Trending news: Axis My India survey revealed: 62% people trust the current government, 73% said – inflation has increased the expenditure

new Delhi. Leading consumer data intelligence company, Axis my India released the latest report of India Consumer Sentiment Index (CSI). In this, the perception of consumers has been analyzed on many issues. The survey showed a positive outlook on 3 out of 5 issues. In this report released for the month of January, it has been told that the expenditure of people on health products has decreased, which is a good sign. Apart from this, there has also been a slight decrease in household expenditure and essential items.

The survey included household expenditure, expenditure on essential and non-essential items, expenditure on health, spending habits on media, entertainment and tourism. The survey further states that 73% of consumers believe that their spending has increased this year as compared to last year and 50% believe that this increase is due to inflation.

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The survey was conducted through computer-aided telephonic interviews with 10,019 people in 36 states and union territories. It included 70% rural while 30% urban people. If we look at the region wise, 25% belong to northern India while 27% belong to eastern parts. In addition, 28% and 20% belonged to the western and southern parts, respectively. In this survey, 61% were men and 39% were women.

Media consumption increased in 21% people
According to the report for the month of January, media consumption increased in 21% of the people, in which digital media consumption was 52%. It was told in the report that the social media app Facebook was at the forefront with 26 percent. While Flipkart was the most used e-commerce platform. People were also very interested in sports and cricket. 46% liked watching T20 World Cup, 25% liked watching IPL while 16% liked FIFA World Cup.

16% people showed interest in investing
According to the January report, 16% people believe that they will invest in different types of investment instruments like mutual funds, gold, stock market etc. 34% of the people surveyed said that the investment would be for their children’s education. Interestingly, 30% said it was their New Year’s resolution to save more in 2023 and 9% said they wanted to adopt good financial habits to save. The survey also highlights that 62% believe that the current government has been able to handle India’s economic situation better in 2022 than other countries.

Commenting on the CSI report, Pradeep Gupta, Chairman and MD, Axis My India, said, “Our Consumer Sentiment Index shows that the sentiment was highest in the first half of 2022 but saw a slight decline thereafter. Despite that, it was better than 2021 and much better than 2020.

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key findings :
● Total household spending increased by 55%, which is 1% less than the previous month. Net score which was +48 last month has decreased by 1 to +47 this month

● 41% saw an increase in spending on essential items like personal care and household items, which showed a decrease of 5%. The net score which was at +28 last month is at +26 this month.

● Expenditure on non-essential and discretionary products like ACs, cars and refrigerators increased for 7% of households, showing a decrease of 1% from the previous month. The net score, which was -1 last month, has increased to +2 this month.

● Expenditure on health related items like vitamins, tests, healthy food has increased for 39% households. This shows a decrease of 3% in consumption as compared to the previous month. That is, the less one spends on health-related items, the better one’s feelings are, with a net score value of -27, which is the same as last month.

● Consumption of media (TV, internet, radio etc.) has increased for 21% households, which is same as last month.

● 7% of households have increased mobility, showing an increase of 1% over the previous month. The overall mobility net indicator score which was at -2 last month is reported as +2 this month

● In an attempt to understand the investment pattern for consumers during the new year, 16% of those surveyed said they would invest this year and 40% said they would invest in MFs, Insurance, Gold, Stock Market etc and others 16% will invest in real estate. 34% people would like to invest for their children’s education. 30% people elsewhere.

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● The survey reveals that 49% shopped through Flipkart and 24% shopped through Amazon. 38% of people shopped during the end of year/new year sales. 13% mentioned that they want to buy a 4 or 2-wheeler.

● The survey also threw light on the social media habits of consumers, with 35% of those surveyed using Facebook the most, 25% watching YouTube. 52% people told that their mobile/internet consumption has increased.

● The survey also highlights that 62% believe that the current government has been able to handle India’s economic situation better this year than other countries and for 2023 more job opportunities will be created. are supposed to.

What does Axis My India do?
Axis My India is India’s leading Consumer Data Intelligence Consultancy. The company has a presence in more than 737 districts and has reached out to 8.5 crore Indian households. Its clients include some of India’s largest corporations, state governments as well as the central government. For more details visit: https://www.axismyindia.org/

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