In 2024, premium consumption sees growth despite slower car and smartphone sales. SUVs and Rs 10 lakh vehicle sales rose 13%, with Maruti Suzuki up 20%. SUVs formed 63% of sales (Society of Indian Automobile Manufacturers). Premium smartphones (Rs 30,000+) and large TVs (50-inch plus) grew, driven by Xiaomi, Motorola, and Google (Counterpoint Research). Amazon India’s 5G sales hit 81%, driven by no-cost EMIs. Premium FMCG categories, driven by younger consumers, also grew, with washing liquids seeing a 50% volume rise.
