Indians not only focus on saving for the future (58 percent of those surveyed), but also want to spend on experiences and physical goods / possessions (50 percent each), the report said, adding that robust vaccination campaigns and a slight increase in positive consumer sentiment are the main reasons for this change.
According to the results, 77% of consumers are optimistic about their financial situation over the next three years, as workplaces open and cases of Covid-19 show a decline.
Deloitte Touche Tohmatsu India unveiled Wave 24 on Monday, the latest analysis of its state of global consumer tracking.
Consumer Tracking is an online survey of 1,000 respondents each in 23 countries.
“While 74% of Indian respondents are concerned about inflation. At the same time, 85% of Indian respondents plan to spend on leisure travel in the next four weeks, 71% of Indian respondents feel safe to engage in one-on-one interviews. service and 68% of Indian respondents feel safe going to a restaurant, ”he said.
Inflation problems were observed around the world in South Africa (86%), Spain (85%), Poland (84%), Brazil (80%), India (74%), Canada (74%). , United Kingdom (72 percent) and United States (71 percent). However, 77% of Indian consumers are optimistic that their financial situation is likely to improve over the next three years, he added.
While discussing the main trends emerging from the survey in India, the report states that 85 percent of Indians plan to spend on leisure travel in the next four weeks and that 74 percent of Indians plan to purchase a vehicle over the next six months.
“Most Indian consumers plan to spend the most of their wallet share on personal care and clothing (14%) as well as leisure, entertainment and leisure travel (14%), followed by electronics and furniture (11%). hundred), “he said.
Indians are showing interest in purchasing new vehicles, as 74% of respondents plan to purchase a new vehicle within the next six months, and 30% said they plan to replace their vehicle and that they probably would to get a vehicle with new features.
Deloitte Touche Tohmatsu India LLP partner and consumer industry leader Porus Doctor said conscious but meaningful consumption is celebrated by Indians as they look forward to “experiencing” the present rather than to experience it virtually.
“It has also created a sense of purpose in them and they look forward to engaging with brands and platforms that reflect their personal values and match their evolving tastes,” he said.