Household Spend Increases for 54% Families

Expenditure on essentials up for 43 per cent families, decreases for another 27 per cent

Household Spend Increases for 54% Families
Axis My India Publishes India Consumer Sentiment Index
OLM Desk - 12 August 2021

According to the India Consumer Sentiment Index published by Axis My India, household spends have increased for 54 per cent of families that took part in the survey, an indication of the second Covid wave subsiding and normalcy slowly returning. The spend pattern is the same across urban and rural markets, but this increase is much more in the northern region of the country as compared to the other zones.

Spends on essentials like personal care and household care products have gone up for 43 per cent of families and decreased for 27 per cent families. Eastern India has seen a consumption rise in only 31 per cent households.

Spends on non-essential and discretionary items like cars have increased only for 15 per cent families. 58 per cent families have said that spends have remained the same, while 27 per cent families have declared that spends have decreased. Again, the north has shown a better sentiment on non-essentials, with an increase for 22 per cent families.

Consumption on health-related items has increased or remained the same for 78 per cent of families and decreased only for 22 per cent families. This decrease is 27 per cent in western India.

Media consumption has increased for 28 per cent families, decreased for 25 per cent and remained the same for 47 per cent. The increase is highest in the 18–25-year age-group.

In terms of mobility, 92 per cent families have said that they are going out the same or less on short vacations, or to malls or restaurants.

59 per cent people said either offices should be opened, or there should be a hybrid model of working, which should be applied in terms of work.

80 per cent of families wanted schools to re-open, which shows parental concern about overall child development. In comparison to the national average, only 56 per cent parents in the south want the schools to open. Almost unsurprisingly, nearly 100 per cent of the younger age group want schools to re-open.

74 per cent mentioned that availability of Covid vaccines is now easier.

With special focus on rural households, 81 per cent of individuals were confident of a good kharif season on the back of a normal monsoon this year.

The India Consumer Sentiment Index is a detailed trend analysis that tracks real time shifts in consumer sentiment nationally. A monthly index, the CSI focuses on providing intelligence and insights from the length and breadth of the nation, and analyses several subtleties and nuances that influence perceptions and compile them into a consolidated scoring system-based index.

The CSI follows the methodology of a national representative random probability sample as used in the standardised CATI (Computer Aided Telephonic Interview) methodology, covering all geographic and demographic segments across all states and Union Territories in India.

INDIA CONSUMER SENTIMENT SCORE

Sub-Indices

%Increased

%Decreased

Same%

Net Score

Household Spend

54

15

31

39

Essentials Spend

43

27

30

16

Non-Essentials Spend

15

27

58

-12

Health Spends*

41

22

37

-19

Media Consumption

28

25

47

3

Mobility Trend

8

32

60

-24

Overall Consumer Sentiment

+0.5

* Health score has a negative connotation i.e., the lesser the spends on health items the better the sentiments.

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