How Ultra-Rich Indians Spend Their Money - Kishore Biyani Explains India 1, 2, 3 

So basically people on social media who portray themselves as rich are middle class

Raj Shamani looks so out of place here.

Kishore Biyani explains the "Clustering" algorithm (in Machine learning / Artificial intelligence), which is one of the methods usually used to segment customer personas across India. This is a very good analogy, and in simple terms, he is able to tell how Indian customer demographics are.

What a stupid conversation....! Never confuse Consumption with growth. The GDP considers borrowing & consuming as Growth (like the West - USA & EU & see whats happening to them? Production & Trade surplus is the key to a good growth for the country not consumption. Value added consumption... just another fancy term for High margin product.

Raj Shamani bhai chup kar... detergent papa ne becha... uske around fake story build karke khudko cool dikhaata hai... fake guy

Mr. Kishore Biyani... You cheater...first return money of people who bought shopping cards and not yet got refund

3:10 Fundamental point made by Raj shows the difference in raj's India1 and Kishore's India1. Kishore India1 is income based while Raj India1 is spending based. For eg. Suppose I have 5Lpm salary, i won't go to pubs, or restaurant and keep spendings to minimum. But my friend with 1Lpm salary spends on travel, car, iPhone on emi. From consumption pov that's true India1. Aware + willing to spend.

Shamani has no idea of what is going on and what can he add to the conversation...

who is the guy that gave the example of his family? I see his point too! These guys were talking at a Macro level of the country (and it was truly eye opening). He was talking more at a micro level stat of an urban city like mine of Chandigarh. Have not been to India since 2018, but the podcasting space has truly matured. SUBSCRIBED!!

Kishore ji is a business dictionary for a customer, business consumption and enhancement in all manners. He is a legend and has huge knowledge and he will make and create you an entrepreneur if you meet him for 10 minutes. Kudos to all the team.

the podcast guy knows nothing about this topic🤣

Shamani just gets shunned 😂😂😂😂 That's the point ☝️ if you r only podcaster but don't own a business then this type of conversation is just a spectator wise

Raj Shamani trying too hard to fit in without right factss

Raj Shamani interrupting in the middle and making baseless arguments is hilarious!

Fantastic Nikhil. Great content on Indian Consumption and how to target India 1 to build Brands. Kishore Biyani only talks Insights . Top 100 cities contribute more to business. India 1 consumption is growing but India 3 will migrate to India 2 along with time which means FMCG, Consumer durable , Financing, UPI have big market to target big base of India 2

Mr. Kishore Biyani is great with Statistics & Analysis, but his company Future Group (Big Bazaar) failed big time in India, due to wrong decisions, and trying to grow very big very rapidly. Sorry, not a fan.

Instead of discussing how to create wellbeing, they are discussing how to increase "consumption". This is recipe for disaster.

Great insight into a country of 1500 million. Thanks. Unfortunate part is concentration of wealth is in 10% hands. India has very high %age of lower middle class which is still focussing on basic living and majority is supported by government.

I have lost 97 % of money invested in future retail..

Kishore is not in the mood to discuss. 😂😂

Highly insightful. This short clip help me realise the significance of government schemes for lower middle - lower - vulnerable class population, from housing to health to manufacturing. Thank you for meaningful insight

Nikhil shouldn’t call such people who don’t add value to the show like Raj. He is just not present and prepared

How ultra rich people spend money? They won’t tell us.

yeah sure, how does it matter how he spends. He wasted all the public money for his thoughtless business adventures and retail investors in Future group totally got screwed up. Did he even say, part of my wealth, I will distribute to those retail shareholders who have trusted me and lost money?

Good time pass vlog without much substance, I can say that as an Economist, who hs taught in univ, authored books, published by reputed publishing firms and working in fortune 50 global co.

It's really very unfortunate to see Big Bazaar on the verge of dying, no one really helps when you are in trouble.

Raj Shamani 😂🔫

Raj shamani. Tuje kuch nai ata. Apna muh band rakh.

Thanks man.. Learning a lot from these podcasts. Aspiring to start something new.. Just getting to learn from you guys' experiences.. Please do make some short clips like these, so that we, who has less time in a day to invest on RU-vid, get to know some good real things..

Nikhil a very good point for discussion. I think your one to one discussion with Kishorji will be excellent. The other person talking in between was actually breaking the flow

Transfer of wealth usually occur during market crash, so the more stocks drop, the more I buy, in the meanwhile I'm just focused on making better investments and earning more as recession fear increases, apparently there are strategies to 3x gains in this present market cos I read of someone that pulled a profit of $350k within 6months , and it would really help if you could make a video covering these strategies.

Raj Shamani is absolutely out depth vs Mr Biyani

Totally false and waste analysis.... that's why Kishor failed !

Bada Broker, despite having a huge client base, manipulates SEBI rules to exploit clients.

