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ONE INTERESTING OBSERVATION SERIES DAY #20 India's childcare product spending is still in its early stages. In 2023, it was only around ₹9,280-9,350 per child. But that's expected to grow 14% every year from 2023 to 2028 - way faster than mature markets like the USA (3%) and China (6%). Growth drivers - 🔹First, Indian parents are becoming more and more aware of how important childcare is. 🔹Second, there's a growing middle class with increasing spending power. 🔹Third and most important, the perception of childcare products as essential rather than discretionary is on the rise in India. Childcare products( age group 0-12 yrs) include: - Apparel (clothing, footwear, and accessories) - Consumables (diapering, bath & skin care, baby food etc.) - Toys & games - Hard goods (Prams, feeding bottles, nursery & safety gears) Seems like a good opportunity to build in this space as childcare is something that cannot be skipped. What do you think?