With the Indian rupee depreciating to new lows against the dollar, Indians are expecting the worst. They’re anxious about shelling out 10 to 15 percent more for an education abroad and about paying more for both essentials and luxuries like imported chocolates. Now the Indian consumer will have to think twice before getting her hands on a ritzy new gadget or car. With the monthly expenditure of the middle class increasing by almost 20 percent, there is tension in the air and fear in people’s hearts.
Indian dairy producer Amul, known for its tongue-in-cheek advertising on current issues, illustrates the angst felt by the Indian consumer. An ad shows the iconic Amul girl in a sinking boat made of rupee notes, trying to grab onto a rupee. The headline, loosely translated, means “Save me from my rupee.” The sardonic sign off, “Valued highly,” adds to the dark humor.
The brand is clearly in tune with its consumers, as the pinch is being felt by every pocket. With the cost of imported raw materials, crude oil, medicines and fertilizers going up, all sectors are getting affected and in turn are affecting the consumer. Consumers are bracing for the actual brunt, which will be felt in the coming months.
Photo Credit: Amul