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Market Opportunity: Modern Art in India: Let's decorate

by Brandi Moore on March 18, 2010

India is a Collectivist society meaning their preference is to focus their in-group.  The opposite preference is Individualism, where the focus from birth is forming a functioning adult who only relies on himself.  These preferences play out in living choices where Collectivists live in multi-generational homes while Individualists live alone.

In the past indians lived with their families until marriage when the new wife moved into the groom’s family house.  While they lived in these multi-generation environments their elders directed them to save for a future house one day usually around retirement.  It typically took an entire life time to save enough.

Things have changed.

As India’s industries grow, educated workers land positions with salaries that afford them ability to move to new cities and take on rent or a mortgage (with newly expanding credit availability). All of these factors have created a new market for interior design.

I visited one of these stores, Good Earth (goodearth.in), while in India in January.  The designs were raw combinations of traditional and modern design using elegant materials.  This market promises only to grow as Indians experience cultures outside of India (with the emergence of tourism) and start to crave similar design.

From a cross cultural business perspective this means several things:

  1. India is traveling outside of the US and seeking new ideas in design.  They will be attracted to hoteliers who decorate in modern ways.
  2. Home buyers are younger and oriented toward creating their own style for the first time in India’s history.  These buyers will be open to new ideas.
  3. Interior design is an emerging market in India that most experts point to beginning about  5 years ago.
  4. Indians continue to be collectivist in their preferences but are displaying these needs in more modern ways now that they have opportunity for income, job opportunity, and financial products (mortgages).

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