Do you know where you (or your household) stands in comparison to entire Indian society in general ? Most of often than not, we classify based on economic situation, essentially lower class, middle class, upper middle class & so on… At a very high level this classification is ok. However, there are many parameters based on which the real Socio-Economic classification is / can be done. Many factors come into play, such as Education, what household items you own, Land ownership etc.
In a bid to keep pace with the fast-evolving economic outlook, consumer attitudes and preferences in the country, the Media Research Users‘ Council (MRUC) and the Market Research Society of India (MRSI) recently unveiled a new Socio-Economic Classification (SEC) system, under which all Indian households will be now classified.
The New SEC is based on Educational Qualifications of the chief wage owner in the household; and the Number of Assets Owned (out of a pre-specified list of 11 assets). The socio-economic classification is then segregated into 12 groups based on inputs on these 2 parameters — A1, A2, A3, B1, B2, C1, C2, D1, D2, E1, E2 and E3. These 12 groups are applicable to both urban and rural India.
Household Items considered for Socio-Economic Classification
SEC based on 2 parameters – Education & Household Items
So as an example if you are chief wage earner of the house and you have 9 or more items given in the above list and you are graduate – You will be classified into A1 group of SEC!
If you want to know entire concept of Socio-Economic Classification, have a look at this Slideshare presentation:
You can also check out the new Demographic Map of India.
So, where do you stand – I am sure most of them will come in A1 or A2 parameters, just because, if you are accessing internet and that itself is still rare in India!