AN ANALYTICAL STUDY ON THE SHIFT IN CONSUMER PREFERENCES FOR TANGIBLE GOODS IN INDIA OVER GENERATION

Over the past six decades, consumer preferences in India have undergone a remarkable transformation, shaped by economic development, globalization, rapid technological advancements, urbanization, and rising disposable incomes. In the earlier decades, Indian households largely prioritized the purchase of essential tangible goods such as food, clothing, footwear, fuel, and other basic household necessities. Consumption decisions were primarily driven by need rather than choice, as limited purchasing power and restricted availability of branded products, consumer durables, and automobiles constrained spending patterns.The economic liberalization of 1991 marked a significant turning point in Indias consumption landscape. With higher income levels, a growing middle class, and greater access to domestic and international markets, consumer behaviour began to change considerably. Todays Millennials and Generation Z exhibit a stronger preference for a wide range of tangible goods, including smartphones, consumer electronics, branded apparel, automobiles, premium housing, and lifestyle products. The rapid growth of e-commerce, social media, digital marketing, easy access to consumer credit, and increasing brand awareness has further accelerated this shift, making purchasing decisions more informed, aspirational, and experience-driven.