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

Watch the full episode - • Ep #11 | WTF Goes into...
Listen to the full episode on Spotify - open.spotify.com/episode/7Hz9...
Listen to the full episode on Apple Podcasts - podcasts.apple.com/in/podcast...
Nikhil Kamath - Co-founder of Zerodha, True Beacon and Gruhas
Follow Nikhil here:-
Twitter / nikhilkamathcio
Instagram / nikhilkamathcio
Facebook / nikhilkamathcio
Linkedin
Koo www.kooapp.com/profile/Nikhil...
#nikhilkamath #WTFiswithNikhilKamath #branding #marketing #startups #enterpreneur #entrepreneurship #business #fashion #home #lifestyle #consumerbrands #performancemarketing #growthhacking #bigbazaar #central #mensa #figuringout #D2C #ecommerce #Nikhilkamath #Podcast #WTFiswithNikhilKamath #WTFisPodcast

[@shreyanshmishra8295]

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

[@gokulakrishnan6628]

That doesnt work like that......there are 2 type of rich people.....1st type is the rich people who have a lot of responsibilities and most of their wealth is in the form of stocks,equity etc.....they dont show off because they dont have huge money and by chance if the company declares bankruptcy they would be going to broke,so they dont show off because they are constantly working,and they dont have privacy too.....2nd type is the one who earns liquid cash,they have money,they choose to be what they want to be,they dont have any compulsion to work like 1 st type,they know how much they have and how much they make....so they show off.....more than everything, showing off is their personal opinion....they are showing something they have earned....

[@akashtilokani2000]

Haha ! Most of them have become middle class just recently.

[@samk6051]

No they are rich... There are only rich and poor, there is no middle class... Middle class is terminology made to pacify poor people

[@rahula4815]

It also shows how hollow the superpower narrative is. It would take decades for us to become developed country.

[@akashtilokani2000]

@@rahula4815 We actually should want to develop, not show that we should develop. Show off country ours is. I mean for those who can.

[@srikanta80]

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.

[@MrAshutoshSamal]

Clusters, cohorts, segments all same. Different jargons for same data.

[@tejasshinde7236]

Yeah, make sense 👍🏻 Also there is one concept called Basket analysis, I think its also related to this.

[@archiveme7218]

9:26

[@thereckon3592]

@@user-ux3he1yc4v Anyone who knows why or what it really is in depth wouldn't use words to "sound cool" but to convey the meaning as best as they can.

[@equinoxgaming6699]

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.

[@ayushagarwala1197]

I too think the division is/should be based on Expenditure....Ultimately there the value added business will work

[@rubiaraghuvanshi4236]

Great point . But also : the person with income 5lakh pm will also spend his money on something may be less on travel/I phone but may be more somewhere (maybe his children go to more expensive schools).

[@rubiaraghuvanshi4236]

Actually people have different priorities. Also their priorities change with their age.

[@Kathakathan11]

My family income has gone up, but my expenses as percent have gone down. But for just one wedding as a guest, I spent like crazy, despite i wanting to not speaks at all. It’s crazy here. My mother got me 4 dresses, when I already have many. It’s just lame how social stigma works. I wore my old festive ethnic wear for my best friends birthday and she was angry that I didn’t shop anything special for her special day. 😂 Here I save money and there these stupid movies have taught us to be more consumerist

[@jetpark3743]

5L is rich

[@vivekpuurkayastha1580]

Raj Shamani looks so out of place here.

[@Kathakathan11]

That’s fine

[@revenant8061]

Watch the entire episode

[@vairavant4735]

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.

[@user-lz4xq6zy2h]

Those who looted money becomes legends wow !

[@g319]

Lol, come n invest in his future group.

[@ashethia2]

I AGREE TO YOU, BUT HE WILL ALSO MADE MANY ENTREPRENEURS BANKRUPT WITH HIS POLICY IN PLAY, UNPAID VENDORS OF KISHORE BIYANI LIST IS LENGTHIER THAN ENTREPRENEUR HE CREATED, I STILL DONT DISAGREE WITH YOU BUT HE LOST HIS FOCUS OF RUNNING A GIANT STORE, TAUGHT EVERYONE ABOUT MULTI-RETAILING CONCEPT AND LEFT THE GROUNDS.

