Data is the new Oil – All your marketing decisions can only be based on data. One cannot take a decision with a random thought. It has to be taken from a gap or identifying a problem from a data point. Activate your right side of the brain to come to conclusive decision as to why you are doing what you are doing. I am going to share a ‘GOLD MINE’ with you. A Book which will have all relevant data points for 2020 which can help you in taking your relevant decisions. Irrespective of the industry you belong there will be something for everyone.
About the Book:
It’s the Data book by State of India – 2020 Edition. It consists of all relevant data points of India. See below the index content page to understand what all data points I am going to share. From population, GDP, Agriculture, Businesses, Public Sector & more.
Here I will give you a small example as to how can this data be useful to you. Lets take an example. You are planning to start a garment business for kids and you want to figure out what is the universe you can target and what is the potential in the market.
Data Point 1
What does the Data say for your garment business for Kids:
As per the data we can see the market is growing, the spending power is growing and there is potential in the market. Buying clothes is a luxury item. The household income is also growing. It has grown by 34% approx. in 5 years. Hence it can be concluded the purchasing power is there.
We have to grill deeper to understand the universe better. As of now it stands at 5500 cr. Market.
Data Point 2
What does the Data say for your garment business for Kids:
With the above graph you can see the children growth rate is negatively growing. It is shrinking by 7% in every 5 years. As of now for 0-14 years it stands at 26.2% of 1380 = 358 lakhs.
Year | 2010 | 2015 | 2020e |
Children 0-4 (%) | 10.4 | 9.1 | 8.5 |
Growth Rate(%) |
| -12.50% | -6.59% |
Children 0-14(%) | 30.8 | 28.4 | 26.2 |
Growth Rate(%) |
| -7.79% | -7.75% |
Data Point 3
What does the Data say for your garment business for Kids:
The birth rate has been constantly decreasing in last 20 years. From 2.6% to 2.0%, Since its a declining trend. Hence you can come to consensus that the market is not great, if you are there, you can exit gradually to a different age group or start exporting outside India where there is good potential.