India, and the Taste for Conspicuous Consumption

There was a terrific article on Inconspicuous Consumption in the The Atlantic that got me thinking about certain consumption patterns in the Indian consumer

The article essentially states that as one's peer group becomes wealthier, consumption:
a. becomes more inconspicuous (ie. bathrooms vs. watches)
b. moves from products to services (ie. from fancy cars to fancy vacations)

Given that India, overall, is a very poor country that would imply a very strong tendency towards flashy consumption; and would also likely imply that consumption is centered around goods vs. services.

The match with reality: mobile phones sell like crazy in this country; currently 4 million a month and holding.

Luxury vacations meanwhile are only now picking up. For most Indians, vacations mean either visiting families or going on pilgrimages. For many urban Indians, vacations mean junkets to shopping destinations like New York, London, Dubai, Singapore, Bangkok.

Building businesses around upscale services may not be a bad planning strategy for the future. Which are the likely professions? Psychoanalyst? Personal shopper? Keep your eyes peeled for anything around you.