Almost half of the respondents in the LocalCircles Mood of the Consumers survey have said their focus this festive season is going to be on maximising value and staying within a planned budget.
In other words, 1 in 2 Indian households are expected to be value-conscious this festive season and will focus on getting maximum value while spending. The question on value-conscious behaviour received 9,269 responses in the survey. LocalCircles reaches out to consumers 2-3 times a year to understand their pulse through its ‘Mood of the Consumer’ survey, which gives a glimpse of the current sentiment of consumers.
The September-October survey done ahead of the festive season focuses on what percentage of household consumers are likely to spend during the season, the important criteria for them while shopping, and categories of products that they are likely to spend on. Also, with rapidly growing digital payments, the survey tracks what percentage of consumers will use it as their primary payment mechanism.
Overall, the LocalCircles' study received over 1,15,000 responses from over 38,000 households located across 396 districts. 63 per cent of respondents were men, while 37 per cent of respondents were women. 44 per cent of respondents were from metros/tier 1 districts, 31 per cent from tier-2 and 25 per cent of respondents were from tier-3, 4 and rural districts.
Further, 60 per cent of households are expected to spend during the festive season this year. The finding indicates that there has been a strong improvement in consumer sentiment from May 2021, when only 30 per cent of households in the LocalCircles survey had indicated that they plan to make discretionary purchases in the next 12 months. With 60 per cent of households planning to spend during the festive season, the economic uncertainty prevailing in May at the peak of the second Covid wave has greatly reduced.