New Delhi, April 4 (FN Bureau) The consumer sentiment improved to a 12-month high in March with significant improvement in consumption across household products, according to a report of consumer data intelligence company Axis My India. ”The period of March reveals a significant improvement in consumption across household products. Sentiments associated with mobility highlight marginal improvement while sentiments associated with media consumption remain the same as last month,” it said. At an overall level, the consumer sentiment was at its highest in the last one year, said the company, which released its latest findings of the India Consumer Sentiment Index (CSI), a monthly analysis of consumer perception on a wide range of issues.
The surveys were carried with a sample size of 10,086 people across 36 states. Of them, 67 per cent belonged from rural India and 33 per cent were their urban counterparts. Overall household spending has increased to 62 per cent of families which reflects an 8 per cent increase from last month. Spending on essentials like personal care and household items has increased for 48 per cent of the families. Spends on non-essential and discretionary products like AC, car and refrigerator increased for 13 per cent of families, reflecting an increase of 5 per cent from last month. Spending nevertheless remains the same for 82 per cent of the families. Consumption of health-related items more or less remains the same for 46 per cent of the families while decreased consumption is witnessed among 16 per cent. Consumption of media has increased for 22 per cent of the families. Of those surveyed, 89 per cent of families said they were going out for short vacations, malls and restaurants. “With mounting geo-politics tensions, opening up of economies and diminishing fear of Covid-19, Indian consumers are showcasing confidence and overall sentiment is at the highest in last one year,” Pradeep Gupta, CMD, Axis My India, said.