New Delhi: Apart from the concern of global inflation, Indians look forward to having a balanced life with plans to spend on luxury such as personal care, clothing, vehicles, vacation trips, and air travel, according to the findings of surveys by Deloitte Tohmatsu India.
Indians not only focus on savings for the future (58 percent of respondents) but also want to spend experience and goods / each physical (50 percent respectively), the report said adding that strong and uptick vaccination drives positively Consumer sentiment is the main reason for this shift.
According to the findings, 77 percent of consumers are optimistic about their financial situation in the next three years, due to open workplaces and Covid-19 cases show a decline.
Deloitte Touche Tohmatsu India on Monday launched a wave 24, the latest analysis of its global state of consumer tracker.
Consumer trackers are an online survey conducted at 1,000 respondents in 23 countries.
“While 74 percent of Indian respondents were worried about inflation.
At the same time, 85 percent of Indian respondents planned to spend time on a leisure trip in the next four weeks, 71 percent of Indian respondents felt safe involved with one-on-one service and 68 percent Indian respondents feel safe to go to a restaurant, “he said.
Inflation worries were observed throughout the world in South Africa (86 percent), Spain (85 percent), Poland (84 percent), Brazil (80 percent), India (74 percent), Canada (74 percent), England (72 percent) and US (71 percent).
However, 77 percent of Indian consumers are optimistic that their financial situation is likely to improve in the next three years, he added.
While discussing the main trends that emerged from a survey in India, the report said 85 percent of Indians planned to spend time on recreational trips in the next four weeks and 74 percent of Indians plan to buy vehicles in the next six months.
“Most Indian consumers plan to spend the most of their wallet parts on personal care and clothing (14 percent) along with recreation, entertainment and holidays (14 percent), followed by electronics and home furniture (11 per cent),” he said.
Indians show interest in buying new vehicles because 74 percent of respondents plan to buy new vehicles in the next six months, and 30 percent say they plan to replace their vehicles and tend to get a vehicle by getting a new vehicle.
Deloitte Touche Tohmatsu India Partner LLP and the leader of the consumer industrial Porus doctor said consumption of consciousness – but meaningful being celebrated by Indians when they look forward to “experiencing” at this time than staying.
“It has also created a sense of purpose in it and they hope to engage with brands and platforms that reflect their personal values and in line with their growing tastes,” he said.
‘Consumers spend to live when inflation’
