Axis My India, a leading consumer data intelligence company, has released its latest findings of the India Consumer Sentiment Index (CSI), a monthly analysis of consumer perception on a wide range of issues. As per its January report, 73% of the consumers believe that their expenses have increased this year compared to the last and 50% believe that it is due to rising inflation.
The survey highlighted that 62% believe that the current government has been able to handle India’s economic situation better than other countries in 2022.
The report also surmised that media consumption has increased for 21% of the people.
“The increased consumption of digital media is reflected as 52% said their time spent on digital has increased in the last one year. Here, Facebook was the most used social media app by 26% whereas Flipkart was the most used e-commerce platform,” the report says.
It further said cricket remains the most preferred sport among Indian consumers, with 46% mentioning that they liked watching the T20 World Cup, 25% liked to watch the IPL and 16% liked the FIFA World Cup.
Here’s a look at the top findings of the Axis My India Consumer Sentiment Index:
- As per Axis My India January CSI survey, 73% say their household expenditure has increased compared to the last year and 50% believe that it is due to the rising inflation. 19% mentioned that the increased expense is because of increased health related expenses
- 16% say they planning to invest in 2023 and 34% mentioned that their child’s education is their main financial goal
- 40% said that they would invest in mutual funds, insurance, gold, stock markets etc. and 16% would invest in real estate
- Demystifying the nature of consumer’s purchasing power, the survey unveils that 49% shopped through Flipkart and 24% from Amazon
- 29% mentioned that they are looking for better employment opportunities in 2023
- 30% mentioned that saving more is their key New Year resolution
- 62% said they believe the current government has been able to handle India’s economic situation better than other countries in 2022
- T20 World Cup was the most liked sporting event for 46% viewers. Around 16% mentioned that FIFA World Cup was their most liked sports event
- 52% said that the time spent on digital has increased compared to the previous year. Facebook is the most used social media app for 35%, while Flipkart is the most used e-commerce app
As many as 10,019 people were surveyed for the consumer sentiment index — 70% from rural India and 30% from urban India.
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