Deloitte, a multinational professional services network, carried a 90-day analysis of the ongoing Global Consumer Tracker survey across 18 countries.
The survey showed Indian consumers are gearing up for the festival season as the overall anxiety index is at 31 per cent, a reduction of 17 per cent compared with the last update in July.
This reflects green shoots in multiple spending parameters during the upcoming festival season.
With reduced anxiety, Indian consumers are open to spending more on convenience (73 per cent). Meanwhile, they are also scouting for better deals and bargains (55 per cent), exercising caution towards health, hygiene, and environmental safety.
Commenting on the analysis, Porus Doctor, Partner and Consumer Industry Leader, Deloitte India, said: “Our survey results reflect the Indian consumer behaviour that shows positivity in view of the upcoming festive season. There is a decline in people’s concerns over the fear of losing jobs as compared with survey results in July and August.”
He added, “This could be attributed to the positive sentiment as well as reduced anxiety levels that Indian consumers experience…This trend shows that consumers have gravitated towards online shopping for essentials and discretionary items. This trend is likely to continue in the foreseeable future.“
In terms of mobility, the findings indicate consumers’ intent to continue with their current vehicles for a longer period than they had earlier expected (79 per cent, the highest amongst the 18 countries surveyed).
The survey noted that in-store visits have increased, with the advent of the festival season. There has been a positive shift towards in-store shopping for both non-discretionary items, such as groceries (61 per cent) and household (62 per cent), as well as discretionary items, such as clothing (47 per cent) and electronics (46 per cent).
The survey further mentioned that travel and hotel stay demand has also witnessed a surge, with 37 per cent of respondents feel safe in staying in a hotel and 42 per cent feel safe while travelling.