[@mrinaldesire1987]

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

[@Lafanga-ib6lb]

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

[@pankajbisht2587]

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

[@sachinkarmarkar1682]

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

[@sinjonamitra2160]

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 KZbin, get to know some good real things..

[@AnirudhKapoor90]

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!!

[@rahulmore4584]

He is raj shamani. He also run podcast channel

[@AnirudhKapoor90]

@@rahulmore4584 didn’t know. Thanks

[@yuvromu]

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

[@pradhyumansingh07]

Please watch the entire podcast you'll be shocked....

[@prasadds346]

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

[@sam271183]

Excellent podcast Nikhil.. packed with insights.. thank you for sharing!

[@avpk729]

thanks for making this public. these are some actionable insights

[@rajivnautiyal4436]

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.

[@GiveAndItShallBeGivenBack]

Right, there is a lot of disparity. But from a money making point of view, business leaders will focus on the cream only, that's where the dough is. Another approach could be to somehow solve the problem of poverty and then see the how much money can be made from this New affluent India\Bharat.

[@ankitagrawal1343]

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.

[@kshitijbansal3899]

Hello Nikhil, sincerely appreciate you for congregating the best brains and for compiling the best of their insights.. Kind regards

[@kaonashi93]

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

[@rahula4815]

Also how poor the India is and how hollow the narratives of India being superpower is. We will get there but will Take decades.

[@kaonashi93]

@@rahula4815 your comment is irrelevant but what to do everyone has right to free speech. Internet is good at least we know who the idiots are.

[@thereckon3592]

@@kaonashi93 Wut?

[@pulkitkaushik]

@@rahula4815 obviously it takes decades to become a superpower and it's not a hollow narrative, it takes a lot to unify a country as big and diverse as India to work in a synergy. Idk why are you so pessimistic about it.

[@rahula4815]

I am not pessimistic, if we live in the dreamland then we lose the reality touch. We need to know where we are to know where to go. All the election narratives need to be taken with reality pinch of salt. @@pulkitkaushik

[@harshadchopade4655]

Mad insights. Every word spoke out of Kishore Sahab's mouth felt like gold

[@akxn2162]

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

[@coastofkonkan]

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.

[@indiancourthearings9699]

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

[@boohaahaaa-mq7lu]

Kishore Biyani is a scamster and fraud.He does work using small scale people and then doesn't pay them back. What he is reaping is karma of being a fraudulent human being. Even Foodhall closed down because he doesn't know how to manage money. Nobody will lend future group money because he is a scam

[@sonuEEE]

This guy just knows how to play with loans

[@sapkyoshi]

Its called market competition@@boohaahaaa-mq7lu

[@user-kn5wj7jz7h]

Nitin sir, you have done a great social service by making this channel... you are uplifting the future innovators of this country who live in tier 3 areas

[@sagarchauhan389]

Thank you for this type of content.

[@kirankrishna8756]

Thank you for making this valuable content. 😇

[@ameyapathak2008]

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

[@aaryansharma2036]

I think you should watch the full podcast and you’ll be shunned by Raj’s brands and his analysis of market.

[@RahulKumar-py8fz]

This is what a healthy debate looks like...Shamani is young....Kishore saab had loads of experience. If that counter is happening in a healthy way, how can you call that shunting... Kuch bhi matlab.

[@faizanusmani1039]

😂😂😂😂😂

[@varunreddy7124]

Love your style of knowledge pulling, which helps most of the young entrepreneurs.

[@BigDataLogin]

interesting and useful insights - this episode

[@akashtilokani2000]

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

[@vegtadka6600]

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

[@maheshchandradixit5077]

भई यह किशोर बियानी केवल अपने शेयर होल्डर ही नहीं वरन् प्रॉफिट क्लब कार्ड होल्डर का भी चोर है

[@shahdhairya8223]

Us bro us

[@binaysharma9853]

😂😂😂😂😂😂😂

[@binaysharma9853]

Hota aisa koi nhi ... Bante hai sab bhole.... Gyan hai enka ek no... Lekin stock hai enko chode😂😂😂😂😂

[@preetheshdsouzapreepro9042]

Same..

