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Your perspective. I think it is making people dumb. Do you know how much of this quantity is sold on emi basis. See the current saving rate per household. There was a post regarding recovery rate of iphone in us vs India. For us it's about 20 days, in India it more than 2 months.
Is it?
A lot of our T2 Bros have made shit tons of money from property price inflation. Not to mention our farm Bros and lots of small business owners don't pay taxes.
EMI may just be a front for laundering all that black money by making cash payments to their local PSU bank branch.
Can't say about tier 2, but Tiktoker effect is heavy here
Income Equality is an encouraging sign. But there would be few cases of stress as well where people are buying because of the FOMO and ambitions lifestyle and getting into debt traps.
Fair enough!
Their income is mostly from agri. Even medium size traders have a small agri land holding to evaded taxes. When you have a good income which is tax free why not iPhone , they can even spend on burning cash for warmth.
Most likely due to wfh population
Unfortunately they are creating generational debt and falling for loan sharks too.
Not when most of it is on emi
The urban high class people don't need an iphone to prove their class
Tier 2 ppl are now playing that showoff game with fake insta stories and happy rich life. This is not good in general, they may have unrealistic expectations in future.
Modi hain toh mumkin hain