Everyone's screaming "premiumization." The reality? Consumption didn't move up. It split in half.

Jul-Dec 2024 → 2025: ₹3K-₹30K (middle): 58% → 30% 📉 Sub-₹3K (impulse): 35% → 59% 📈 ₹30K+ (premium): 7% → 11% 📈 The squeezed middle collapsed.

This is the barbell economy. Rich India buying iPhones. Bharat buying ₹500 earbuds. Nobody's buying the ₹15K range anymore.

But here's the killer stat nobody talks about: 67% of returns = Tier-2/3 COD orders We solved "Can we reach Bharat?" We haven't solved "Can Bharat afford to keep what they buy?"