Deloitte State of the Consumer Tracker
About
Analysis of the India Consumer behaviour reflects reduced anxiety level leading to uptick in spending
The Deloitte Consumer Industry Center has been tracking consumer sentiments that are aimed to monitor changing behaviours for over 18 countries to better understand the interplay between personal safety and economic vulnerability as a driver of purchase decisions and consumer behaviour.
The insights provide a compact view of timely data and trends, highlighting evolving consumer trends such as consumer anxiety across the world, net spending intent, consumption pattern where aspects do vary by country, and the type of spend.
The latest insights of Deloitte State of the Consumer Tracker are a culmination of last 2 monthly analysis (wave11- 3 Oct 2020 and wave12- 2 Nov 2020).
The interactive survey dashboard called the Deloitte Global State of the Consumer Tracker kicked off on 15 April 2020 with the first phase (Wave1) and analysed bi-weekly until 22 August 2020 (wave10).
Latest insights show positive sentiments in view of the festive season:
Decrease in anxiety
Anxiety level has dropped in wave 12 (31 percent) compared with wave 5 (48 percent) and wave 1 (41 percent). Indian consumers less anxious about their physical well-being, health of their families, and making upcoming payments and large purchases. This is associated with the decrease in the fear of losing jobs.
Positive Consumer sentiments prevail
Indian consumers are positive about visiting stores (58 percent), restaurants (47 percent), and in-person service providers (52 percent).
In-store visits at par with e-commerce during the festive season
While there is largely an inclination to shop online for convenience and safety, festive deals and the wedding season show a shift towards in-store shopping especially for both non-discretionary items, such as groceries (61 percent*) and household (62 percent*), as well as discretionary items, such as clothing (47 percent*) and electronics (46 percent*), and restaurant take-aways (51 percent).
Socially conscious shopper
70 percent* consumers prefer locally sourced items and would not hesitate to spend more on responsible and local brands of India.
Consumer mobility
The findings indicate consumers’ intent to stick to their current vehicles for a longer period than they had originally expected (79 percent, the highest amongst the 18 countries surveyed*) in India. The reasons evaluated show that 43 percent consumers like to wait for better deals or opt for used cars. About 40 percent would like to retain their existing vehicles as they are now working from home
Travel and hotel stay
Intension to travel and stay in a hotel for leisure is 43 percent as only 37 percent feel safe in staying in a hotel and 42 percent feel safe while travelling.
Keep exploring the longitudinal monthly surveys capturing consumer sentiments and behaviours from more than 18 countries here.
Connect and know more at inconsumerbusiness@deloitte.com.