The survey revealed that 20 per cent of the consumers plan to shop more this festive season in comparison to last year while 32 per cent plan to shop the same as the previous year.
With consumer sentiments improving across key sub-indices like essential and discretionary products and increased mobility,
A September analysis by Axis My India said that 48% of consumers tend to shop more during the festive season as compared to the rest of the year. It also revealed that 20% of the consumers plan to shop more this festive season in comparison to last year while 32% plan to shop the same as the previous year. The data intelligence company surveyed 10,014 people with 68% from rural India and 32% from urban areas. In terms of age of the sample groups, 32% were in the age group of 36- 50 years old, while 31% reflect the age group of 26- 35 years. “After compromising past two festive seasons to the pandemic and its related constraints, this year consumers are expected to shop more during festivities,” said Pradeep Gupta, Chairman & MD, Axis My India.
Spending trends across essentials and non-essentials
Overall household spending increased for 61% of the families, same as last month; spending on essentials like personal care and household items increased for 46% of the families, an increase by 1% from last month.
Spends on non-essential and discretionary products like AC, car, refrigerator, etc. increased for 7% of families, again a per cent increase from last month. Consumption of health-related items increased for 37% of the families which is a per cent decrease from last month; consumption of media remained the same as last month (19%); and mobility increased for 7% of families, an increase of 1% from last month.