Indian consumers join in festivities with a higher shopping intensity

National, 12 November 2020 – Deloitte’s 90-day analysis of the ongoing Global Consumer Tracker survey across 18 countries, shows Indian consumers are gearing up for the festival season as the overall anxiety index is at 31 percent*, a reduction of 17 percent compared with the last update in July. This reflects green shoots in multiple spending parameters during the upcoming festive season.

With reduced anxiety, Indian consumers are open to spending more on convenience (73 percent*) whilst they are scouting for better deals and bargains (55 percent*), exercising caution towards health, hygiene, and environment safety.

Commenting on the analysis, Porus Doctor, Partner and Consumer Industry Leader, Deloitte India, said, “Our survey results reflect the Indian consumer behaviour that shows positivity in view of the upcoming festive season.

There is a decline in people’s concerns over the fear of losing jobs as compared with survey results in July and August. This could be attributed to the positive sentiment as well as reduced anxiety levels that Indian consumers experience. Over the past months, Indian consumers have prioritised non-discretionary expenditure with a tilt towards using the digital and e-commerce platforms, largely to avoid visits to grocery stores to ensure health and safety of self as well as that of their immediate family. This trend shows that consumers have gravitated towards online shopping for essentials and discretionary items. This trend is likely to continue in the foreseeable future.

In the age bracket of 55 and above, purchase intention has increased across both the discretionary and non-discretionary categories as well as the offline and online channels.

In terms of mobility, the findings indicate consumers’ intent to continue with their current vehicles for a longer period than they had earlier expected (79 percent, the highest amongst the 18 countries surveyed*).

43 percent consumers would prefer 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.

Media contact

Mou Chakravorty

Deloitte India

Tel: +8454042392

Email: chakravortym@deloitte.com

Key trends from the survey are mentioned below:

Decrease in anxiety levels

Indian consumers are less anxious about their physical well-being, health of their families, and making upcoming payments and large purchases, compared with the start of the pandemic and the lockdown. This is further reflected by a decrease in the fear of losing jobs.

In-store visits have increased now with the advent of 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 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*). 

Socially conscious shopper

70 percent* consumers prefer locally sourced items and would not hesitate to spend more on responsible and local brands.

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*).

Travel and hotel stay

37 percent feel safe in staying in a hotel and 42 percent feel safe while travelling.

About the survey

Global State of the Consumer Tracker is a survey fielded using an online panel where consumers over 18 years are invited to complete a questionnaire (translated into local languages) via an email. It is fielded in 18 countries (targeting 1,000 people per country/wave) and designed to be nationally representative of the overall population in each market.

Countries in focus

India, Chile, China, Mexico, Australia, the United Kingdom, the United States, Ireland, South Korea, South Africa, Canada, Japan, France, Poland, Spain, the Netherlands, Germany, and Italy.

**The current analysis contains insights from wave 11(3 Oct 2020) and wave 12 (2 Nov 2020)*, as stated in the Consumer Tracker link.**

**The dashboard survey results would be an ongoing demonstration. The first 10 waves were bi-weekly analysis, though waves 11−15 show monthly updates**

** Wave1 of the survey was on 15 Apr 2020**

Notes to the editor for reference purposes only

This press release has been issued by Deloitte Touche Tohmatsu India LLP.

Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as “Deloitte Global”) does not provide services to clients. Please see www.deloitte.com/about for a more detailed description of DTTL and its member firms.

Deloitte India herein refers to Deloitte Touche Tohmatsu India LLP.