The spending on essential items increased in Indian rural areas by 33 per cent compared to 31 per cent in urban areas, according to a survey report ‘Consumer Sentiment Index (CSI)‘.
Spends on household items including personal care increased for 33 per cent of the respondent families, with Karnataka and Tamil Nadu in the lead. While essential items purchases increased in rural areas, discretionary spending did not witness an uptick.
The CSI survey conducted by Axis My India surveyed 10,034 people of which 66 per cent are from rural India and 34 per cent from urban India.
Further, 19 per cent of the respondents between 18 to 25 years stated that they were planning to purchase white goods including AC and Refrigerators.
“Despite a dip in consumer sentiment last year, the upcoming summer season is expected to see an increase in purchases of white goods such as air conditioners and refrigerators. However, there is still an overall sense of restraint or reduction in sentiment across indices. With more job opportunities available, this segment remains optimistic about its future. Additionally, with 30 per cent of youngsters planning domestic holidays, there is potential for an increase in travel-related sales. These insights provide valuable information for marketers to strategise their efforts by focusing on consumer needs and preferences,” said Pradeep Gupta, Chairman & MD, of Axis My India.
Travel and IPL
The survey further discovered that 57 per cent of Indian consumers watch IPL matches on cable/DTH Television while 30 per cent watch them on mobile.