74% Indians plan to buy a vehicle in the next six months: Deloitte report

By: |
November 22, 2021 2:50 PM

Despite inflation, 77% of Indian consumers are optimistic that their financial situation is likely to improve within the next three years

50% of Indians are spending more on experience50% of Indians are spending more on experience

Despite inflation, consumers are prioritising personal care and well-being as the world gradually adjusts itself to life after the pandemic, according to Deloitte Touche Tohmatsu India LLP (DTTILLP) has launched the latest analysis of its Global State of the Consumer Tracker. After spending over a year and a half within the confines of their homes, Indian consumers are now living in the moment and indulging in luxury and experience-oriented spending.

“Conscious yet meaningful consumption is being celebrated by Indians, as they look forward to ‘experience’ the present rather than living it virtually. This has also created a sense of purpose in them and they look forward to engaging with brands and platforms that reflect their personal values and are in line with their evolving tastes,” Porus Doctor, partner and consumer industry leader, Deloitte Touche Tohmatsu India LLP, said.

The report’s latest findings reflect that despite global inflationary concerns, Indians are looking forward to now having a balanced life, where they are not only focused on saving for the future (58%) but also want to spend for experiences and goods/physical possessions (50% each). While 74% of Indian respondents are concerned about inflation, at the same time, 85% of Indian respondents plan to spend on leisure travel in the next four weeks, 71% of Indian respondents feel safe engaging with one-on-one services and 68% of Indian respondents feel safe going to a restaurant.

The survey also highlighted that 74% of consumers are planning to buy a vehicle in the next six months. Meanwhile, 85% of consumers plan to spend on leisure travel in the next four weeks. Further, 50% of respondents are spending more on experiences than on goods and 65% of consumers feel safe to take a flight and staying in a hotel.

Read Also: Prashant Bhatt joins Sony SAB as the new programming head  

Follow us on TwitterInstagramLinkedIn, Facebook

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

BrandWagon is now on Telegram. Click here to join our channel and stay updated with the latest brand news and updates.

Next Stories
1WinZO partners with France based global gaming giant Gameloft
2What are the expectations for online retail in 2022
3How to build a brand that displays human qualities