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Consumer sentiment shows a slight dip, increase in discretionary spending lowest at 8% according to Axis My India – CSI

Net Consumer Sentiment Index drops to +10 after a continuous 6-month increase

Mumbai :  Axis My India, a leading consumer data intelligence company, released its latest findings of the India Consumer Sentiment Index (CSI), a monthly analysis of consumer perception on a wide range of issues. The June report reveals a slight dip in consumption across overall household products, discretionary products and health products. Media consumption and mobility mirror reduced sentiment in the given month. The survey however discloses consistency in the consumption of essential products representing caution spending sentiment of consumers.

The June net CSI score, calculated by percentage increase minus percentage decrease in sentiment, was down to +10, from +12 last month

The sentiment analysis delves into five relevant sub-indices – Overall household spending, spending on essential and non-essential items, spending on healthcare, media consumption habits & mobility trends.

This month, Axis My India’s Sentiment survey delved deeper to understand media consumption trends across varied platforms. The report also gauged consumer views on most resonated corporate and political youth leaders. Finally the findings reflected consumer’s outlook on the direct impact of the increased interest rates on household spending.

The survey was carried out via Computer-Aided Telephonic Interviews with a sample size of 10613 people across 28 states and 8 UTs. 73% belonged to Rural India, while 27% belonged to urban counterparts. In addition, 65% of the respondents were male, while 35% were female. In terms of regional spread, 22% belonged to Northern parts, 24% belonged to Eastern parts while 30% and 24% belonged to Western and Southern parts of India. In terms of the two majority sample groups, 35% reflect the age group of 36YO to 50YO, while 29% reflect the age group of 26YO to 35YO. In addition, 65% represent the male population while 35% represent the female population.

Commenting on the CSI report, Pradeep Gupta, Chairman & MD, Axis My India, said, “The rise in inflation have impacted spending across essential, discretionary and luxury commodities. The high prices have taken away the purchasing power of the consumers wherein they are forced to restrict their expenses. This downward sentiment is not alone reflected in the expenditure side, media consumption has also dipped by 3% from last month. However, one can witness a slow and steady shift from television to digital media consumption with a higher time spent on digital. Given the interactive nature of the digital media, almost 42% have also interacted with formats like reels opening up lots of opportunities for brands and organisations to reach their younger audience. These younger spirits are however extremely aware of brands and leaders who are contributing towards the country’s social, political and economic developments. This is reflected in their choice of aspirational leaders like Narendra Modi, who is incidentally also celebrating 20 years of efficient & effective governance, and Ratan Tata who with their years of leadership, business philosophy and philanthropy have won the hearts of millions.”  

Key findings:

On topics of current national interest:

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