Household spends increased for 62% of families
Increased spends mainly reflected in the regions of North, South and West
image for illustrative purpose
Hyderabad The overall household spending has increased for 62 per cent of families which reflects a 1 per cent decrease from the previous month. This increase is majorly reflected in the northern part of India, according to the survey findings of the India Consumer Sentiment Index (CSI) by Axis My India, a leading consumer data intelligence company. The company conducts a monthly analysis of consumer perception on a wide range of issues.
November reveals an increase in household spends and mobility for a majority of the population. Consumption of health-related items has increased or remained the same for majority of the families
The December net CSI score, calculated by percentage increase minus percentage decrease in sentiment, was down to +8, from +9 last month and first time slight dip in the net score is observed since past 4 months, a reflection of the post-festive period sentiment.
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 and mobility trends.
This month, the Sentiment Index also dug deeper to understand consumers' consumption pattern in the digital ecosystem in terms of OTT platforms, language preferences. Consumer sentiment was also tracked to understand their expenses in terms of discretionary products and investment preferences. In addition, the survey tracked consumers' opinion on nation's performance in the T20 Word Cup.
The surveys were carried out via Computer Aided Telephonic Interviews with a sample size of 10552 people across 36 states. 64 per cent belonged from Rural India while 36 per cent belonged from urban counterparts.
Commenting on the November report, Pradeep Gupta, CMD, Axis My India, said, "With the year approaching to an end, we witness consumer's gradual return to normalcy though a slight drop in Net Promoter Score also demonstrates that the impact of festive spending is slowly tapering. While media consumptions remain standard for majority, our CSI Survey has further revealed that consumers from the north as well as the south favour vernacular languages when engaging with the digital mediums."
"This insight opens up opportunities for various local as well as national and international players in terms of where and in which form to place their brand content and advertisements. Moreover, it is interesting to note that in spite of a plethora of new age tech firms coming up with IPOs, Indian consumers still prefer to park their confidence in established companies and Government owned stocks and shares, providing a contrarian approach to the FOMO investing theory," he added.
The key findings are listed in the table shown in the pictorial form.
