• Over 10430 people surveyed 62% is from rural India while 38% is from urban India
• Overall household spending has increased for 63% of families surge by 7 percentage points from last month
• 50% of families reflect increase spends on essentials items, 18% of households reported an increase in Non-essential purchases
• 88% families are going out the same or more with lesser restrictions
• 46% is in agreement to privatisation of loss making public sector companies
• 41% believes that the economy will bounce back by January 2022
• 48% are optimistic of shifting to electric vehicle as fuel prices continue to rise
• Digital (38%) is now the 2nd most important source of brand awareness after TV (44%)
• A majority, 22% still prefers to park their money in savings account, 4% relies on Gold, 40% still don’t invest and interestingly still 2% park their money in post office savings
• 36% of the consumers are planning to go beyond small-ticket purchases
• 59% of the consumers hope for a more cheerful and happy Diwali this year compared to last year
New Delhi: Axis My India, a leading consumer data intelligence company, released its latest findings of the India Consumer Sentiment Index (CSI), a monthly analysis of consumer perception on a wide range of issues. According to the survey, percentage of consumers spending across essential have increased, while spends on discretionary products have remained same. Consumers are further planning to go beyond smaller purchases; 24% are looking to spend on household or personal items like white goods, furniture, electronics and jewellery this Diwali.
The November net CSI score, calculated by percentage increase minus percentage decrease in sentiment, was recorded at +9, up from +7 last month and rising at a constant pace over the last three months, indicative of a positive shift in consumer consumption metrics.
The sentiment analysis delves into 5 relevant sub-indices – Overall household spending, spending on essential and non-essential items, spending on healthcare, media consumption habits & mobility trends.
This month, Axis My India’s Sentiment Index also delved deeper to understand consumers view on varied issues of national interest. These include privatisation of loss making public sector companies like that of Air India, views on economic recovery by 2022, alternatives to rising fuel prices, investment preferences, sentiments around Diwali and on brand advertisement placements.
The surveys were carried out via Computer Aided Telephonic Interviews with a sample size of 10430 people. 62% belonged from Rural India while 38% belonged from urban counterparts.
Commenting on the October report, Pradeep Gupta, CMD, Axis My India, said, “With the festivities at its peak, one can easily witness consumer’s excitement in terms of loosening their purse strings for varied expenses and experiences. While Diwali has triggered spending on products of personal indulgence (like 2-wheeler/4-wheelers or jewellery) and household items, the upcoming festivities and enthusiastic consumer sentiment will further set the momentum for the last half of this year. In addition, one can also witness a transition in terms.