ONE INTERESTING OBSERVATION SERIES DAY #20 India's childcare product spending is still in its early stages. In 2023, it was only around โน9,280-9,350 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 - ๐นFirst, Indian parents are becoming more and more aware of how important childcare is. ๐นSecond, there's a growing middle class with increasing spending power. ๐นThird 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?
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