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Axis My India<\/a>’s ‘India Consumer Sentiment Index<\/a>’ conducted a survey to analyse the sentiments of consumer perception. The analysis delved on five sub-indices: overall household spending, spending on essential and non-essential items, spending on healthcare, media consumption habits and mobility trends.
Forty-one per cent respondents believed that advertisements influence purchase decisions. This was revealed in the month of January. However, a majority of 57 per cent disagreed on the same.
The survey discovered that 26 per cent surfed the internet while simultaneously watching television. This signified that not only were people moving between multiple screens on smartphones, tablets<\/a>, computers and television. But they were also using multiple screens simultaneously to accomplish tasks. This also unraveled a stiff competition between the two mediums to hold onto consumer’s attention for engaging them with information or news, entertainment and advertisements. This behavior was majorly reflected among 18-25-year-olds.
Eighty-nine per cent families said that they were stepping out the same for short vacations, malls and restaurants as compared to 85 per cent of the families last month. However, only four per cent of families recorded an increase in outgoing activities.
The surveys were carried out via computer aided telephonic interviews with a sample size of 10,525 people across 36 states. Seventy per cent hailed from rural India while 30 per cent came from urban counterparts. In addition, 59 per cent of the respondents were male. And 41 per cent of the respondents were female.
Overall household expenditure increased for 53 per cent of families which reflected a six per cent dip from last month. Overall spending remained the same for 33 per cent of the families. And this was the highest in the last five months.
Expenditure on essentials like personal care and household items increased for 43 per cent of the families. This surge was seen in the northern and southern part of India. However, this is also the lowest surge in the last five months. For 33 per cent of the families, expenditure remains the same.
Expenditure on non-essential and discretionary products like air conditioner, car and refrigerator has increased for 10 per cent of families. This indicated an even lower percentage than last month. For 83 per cent of the families, expenditure nevertheless remained the same. This showed a surge by five per cent from last month. This was majorly reflected in the sentiment of people living in eastern and northern part of India.
For 44 per cent of the families, consumption on health-related items more or less remained the same. But among 38 per cent of the families, a surge was witnessed. In comparison to last month, the ‘increase’ consumption indicators represented an overall dip by two per cent.
With regards to financial and personal security, a majority of 41 per cent showed apprehension that the information shared online was not secure. Moreover, a bulk of 48 per cent believed that the new variant of the virus – Omicron would not impact their financial well-being.
Sixty-seven per cent believed that women were better as compared to men when it came to financial or investment management. This reflected the view of western part of India.
Pradeep Gupta<\/a>, chief managing director, Axis My India, said, “In our attempt to discover consumer information consumption habits, we witnessed a growing possibility of shared space competitiveness between TV and online for influencing ad-based purchase decisions. However online space unlike TV is an interactive platform and thereby possesses the challenges of ensuring security and safety of data shared by consumers. Overall with the nation’s sentiments resuming back to slow and steady normalcy and more opportunities opening within the media space, advertisers and marketers are in a sweet spot and should thereby leave no space untouched.”