[@prashantsinghchauhan1335]

Kishore is not in the mood to discuss. 😂😂

[@seeker816]

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

[@viralmody9772]

Great Video, do you have the demographics and statistics discussed in a graph form that you can share ?

[@vijaydev5569]

Very interesting the classification of the market

[@shivamrai1179]

"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."

[@Manvith-vm1sl]

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

[@durlovesaikia]

What's the name of the store they talk about towards the end?

[@badshag8289]

super analysis

[@saheelgandhi8451]

Need more like this

[@RahulGupta-rt1hs]

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..

[@p-n-subrahmanya]

Hi, can you share data and source for the same.

[@MrReon1806]

What was that brand name he was referring to in the end?

[@abhijitmukherjee2472]

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.

[@manasgupta8466]

Hey Nikhil, Always an admirer. Wanted to know more about per kilo realisation in future episodes.

[@bijucvcv268]

Super.. One more episode with KB

[@abhaykapoor]

Can someone help me understand how can I get reliable data for market research about consumption pattern, demographics and everything that matters in the list? Basically I am curious to know about source from where these guys in the podcast are getting such data, is it from their day to day operations in the market or there is something I am missing on.

[@dibyayan388]

It must be their own data. One of them owns Myntra and the other guy runs Pantaloons and Big Bazaar

[@sudakshinanandy1535]

Excellent! Lucid

[@unnyradhakrishnan238]

What is the research Mr. Biyani is referring to? Is that available in public domain? Can a link be shared please ?

[@sahilsah457]

you may refer blume venture annual report 2024

[@praveenbhat6648]

Good discussion with data points. Just one question, why Raj was wearing two watches….just curious… or am I been mistaken

[@TheTiwarir]

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.

[@abhijitmali]

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.

[@hassanmoynul4601]

To other participants please listen to Mr Kishore ,he is so practical so experienced ! So try to understand him

[@saurabhsharma14197]

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

[@nikhil2211986]

good show

[@dhritimanhazarika]

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 .

[@vinav100]

That was not the point though.

[@appmaster7808]

Can u explain how this is micro vs macro..cause in the example he cited all his family members have access to all the products but his father just chooses to use less products and he chooses to use less than his brother (choosing being the key) But india 2 folks can barely or rarely have access to many of the india 1s choices...its not that they dont want to..they cant ..same for india 3 right? Thanks

[@mayankdhyani6015]

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

[@warhammer40king]

the podcast guy knows nothing about this topic🤣

[@Padmanabham.]

He's just 25 years old

[@warhammer40king]

thats gangsta tbh@@Padmanabham.

[@Padmanabham.]

@@warhammer40king indeed

[@deepumirwani1978]

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.

[@sonaliv1489]

What happened , why did it fail?

[@sumedh235]

​@@sonaliv1489 Chasing growth at all costs by funding the growth via debt. Debt then becomes too much and then u default on the debt and the company goes under.

[@leonardarwin]

​@@sonaliv1489due to increase in debt and the failure reliance future group deal

[@syedzaidi5465]

Nikhil please make a program on danger of users of India 1 category becoming India 2 with AI taking the IT jobs. By how much. What are the mitigation steps that could be taken.

[@userkr5479]

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

[@rookiej5587]

Well then he'd have to ignore Biyani 😂

[@LakshayIdiwal]

Best thing on the internet

[@renjurox97]

Need to reach Singapore

[@suhailmahedavi2204]

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

[@kvs819]

what brand was Kishore talking about at the end? I did not catch the name - RMS something? thanks!

[@durlovesaikia]

I think he was talking about Hermes

[@ramboshreesh]

We might need a statistical economic master class from biyani.

[@mohittrivedi753]

Hey, are there any books of statistical economics?

