Axis My India, a consumer data intelligence company, has released its latest findings of the India Consumer Sentiment Index (CSI), offering insights into the evolving landscape of media consumption and societal attitudes. The June net CSI score, calculated by percentage increase minus percentage decrease in sentiment, is at +9, which has remained the same as compared to last month. The sentiment analysis delves into five sub-indices including overall household spending, spending on essential and non-essential items, spending on healthcare, media consumption habits, entertainment and tourism trends.
According to the report, overall household spending has increased for 56% of the families for urban families. Spends on non-essential and discretionary products like AC, car and refrigerator have increased for 5% of families.
The report highlights trends in media viewership, particularly a significant increase in consumption across various platforms, including TV, internet, and radio. According to the report, consumption of media (TV, Internet, Radio, and others) has increased for 24% of the families, depicting an increase by 3% from last month and the highest in the last four months. The overall, net score which was at +2 last month is at +4 this month. Interestingly, males and the 18-25-year-old age group exhibited the highest growth in media viewership.
The survey delved into the preferences and subscriptions of Over-The-Top (OTT) platforms, revealing that the top four OTT platforms includes Hotstar (15%), Jio Cinema (12%), Amazon Prime (9%), and Netflix (5%). Other platforms mentioned by respondents include Zee5 (3%), Voot (1%), YouTube Premium (1%) and others (4%). The report also shed light on the anticipated viewership of the upcoming India vs Australia World Test Championship. 24% expressed their intention to watch the championship on TV, while 19% preferred to watch it on digital/mobile platforms. Additionally, 9% indicated their plan to enjoy the championship both on TV and mobile. Among those who prefer TV, the majority are above 60 years (31%), while the majority of those who prefer digital/mobile belong to the age group of 18-25YO (37%).
Commenting on the CSI report, Pradeep Gupta, chairman and MD, Axis My India, said “We have witnessed a significant shift in the preferences and usage patterns of OTT platforms among Indian consumers. The dominance of Jio Cinema and Hotstar as the top two currently subscribed platforms reflects the widespread availability and appeal of these services. The growing popularity of Amazon Prime and the consistent presence of Netflix demonstrate the increasing demand for diverse content offerings. It is intriguing to note the dynamic nature of platform preferences, with Jio Cinema surpassing others as the most widely used platform mainly on the back of IPL.”
“As consumers seek more personalised and engaging content experiences, platforms must continue to invest in captivating offerings to retain and attract subscribers. Our study also sheds light on the viewership preferences for upcoming India vs Australia World Test Championship, highlighting a balanced interest in both traditional TV viewing and digital/mobile platforms. This emphasizes the importance of multi-platform strategies for broadcasting major sporting events to cater to the diverse preferences of consumers,” he added.
Furthermore, when asked about the frequency of using AI-related tools while working or studying at college, the survey revealed only a negligible percentage of respondents reported daily (1%), occasional (1%), or rare (1%) usage. In contrast, a substantial majority of participants either do not use AI tools at all (9%) or are unaware of their existence (88%).
These results indicate a limited adoption and awareness of AI-related tools among the surveyed population, highlighting the need for increased education and exposure in this domain. Digging deep the survey further found that 28% of those who do use AI tools (daily, occasionally, and rarely) believe that it improves the efficiency and productivity of workplaces or educational institutions.
When considering the ways in which AI tools influence their work or studies, 6% of respondents found AI tools to be effective in answering queries compared to other sources, 22% appreciated their ability to reduce workload and save time, and 4% acknowledged AI tools’ capability to perform simple tasks with minimal interference. However 2% expressed concerns about relying too heavily on AI, and 1% reported a perceived loss of critical thinking and decision-making skills. However, majority of respondents, comprising 64%, mentioned that they have not been affected by job cuts or layoffs.