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(Representative image)With the end of the second wave of Covid and the slow onset of normalcy, household expenses have increased for 54 percent of families. When it comes to mobility, 92 percent of families say that they go out the same or less on short vacations or in shopping centers or restaurants.
Media consumption increased in 28 percent of families, decreased in 25 percent and remained the same in 47 percent. The net worth of the media is +3. The increase in media consumption is highest in the 18 to 25 age group, which is still not as strong as the other age groups.
Axis My India, a consumer data intelligence company, has published the India Consumer Sentiment Index (CSI), a trend analysis that tracks changes in consumer sentiment at the national level in real time.
The general consumer sentiment score is moving in the positive direction with a score of +0.5 compared to the previous month. The total consumer sentiment value is calculated from% increase -% decrease and is expressed as a number from -100 to 100; the score is negative if moods decrease more than increase, and positive in the opposite situation.
The sentiment analysis looked at five relevant sub-indices – total household expenditure, expenditure on essential and non-essential goods, expenditure on health care, media consumption habits and mobility trends.
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Spending on basic groceries such as personal care and household care products has increased in 43 percent of families, while it has decreased in 27 percent of families. The net value for essential consumption is +16. The difference lies in the East Indies, where consumption only increased in 31 percent of households. Compared to the working population, housewives are also more reluctant to spend on essentials, the report says. Given the long-term uncertainty of spending on non-essential and discretionary goods such as consumer goods, the car has only increased for 15 percent of families, with 58 percent of respondents saying it is the same and declining for 27 percent of families. The net value for non-essential consumption is -12. Again, North is showing better sentiment on nonessential things, with a rise in 22 percent of families, the report added.
Pradeep Gupta, Chief Marketing Director of Axis My India said, “The India Consumer Sentiment Index is our aim to capture the changes in the demographic pulse as we move in a radically changed world after the pandemic. We selected relevant categories such as household spending inflation and healthcare spending to account for day-to-day challenges that affect a significant segment of the population. While the second wave had a negative impact on economic sentiment in terms of employment and business outlook, the index will seek to paint the exact picture based on the vaccine distribution strategy redesign, which has shown encouraging results. “
All interviews were conducted using Computer Aided Telephonic Interview (CATI) among a nationally representative sample of 10,865 adults in 21 states and 555 districts. 63 percent of the respondents were male and 37 percent female. The surveys are weighted in each district according to age, gender, occupation and region.
The CSI focuses on providing information and insights from across the length and breadth of the country, analyzing several subtleties and nuances that influence perception and compiling them into a consolidated index based on a rating system. Consumer sentiment ratings are based on a moving average of adult residents in all states and union territories in India.
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