[@choudharyvijay1989]

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

[@techunboxed5641]

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

[@debanikgoswami4834]

It has to do with standard of living .

[@Ansh_bhuwalka]

Biyani ji is himself bankrupt 😂

[@akashtilokani2000]

Will increased liquidity ensure increase in consumption in India is my question?

[@prateeksrivastaw]

In the end was kishore talking about raymond?

[@jaypalnitkar4400]

Hi nikhil ..also host a podcast with us 30ish plus mid youngsters

[@jeevankg]

Is there anu future for Future retails

[@nntta29]

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.

[@rarerabbit28]

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

[@arundesai9006]

7:16 is it monthly income

[@soumyadeepdas1536]

Truly amazed to see the biggest sarks in the business sharting their wealth of wisdom and perspective!!!

[@vant4u]

That's an interesting way to put it. 😂

[@jamn610]

Sharting? 💀💀💀💀

[@dcmhsotaeh]

Shark

[@aashishchandra4066]

Shimani is like yeh kya bol rahe hy😂😂

[@user-rm1kj4jm5l]

Raj Shamani is absolutely out depth vs Mr Biyani

[@pranayk37]

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

[@anusuraj4458]

He kinda looks like u😅

[@pranayk37]

@@anusuraj4458 Hahaha i wish i was that accomplished. Not to mention the hair

[@coastofkonkan]

Let Biyani speak dude.

[@mssumitrapal]

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.

[@vangujral]

1-2

[@greentv24]

Raj shamanai instant makes many stories

[@Sajteman]

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.

[@shashankke250]

To understand what is ur Market size

[@sarcasticmallu_1]

so what he is telling is india 1 to be that audience that has a high net income, to afford maids and household helps, India 2 to be an audience that has relatively lesser income (sort of middle class) and India 3 to be on the bottom strata of the society in terms of income. So he is trying to explain the consumption pattern for all these categories

[@user-wy5hq9zr3y]

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.

[@sohanmishra9155]

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

[@g319]

He can give good lecture on how to take loan, then how to get default, then how to get ridoff from the loan by knocking IBC.

[@uity12]

Well india 1 singapore is definitely cash cash and more cash... nothing online. And that cash is largely illegal. House cash, land cash, even t shirts in upmarket mall is all cash.

[@essm4179]

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.

[@rookiej5587]

They are businessmen, not policymakers. They are after profits not wellbeing.

[@MrVipulL]

Kahan se, kaise aur kitna paisa bana sakta hoon...

[@Sanjhi_Mitti]

Nikhil do one podcast only with Kishor, here his voice is crowded out

[@sssutube1]

The video name does not match with the content much. But good insightful info

[@OmeySLad]

yeh irani actor tumko ultra rich kis angel se laga

[@srinivasanrajagopal9062]

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

[@demtalostsoul8565]

Consumption is decreasing...

[@jovanboles4584]

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.

[@arvindvishwakarma3706]

Sure, there are loads of ways to make a killing right now, but such high volume near impeccable trades can only be carried out by real-time experts.

[@ruinkk9098]

Having an investment adviser is the best way to go about the market right now, especially for near retiree's, I've been in touch with a coach for awhile now mostly cause I lack the depth knowledge and mental fortitude to deal with these recurring market conditions, I nettd over $220k during this dip, that made it clear there's more to the market that we avg joes don't know.

[@cabbage8562]

Impressive gain! How can I get your adviser please, if you don't mind me asking? I could really use a help as of now.

[@swenhofmann5262]

@𝗡𝗮𝗻𝗰𝘆𝗲𝗱𝗶𝘁𝗵_𝟭

[@swenhofmann5262]

*TeleGRAM*

[@niteshkumargupta8658]

Somehow over consumption and over consumerism is being glorified on the pretext of economic prosperity but no-one is bothered by the harm the environment is facing ... Put words organic/ green /smart/ cruelty free and the same products can be sold at higher prices

[@jaigurudevkishorekumar]

Team vs Kishore Biyani 10 words vs one

[@rajdeeppatel9151]

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