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Survey: Indian consumer sentiment during the coronavirus crisis

Almost two months into the national lockdown, Indian consumers’ optimism is declining.

Consumer optimism in India has declined as the COVID-19 crisis has progressed. As restrictions begin to lift, consumers continue to be worried about personal and family safety. They expect to continue cutting back on spending across most categories, except for some household essentials and at-home entertainment, and plan to shop more online for most categories. While at home, they have increasingly adopted digital and low-touch activities, such as online streaming and digital payments, many of which they intend to continue post-COVID-19. Indians are leaving the house primarily to shop and to work, and they expect to continue doing so in the near future. Consumers who are not yet engaging with out-of-home activities are waiting for the approval of medical authorities before doing so, and they are prioritizing cleanliness and sanitization when choosing where to shop in-store. Most Indians believe the impact of COVID-19 on their routines and finances will last for more than two months.

These exhibits are based on survey data collected in India from May 22–25, 2020. Check back for regular updates on Indian consumer sentiments, behaviors, income, spending, and expectations.

About the author(s)

Vikash Daga is a senior partner in McKinsey’s Gurugram office, where Resil Das is a specialist, and Surbhi Kalia is a consultant; Abhishek Malhotra is a partner in the Mumbai office.

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