Consumption up across household, essential and health products, says AxisMyIndia report

July’s survey also highlights that though 44% of the respondents acknowledge improvement in living standards in the last few years, 34% are still concerned over inflation.

household spending
July’s survey also highlights that though 44% of the respondents acknowledge improvement in living standards in the last few years, 34% are still concerned over inflation. (Representational image)

Consumption has increased across overall household, essential and health products as well as media consumption — three out of the five relevant sub-indices surveyed by consumer data intelligence firm AxisMyIndia’s August consumption report. However, sentiment related to mobility has reduced by 1% from June and sentiments related to discretionary products remains the same. consumption in household, essential health products, august net CSI score, media consumption, living standards, spending on healthcare, household spending

July’s survey also highlights that though 44% of the respondents acknowledge improvement in living standards in the last few years, 34% are still concerned over inflation. Overall, sentiments direct towards an optimistic future of India in the next 25 years. The August net CSI score, calculated by percentage increase minus percentage decrease in sentiment, is at +9 which remained same as last month.

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 & mobility trends. Commenting on the CSI report, Pradeep Gupta, chairman & managing director, Axis My India, said “While inflation and lack of employment opportunities continues to be of concern, a major chunk believe that their living standards have improved in the last few years and as we come close to the 75th year
of Independence.”

The overall household spending has increased for 61% of families which reflects a 2% increase from the last month.The net score which was at +50 last month has increased by +2 to +52 this month.Spends on essentials like personal care and household items has increased for 45% of the families which is a 1% increase over last month.

The net score which was at +25 last month has improved by +1 to +26 this month. Spends on non-essential & discretionary products like AC, car, and refrigerator continues to remain the same for 88% of families. Spends, however, have increased for only 6% of families reflecting a net score of 0 same as previous month. The survey found that 87% of families are going out the same for short vacations, malls and restaurants. Increased travel is reflected only among 6% of families, a dip by 1% from last month. The overall mobility net score is at -1.

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