Nearly 46% consumers view ads on the internet, while only close to half of them shop online, preferring Flipkart, Amazon and Meesho, apps, as per latest findings of the India Consumer Sentiment Index (CSI) by consumer data intelligence company, Axis My India. As per the data about 57% of respondents claim that online streaming services have not impacted their television viewing habits, signifying that TV is still the dominant medium in India. Meanwhile, 29% prefer online TV streaming services, preferring video-on-demand services that provide flexibility in content viewing.
Consumers are spending where necessary and exercising ‘very mild’ caution on discretionary expenditures or mobility habits, Pradeep Gupta, CMD, Axis My India, said. “With greater relaxation from the government in terms of mobility and increased encouragement from corporates to return to physical setting, we can witness the country’s effort to go back to the ‘old normal’. Increased online ad consumption and online purchase behaviour reflect the gradual dominance of digital in a consumer’s life and the need for marketers to develop an omni-channel marketing strategy,” Gupta stated.
The sentiment analysis delves into five relevant sub-indices – overall household spending, spending on essential and non-essential items, spending on healthcare, media consumption habits and mobility trends. The surveys were carried out via computer-aided telephonic interviews with a sample size of 10,151 people. Of this, 70% belonged from rural India while 30% belonged from urban cities. Furthermore, 63% of the respondents were male while the remaining 37% of the respondents were female.
According to the survey, media consumption increased for 22% of the families, posting a two percent dip when compared to the same data from last month. Interestingly, overall household spending has increased for 54% of families which reflects a one percent rise from the last month. Spends on personal care and household essentials have increased for 43% of the families, however, it remained the same for the rest 38% of the families.
Meanwhile, consumption of health-related items remains the same for 49% of the families, while a rise was witnessed among 35% of families, the report stated. The health score has a negative connotation (the less the spends on health items the better the sentiments), which signifies persisted apprehension for the overall health and well-being of the consumers.
The survey reveals a bulk of 46% of respondents notice ads on the internet. This behaviour is higher in the younger age groups as expected.
The CSI – Survey also looked at consumers’ views on the upcoming five state elections of Uttar Pradesh, Punjab, Uttarakhand, Manipur and Goa. For budget announcements, Axis My India reports that a majority of 68% believe that RBI’s proposed digital currency/digital rupee will encourage a safer and secure mode of online transaction/ transfer of funds. A minority of 13% and 6% believe that the digital currency will ensure reduced dependency on cash/physical notes, and stimulate increased global as well as rural transactions respectively. For Gupta, the positive outlook towards RBI’s proposed digital currency also reflects the nation’s wider acceptance towards this change.
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