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The Ipsos Generations Report 2024 reveals that many Indians have limited awareness of generational labels and are often unsure of which generation they belong to. The report highlights the business opportunities brands may miss by overlooking mature adults and underscores the importance of recognising demographic shifts beyond political considerations.
The report emphasises the need for decision-makers to customise their strategies to address the unique characteristics of each generation, cautioning against one-size-fits-all approaches when considering generational differences.
Among all the markets surveyed, Indians displayed the lowest awareness of generational labels, with only 8 per cent recognising Gen Z, in stark contrast to the high awareness levels in Turkiye (81 per cent) and Indonesia (78 per cent). Awareness of Gen X among Indians was similarly low at 7 per cent compared to 73 per cent in South Korea and 65 per cent in Canada. For the boomer generation, awareness in India was 5 per cent, far below the 73 per cent in the Netherlands and 70 per cent in Canada. Additionally, awareness of Gen Alpha (7 per cent), the pre-war/silent generation (6 per cent) and Generation Gamma (7 per cent) was also low among Indians.
Ashwini Sirsikar, Group Service Line Leader, UU & Synthesio, Ipsos India said, “Gen Z are stressed, anxious, bored and lonely despite all their connects on social media, this is possibly due to the blurring of the virtual and real world. They also end up putting a lot of pressure on themselves-constantly comparing their achievements with others and getting affected by the number of likes, shares, followers they have on social media. However, what is interesting is that they are cognisant of their anxiety and stress and seek out help for the same.”
When respondents were asked to identify the generation they belong to, 61 per cent admitted they were unaware of age-based generational labels while 20 per cent stated they didn't associate themselves with any generational label. The remaining respondents showed low identification with specific generational cohorts - four per cent identified as Gen X, four per cent as millennials, three per cent as Gen Z, two per cent as baby boomers and 3 per cent as Gen Alpha, among others.
Geeta Lobo, Country Client Service Line Leader, Ipsos India said, “As global demographic reality shifts, the spotlight is on the growing senior population. In India, Gen X is transitioning out of the core consumer definition for most sectors. Yet, affluent Gen Xers have both the means and the desire to spend. It's time for businesses to target them strategically.”
The study emphasises the importance of tailoring communication strategies, product development and service delivery to resonate with the values and expectations of different age cohorts. For those under 30, it suggests leveraging their digital fluency, commitment to social causes and addressing their diversity, financial concerns and mental health challenges. For mature adults, the focus should be tapping into their financial stability and catering to their preference for health-conscious, practical and frugal products. The study also calls on businesses and policymakers to actively engage with each generation to unlock their full economic and social potential.
The report also examined population pyramids with a particular focus on India across four key periods - 1950, 1980, 2024 and 2050.