In a population of 130cr, u r discussing only 10% of them ..What happens to the rest?? r they not consuming.I think the myntra guy must be having a better data than Mr Biyani..U shoukd call Mr Nagesh ( ex Shoppers stop), he to understands consumers better.He can give more insights in buying patterns..

Nikhil I have been watching your podcast for quite sometime and I look forward to the same. I also appreciate your perspective towards life in general. Just one observation that I would like to share though I should not be and not allowed to as well. Be careful with your relationships as we have lost somebody extremely talented young male and was sacrificed in the name of relationship. My humble request please be careful.

Mensa guy just said “ya” for the first 5 minutes 😂😂

Biyani ji is himself bankrupt 😂

Somewhere between India 2 and 3 are India C (Chhapri class)

Shamani has such a valid point ! That could have been discussed in more detail ! A macro view vs a micro view of the same phenomenon ! This is gold .

tbh i always thought of like this about how some part of Indians live like singapore hongkok and other live like somalia congo

With this I am complete follower of Mr. Kishor Biyani in terms of market research.

A suggestion - Can you please use similar terminologies in the chat around the numbers? It will be more relatable that way. For e.g. there are multiple times where the # population is being described in crores vs. millions which is difficult to follow and convert in the head all the time. A regular listener may be able to do that but someone listening for the first time may take a lot of time to process.

"Kishore Biyani is sharing his insights and experiences, but I have firsthand experience working at Future Group in 2019, and the way things were managed was quite poor. I would advise him to focus on improving people management practices first. Additionally, my family invested in BB, and now that the owner is gone, our investment has lost value. Perhaps Kishore Biyani should prioritize addressing these issues before offering advice to others."

Narcos Mexico showed the late 90's and early 2000's. And that country is the benchmark for an upper sliver of India.

This podcast guy is such a misfit on this otherwise a rich and useful content. These podcasts should be of value to the end consumer and getting folks whose content is already flooded on the internet is not worth!! My First dislike for your channel

Mera 8 lakh duba hai...biyani bhagwan apko maph nahi karega

Good amount of India 1 consumption is not in India. They are shopping abroad. They go to Dubai, Singapore, US/EU for shopping. Given the size is as big Singapore like Mr. Biyani says, its a big loss. Because these luxury goods are not available in India and highly taxed.

Amartya Sen, Noble Economist said the same that parts of India are Island of California in sub saharan Africa. Good news is those Islands will increase. Hope they do.

Let Biyani speak dude.

According to me next 20 years are the really hard to india if u really want to see hights we have to taste the lows

I couldn't understand anything. I tried watching it again, but it didn't help. Please if anyone can, simply the whole point of India 1,2,3.

What is Raj doing ? 😂

We might need a statistical economic master class from biyani.

This kishore biyani himself is not clear in his thought process. He is leading the conversation & even confusing others. Tell me 1 thing he has made successful: spencers - failed Big bazaar - loss Pantaloons - total loss All through debt & couldn’t even service the interest. Someone give me also 1000cr as debt. I’ll also create anything & say I can’t return the money now. You sell the company i created and recover as much as you can. Meanwhile I’ll sell most of my shares & have a networth of 5000cr separte from any liability. Everyone will listen to my words also so carefully

Hard to believe these kamath brothers are not double P. H. Ds!!!!

Raj Shamani 😂😂 🤦

Raj Shamani kya kr rha hai yahan

Kishore Biyani is a failed businessman.

Pareto principle

Raj shamani clearly a noob among these PPL.. sitting with Mr Biyani is no joke 😂

There are legends here and then there's Raj Shamani😂

Nellore and Chittoor has lot and lot of rich people who made money on cities like Hyderabad, Chennai and Bengaluru. You should choose someother districts to explain.

I never buy from Hermes 😅😅😅 me too

Mr. Biyani is good with numbers, sensible and also IIM paasout. Why cudnt he save his company frm falling

charge tax from business not high worthy individuals they should be the builders for the nation who supports business creates jobs thru using services and also investing busineses!!!

yeh irani actor tumko ultra rich kis angel se laga

What rediculous analogy Shamani is trying to come up with!

Sounds like my class - where students are discussing without preparation - but working with preconceived opinions and random numbers - and finding it diffcult to understand but trying to agree with each other.

I don't understand what is the significance of this discussion?????

(low-poor Class netWorth: less than:10Lac),(mid-poor Class netWorth: greater than :11Lac),(top-poor Class netWorth: greater than :50Lac),(low-middle Class netWorth: greater than :1Cr),(mid-middle Class netWorth: greater than :3Cr),(top-middle Class netWorth: greater than :5Cr),(low-rich class netWorth: greater than :10Cr),(mid-rich class netWorth: greater than :50Cr),(top-rich class netWorth: greater than :100Cr),(ultra-ultra netWorth: greater than :500Cr),(ultra-ultra netWorth: greater than :1000Cr),(ultra-ultra netWorth: greater than :10000Cr).

