Young salaried Indians to drive consumer durables market to Rs 3 lakh crore by 2029

NEW DELHI: As India’s consumer durables market is expected to grow at an 11 per cent compound annual growth rate (CAGR), reaching Rs 3 lakh crore by 2029, India’s salaried class, especially young professionals, will be the driving force of the sector, a report said on Friday.

The report from GI Group Holding said that young professionals account for 37 per cent of fast‑moving consumer durables sales and nearly 45 per cent of financed purchases.

Around 74 per cent of Gen Z consumers use EMIs or ‘Buy Now, Pay Later’ options. Product features ranked as the top decision driver for 68 per cent of buyers, followed by reviews at 61 per cent, price at 59 per cent and warranty at 55 per cent.

"Around 73 per cent of buyers continue to opt for value‑for‑money choices, but nearly 70 per cent are willing to invest in mid‑tier or premium products when performance justifies the spend," the report said.