Essential category spend trend has stabilized whereas discretionary spending has seen a continued rising trend since 2020. More than 70 percent consumers are engaging in modified out-of-home behavior with activities such as shopping, entertainment, travel, and social gathering returning to almost normalcy.
Digital continues to hold sway with more than 75 percent consumers using either digital or omnichannel while purchasing across categories. Social media continues to be an important influence while shopping.
Gen Z and millennial are leading in new shopping behavior, with value being the top reason and sustainability as an emerging factor. Overall consumers are observing a general price increase and dual behaviors of splurge and scrimp are observed in certain categories. Although concern on supply shortage is evident in light of energy/ fuel price hike, its not as pervasive as in European and Western markets.
These exhibits are based on survey data collected in India on August 19–26, 2022. Check back for regular updates on Indian consumer sentiments, behaviors, income, spending, and expectations.