Axis My India, a consumer data intelligence company, released its latest findings of the India Consumer Sentiment Index (CSI), a monthly analysis of consumer perception on a wide range of issues. The October report highlights that a significant 30% plan to watch new movies on an OTT platform, 24% plan to watch it on Movie theatres & 45% prefer to wait for new movies to arrive on television. The survey further discovered that 6% have heard about the term Metaverse and look forward to experiencing AR/VR while shopping for products. 12% of those surveyed revealed that have created content/video and uploaded it on social media such as Instagram/YouTube which signifies the rise of the content creator’s generation.
The October net CSI score, calculated by percentage increase minus percentage decrease in sentiment, is at +8, from +10 last month reflecting a decrease by 2 points.
The sentiment analysis delves into five relevant sub-indices – Overall household spending, spending on essential and non-essential items, spending on healthcare, media consumption habits & mobility trends.
The survey was carried out via Computer-Aided Telephonic Interviews with a sample size of 10058 people across 32 states and UTs. 67% belonged to rural India, while 37% belonged to urban counterparts. In terms of regional spread, 24% belong to the Northern parts while 23% belong to the Eastern parts of India. Moreover 28% and 25% belonged to Western and Southern parts of India respectively. 61% of the respondents were male, while 39% were female. In terms of the two majority sample groups, 34% reflect the age group of 36YO to 50YO, while 30% reflect the age group of 26YO to 35YO.
Commenting on the CSI report, Pradeep Gupta, Chairman & MD, Axis My India, said “Internet in general and social media in specific has shaped consumer experiences in all spheres of life. From creating content for Instagram/YouTube to using AR/VR for testing and buying products, consumers have found ways to express their individualities amongst their online and physical social networks. Internet has in addition provided flexibility due to which despite big screen launches, consumers are growing to prefer OTT for their viewing medium. The potential of the world-wide-web is huge and is only evolving and one can only expect it further enrich consumer experiences.”
Key findings:
- Overall household spending has increased for 58% of families which reflects a decrease by 3% points from last month. The net score which was +53 last month has decreased by -4 to +49 this month
- Spends on essentials like personal care & household items has increased for 44% of the families which is a decrease by 2% points from last month. The net score which was at +29 last month has decreased by -3 to +26 this month
- Spends on non-essential & discretionary products like AC, Car, and Refrigerator has increased for 9% of families which reflects an increase by 2% points from last month. The net score which was at +2 last month has improved to +3 this month. This marks heightened consumer sentiment towards the festivities.
- Health and fitness continue to remain important for consumers amidst the festive season wherein expenses towards health-related items have increased for 37% of the families. The health score which has a negative connotation i.e., the lesser the spends on health items the better the sentiments, has a net score value of -22, net score increase by +1, as compared to last month.
- Consumption of media remains the same as the last two month at 19%. The overall, net score, which was at -1 last month, is at -3 this same.
- Mobility has increased for 6% of the families, which reflects a decrease by 1% point from last month. The overall mobility net indicator score which was at 0%, last month, has reported -3 this month.
On topics of current national interest:
- According to Axis My India Consumer Sentiment Index Survey, 21% of consumers plan to spend more this festive season as compared to last year. This sentiment has improved by 1% point from last month.
- The survey further revealed that a majority of 78% plans to shop from local physical retail stores near their home and 14% plans to shop from E-commerce sites like Amazon/Flipkart this festive season.
- In an effort to discover consumer’s awareness and understanding of Metaverse as a concept, the survey found out that 6% have heard about the term Metaverse and look forward to experiencing AR/VR while shopping for products.
- 12% of those surveyed revealed that have created content/video and uploaded it on social media such as Instagram/YouTube which signifies the rise of the generation of content creators.
- A majority of 45% said that they prefer to watch new movies once it is slotted on TV channels, while 30% prefer to watch them on OTT platforms. 24% prefer watching new movies in theatre halls reflecting that viewers are ready to return to the big screen but also of the competition these screens are facing from OTT.
