle class is 50 million strong, which will grow to 350 million in next ten years. This will open tremendous opportunities. Do you have a game plan to take advantage of this segment with surplus disposable income?
2) Modern retail which is contributing 5 % to consumer sales will grow to 25 % by 2020 i.e. 5-fold increase. The comparative figures of sale in modern retail for US and Europe are 80 % . Do you have products or services ready for this segment?
3) The future belongs to women. In future, 83 % decisions will be taken by women –never mind if it is consumer item or electronic gadget. Even if you are selling cars, women will influence the decisions 60 % of the time. Are you realigning your strategies to address this new reality?
4) India is young country now. But after 10 years, 50 years plus segment will have the most disposable income and willingness to spend. Are you making products for this segment ?
5) Three new technologies will change the way we shall do business tomorrow-Internet, mobile communication and cloud computing. As per Google estimate, Cloud will reduce your IT costs by 300 % and this technology is meant for small business. What are you doing about this?
If you are not thinking about these new realities-you should start worrying and losing some sleep.