Household spending increased for 56%, essential products consumption increased for 46%: Axis My India

Overall household spending has increased by 56 per cent, while 46 per cent has increased their consumption of essential products. Media consumption has increased for 21 per cent, while 21 per cent prefer to go on a domestic holiday this year end, stated the latest findings of Axis My India’s India Consumer Sentiment Index (CSI) that looks at the consumer perception on a wide range of issues. The study surveyed 10,454 people, out of which 69 per cent were from rural India while 31 per cent were from urban India. 

The report stated that consumption of discretionary products increased for 8 per cent, while consumption of health-related items increased for 42 per cent. “While spends across health products has improved reflecting an increase by 3 per cent from last month, sentiments, however, remained the same as last month for essential consumption,” the report stated.

“Spends on non-essential and discretionary products like AC, car, and refrigerator have increased for 8 per cent of families, which reflects a decrease by 3 per cent from last month,” said the report. Health expenses have been the highest in the last three months mostly because of the onset of winter. The less they spend on health items, the better the sentiment, it said.

Mobility increased for 6 per cent of the families. As much as 34 per cent said that they notice in-store promotional offers, and 50 per cent out of that said that they base their purchasing decisions based on in-store promotional offers. 

When it comes to media and entertainment, the popular choice for music continues to be YouTube (39 per cent), while TV is a second favourite (18 per cent), followed by radio (4 per cent). As much as 35 per cent said that they still read the newspapers every day. 

Twenty-six per cent said that they would watch the ongoing FIFA World Cup, out of which 58 per cent would watch it on TV, and 27 per cent would watch on their mobile. Seventeen per cent said that they would watch the key matches, while 9 per cent said they would watch all the matches. 

Fifteen per cent said that they prefer watching Amitabh Bachchan movies, making him the most popular actor, followed by Akshay Kumar, Salman Khan, Allu Arjun, and Shah Rukh Khan. While 25 per cent think Virat Kohli is India’s biggest celebrity in male category, 11 per cent think it is PV Sindhu for the female category. 

Amitabh Bachchan, Sachin Tendulkar, MS Dhoni, Mithali Raj and PT Usha are considered to be icons across sports, movies, art. 

When it comes to travel, 21 per cent said they prefer travelling within India, while 2 per cent plan to travel internationally. Cost is the most critical condition for most (23 per cent), followed by season and destination at 17 per cent each.

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