Main Kishor Biryani dekhne aaya tha 🙏🏼😅

The simplest way to think about this - you have less than 10% of Indian households filing for taxes and about 5% actually paying taxes. In a country of 1.4B people, that’s approximately 70 million people. Even accounting for tax evasion, you add another 15 million to that, that’s 85M people. And that is India 1 aka the consumption segment.

Customer segmentation is not as simple as classifying them into India 1, 2,3. Age, education, gender, profession, urban dwelling, rural dwelling, hobbies, lifestyle, there are so many factors to segment a market. Just segmenting by income would get you no where!!!!! Marketing 101. Value added products are products that bring additional value to a customer, here the panel speaker thinks it’s when u are able to sell more!!!! Unbelievable this is the problem with Indian entrepreneurs, it’s all about making money in the short term and not really about creating a reliable brand.

Hi Nikhil, I thought in a pyramid (India 1,2,3) going forward middle part of pyramid will flatter more.... All in all middle class grow more in all aspects. All though very few will move to India 1 from India 2 and so the case for India 3.

@Kishore biyani- employee ka full n final settlement pending h 2021 se please employees who worked with u waiting for their hard earned money

I don’t blame middle-class Indian parents for sending their kids abroad for a better life. I currently have a kid from Mumbai living in my rental property who’s currently working in an entry-level position in IT making about 54k CAD which is not bad considering he’s only 24. However, the amount of pressure he receives from his father (civil engineer) and mother (elementary school teacher) who call him daily is on an unhealthy toxic level- they demand him making mid six figures which is very difficult to do without at least a graduate degree and 7-10 years of experience in the field. Even then most IT guys don’t make that much unless they’re in mid upper tier at one of the top 5 tech companies. He’s currently a PR and can legally sponsor his parents and 2 siblings but his income (under sponsorship guidelines) must be at least almost 70k and for at least 3 consecutive years. The cost of living here is very high. 70k is barely enough for 2 people to survive let alone for 5 people. I can’t even imagine what this kid is going through..😢

Hey Nikhil, Great shows by the way I have few points by the way for future videos- 1. For someone growing a startup, how the indian demographics and consumption influence the business. 2. What can be done for India 1,2,3 to maximise their consumption 3. What trends can we expect in 5 yrs in terms of Stock Market and Financial stability. 4. How can Nris benefit from this financial bull run of India. Thank you

Anybody who makes less than 50LPA In India without any savings or investment knowledge is Poor in Today’s India..

Rama Bijapurkar had come up with this INDIA 1,2 and 3 segmentation. It till date is the most articulate way of explaining how the population is divided. Caste/Religion is only a political criterion. Your TAM cannot be based on the 140 cr calculation but more on the India 1 count.

Biggest flaw in Rajs’ comment was his father was a father of India 1, if he compares same family of India 2, then he would understand how much premium lifestyle is father is having

Gaga hai shamani bol ke

Raj Shamani sach mein nhi fit ho pa rha, he is trying hard.

Can anyone explains india 1/2 thing and Singapore Poland thing co relation .. I m still confused in that comparison

Hey , Nikhil its very confusing podcast rm your library , i feel let the speakers tell them at-least one subject to a certain level of information rater you are bombarding with random questions.. i really appropriate your communication skill but :)

superb.....soooooo much value add just sitting at home....thank u soooo much NIKHIL!!!!! god bless!

Koi Raj ko bhi bolne do yaar ,

Raj Shamani himself is over consuming- the guy has one smart and one analog watch in both this hands ☠️ I see India becoming the next America in 15-20 years down the line

It's strange to see that all India_1 guys are only asking to know more about only and only India_1 costumers.

Why does this dude keep saying YEAH YEAH, so irritating

Its hard to get the statistics correctly in India.. there is so much cash direct exchange of money which is hard to account.. example vegitable sellers fruit sellers or people selling stuffs on rehri.. and most of them doesn’t disclose correct figures of their income..

Only if that guy would stop saying Yup! Yup! every 2 mins this is a good content

A bunch of rich guys trying to figure out how to peddle their products. Interesting conversation but it cannot be anything else than a hypothesis that tries to explain what works. Reality of Data is that you can explain it in multiple ways and some of it sounds intelligent, but means nothing and translates into humbug

That raj shamani feeling like stuck at wrong place , with intelligent people, who can speak truth without fear , can't continue his propaganda 😅

Brilliant Nikhil and team! 👌👌 Ignore all the armchair critiques who never built anything worthy in their lives

Raj is just a ussless member sitting there where the seniors there dont respect his views 😂😂

Kishore Biyani knows too much about consumer s. He is dangerous.

It is very irritating to see Anant interrupting Kishore multiple times. Nikhil needs to set up the rules during the podcast.

Consumption is decreasing...

The insights are very good but then this is just to kick start a business and sustain for a given timeframe of say 3 to 4 years. If one likes what they are doing and wants to continue for a longer term then such business will have to calibrate on this approach periodically and see measure the performance.