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ConsumerSignals: India Chapter
October 2026
This quarter’s ConsumerSignals highlight the emergence of a more discerning Indian consumer. Financial well-being has strengthened and anxiety levels have eased, yet consumers remain deliberate in their purchase decisions. Rather than broad-based expansion in spending, we observe a clear prioritisation of categories that deliver tangible value, meaningful experiences, or long-term utility.
Introduction
ConsumerSignals is an always-on platform pulsing 1,000 consumers across each of 20 countries monthly (including all major economies) to understand the underlying causes of financial sentiment and how that informs spending decisions, both big and small. Restlessly reinventing, we continue to refine our survey instrument regularly to stay on top of current trends while providing insights into longitudinal trends that may be more permanent.
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Leader speaks
“India’s consumers are entering the festive season with renewed confidence and a more considered approach to spending. The findings from our latest edition of ConsumerSignals highlight this trend as the discerning Indian consumer’s choice now has the coexistence of prudence and aspiration. While value consciousness remains deeply embedded in everyday spending, consumers continue to invest in experiences, celebrations, and planned upgrades they consider worthwhile.
Household financial sentiment has strengthened, with the Financial Well-Being Index rising to 111.2 in September from 108.5 in August, and 83 percent of consumers confident about meeting upcoming payments. Yet with 74 percent anticipating higher prices, consumers are making sharper choices about where their money delivers meaningful value, prioritising essentials and savings even as discretionary spending intentions strengthen.
Travel continues to be a strong expression of consumer resilience, with hotel intent at 71 percent, although travellers are increasingly prioritising experiences and convenience over premium upgrades. Vehicle ownership aspirations also remain steady, with 55 percent intending to purchase a vehicle, while EV purchase intent stands at 58 percent despite moderating from recent highs.
As festive demand gathers momentum, consumption will increase in categories such as apparel, jewellery and personal care benefiting from occasion-led spending. For businesses, the opportunity lies in aligning consumer aspirations with affordability, convenience and tangible value. Those who deliver differentiated offerings will be better positioned to capture the next phase of consumption-led growth.”
Anand Ramanathan, Partner and Consumer Industry Leader, Deloitte South Asia
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