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Why in News?
- Premiumisation recently in the news because many Indian companies and e-commerce platforms are increasingly shifting toward “premium” or higher-quality products (from FMCG to cement, tech gadgets, and beyond)
About Premiumisation
- Premiumisation refers to the consumer trend of shifting from basic products to higher-priced and higher-quality products.
- It reflects rising incomes, lifestyle changes, and aspiration for better brands.
- It is visible in sectors like FMCG(Fast-moving consumer goods), automobiles, smartphones, hospitality, and retail.
- In India, premiumisation has grown due to a rising middle class and urbanisation.
- It leads to higher profit margins for companies but can widen consumption inequality.
