The mobile phone lesson
Its seems the four metros in India have crossed 100 percent mobile teledensity mark. Meaning, the number of mobile phone connections in these cities are higher than the number of residents. Now, despite the fact that in India statistics are always shaky, this one has important consumption behaviour implications.
Two, in fact.
That if technology creates products that enhance our lives, we will take it to it wholeheartedly. Mobile phones personalise conversations. Plus they help us communicate without the limitations of geography. And of course, they let us talk.
Also, if technology ensures that costs to consumers drop, they will up consumption. In India, falling rates see people talking more. Falling handset and connection costs see people taking to more than a single phone and connection.
The lessons? Its ain't 'new' products that are needed. Its products that understand our ways of life and help us enhance our experiences that will see mass adoption. Also, its products that fit within our means that again see an explosion in terms of adoption. And so if you keep those prices down, you will see greater levels of consumption.