Indian consumers showing signs of reduced anxiety as nationwide vaccination coverage increases: Deloitte’s Global Consumer Tracker

• Overall anxiety level in India is at 39% which is a decline of 6% from 45% in the previous wave**
• The age groups above 35 are increasing spends towards discretionary items
• Over 70% of the age group above 35 intend to purchase their next vehicle online

23 July, 2021 – Deloitte India unveiled wave 20, the latest 30-day analysis of its Global State of the Consumer Tracker, which indicates a 6% decline in the overall anxiety levels to 39%, as the number of new COVID-19 cases across the country continue to decrease.

Indian consumers have shown an intent to increase discretionary spends in anticipation of the upcoming festivities like Eid, Raksha Bandhan, Janmashtami, and Ganesh Chaturthi. Across age groups, there continues to be a preference to spend more on convenience.

The following facts indicate the decrease in anxiety:

• 87% consumers are willing to spend more as they prioritise convenience over price
• 61% consumers have indicated that they now feel safe visiting the stores to shop
• 51% have shown willingness to attend in-person events

However, the concerns about physical well-being prevail:

• 79% of Indian consumers are concerned about their physical well-being
• 85% are concerned about the health of their family

Deloitte’s Global State of Consumer Tracker indicates that young adults are saving more (47%) as compared with people above 55 years of age (43%). While corporate India is still evaluating return to work policy, work-from-home has helped staff save significantly on transport and rent.

Porus Doctor, Partner and Consumer Industry leader, Deloitte Touche Tohmatsu India LLP said, “Our latest survey insights indicate that the Indian consumer is showing signs of reduced anxiety and is open to looking at increasing discretionary spends. Only 20% of Indian consumers are concerned about returning to their workplace; but 65% are concerned about losing their jobs. Travel sentiments are showing positive trends; those consumers in the age group above 35 have shown interest to travel for leisure in the next three months and 58% of consumers have indicated they are comfortable staying at a hotel.”

Other trends:

• Declining use of public transport and spending cautiously on the next vehicle is a constant trend
  • 79% of Indian consumers intend to keep their current vehicles for a longer time
  • 76% respondents, compared with 79% in the previous wave, are concerned about using public transport
• 55+ age group shows confidence in stepping out
  
  
  • People aged 55+ are feeling safer while venturing out when compared with young adults in the age group of 18-35
    - 78% of people aged above 55 feel safe going to a store
    - 70% feel safe going to a restaurant
    - 69% feel safe staying in a hotel
    - 71% feel safe taking a flight and only 9% are concerned about return-ing to their workplace
    
    

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About the survey
Global State of the Consumer Tracker is a survey fielded using an online panel where consumers over 18 years are invited to complete a questionnaire (translated into local languages) via an email. It is fielded in 18 countries (targeting 1,000 people per country/wave) and designed to be nationally representative of the overall population in each market.

Countries in focus
India, Chile, China, Mexico, Australia, the United Kingdom, the United States, Ireland, South Korea, South Africa, Canada, Japan, France, Poland, Spain, the Netherlands, Germany, and Italy.

**The current analysis contains insights of wave 20** (data reference of 30th June 2021), as stated in the Consumer Tracker link.**

**The dashboard survey results would be an ongoing demonstration. The first 10 waves were bi-weekly analysis, though waves 11−17 show monthly updates**
** Wave1 of the survey was on 15 Apr 2020**
**Previous wave (wave 19) data reference of 26th May 2021.
 

Notes to the editor for reference purposes only
This press release has been issued by Deloitte Touche Tohmatsu India LLP.

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