New Delhi: After months of pessimism, Consumer Confidence for India has shown recovery of 2.9 percentage points in November 2019, with marketers unleashing a bonanza for consumers, by low interest, almost 100 per cent financing, sops and deals, lifting the mood and infusing positivity, according to the latest India Primary Consumer Sentiment Index (PCSI), as measured by Thomson Reuters, in partnership with Ipsos.
The monthly PCSI which is driven by the aggregation of the four weighted sub-indices, has moved up for at least 3 of the 4 indices, barring jobs: the PCSI Employment Confidence (“Jobs”) Sub-Index is down by 1.1 percentage points; the PCSI Economic Expectations (“Expectations”) Sub Index, is up by 1.2 percentage points; the PCSI Investment Climate (“Investment”) Sub-Index has moved up by 5.5 percentage points; and the PCSI Current Personal Financial Conditions (“Current Conditions”) Sub-Index has shot up by a significant 6.5 percentage points, over last month.
“The festival season has lifted the mood as marketers doled out easy finance schemes for consumers to buy/ upgrade durables – even automotive companies saw more cars driving out of their showrooms – Diwali, historically has been the time for big ticket purchases, even as the consumers loosened their purse strings. Confidence in the economy has also shown recovery. Jobs though continue to bother consumers. An upturn in employment confidence in future would be critical for sustaining consumer sentiment, ” said Amit Adarkar, CEO, Ipsos India & Operations Director APEC (Asia Pacific excluding China), Ipsos.