Despite revenge, Indian consumers are spending more Shopping is not on the agenda; They are happy that offices are reopening, and are also excited about the market. This surge in consumer sentiment was recorded by a survey conducted by Axis My India in August.

The study, conducted among 10,482 people across India, showed that 56% of consumers on total household spending registered a 2 percent increase over the previous month. Importantly, 21% are families Expenditure More on non-essential and discretionary products, a sharp increase from 15% last month. While rural India is recording the biggest increase in non-essential spending, North Indians are the biggest spenders at 61 per cent.

However, this optimism is indicated by 83% of consumers who are not yet ready to travel or take vacations, even though they continue to take short holidays and visit malls and restaurants. Health, meanwhile, remains an important consideration, with consumption on health-related items increasing or the same for 79% of households, and 96% sure they will follow through. covid Caution.

Indians likely to buy more festive season, but avoid revenge shopping

• 42% said they would make more or the same purchases than last year
• Households’ total household spending is 56%, an increase of 2 percentage points from 54% in the previous month
• 83% are not looking to travel or vacation yet this year and 15% said they would only travel domestically
• 64% of investors believe that BSE Sensex will cross 60,000 mark in next few months, 29% said it will come down
• 93% of households are going out more or less on short holidays to malls and restaurants. The score is -8, last month’s -24 . improvement compared to
• 88% of office goers are happy that offices are opening and think productivity is better than office
• 96% of the people said that they will implement the appropriate COVID treatment this festive season
• Media consumption has increased by 32% in the age group of 18-25 years, the highest

The overall consumer sentiment score is the average of the subindices. *Health score has negative connotation. The less the expenditure on health related items, the better the perception.
Source: The survey was conducted among 10,482 people from 28 states and 7 union territories. It considers five sub-indices: household spending, spending on essential, non-essential goods, and healthcare, media consumption habits and mobility trends.