65 percent of Indians believe that they are currently navigating through a landscape clouded with uncertainty, revealed an Accenture global survey spanning 16 countries. Even more significant, one in ten respondents in India anticipates this uncertain state to endure for a considerable span, projecting it to last at least five years.
The findings of the Accenture survey highlights the deep-seated apprehensions and prolonged concerns that resonate among a substantial portion of the Indian population.
During the survey, when respondents were asked how their expected spend would change over the next six to 12 months, they mentioned that they planned to spend more across 11 of 15 categories. They were wellness, clothing and apparel, beauty, and essentials like healthcare and groceries.
Accenture conducted a separate macroeconomic analysis. The analysis warned that the persistence of inflation, high interest rates, and growing income and employment uncertainty, could further test the resilience of consumer spending in the coming months.
As per the consumer pulse survey, 67 percent Indian respondents stated that challenges in recent years have created opportunities for them. And, 77 percent are trying new experiences or adopting new habits to improve their lives.
Seventy-nine percent intend to maintain or increase their expenditure on wellness in the next one year. Ninety-four percent of consumers in India are willing to provide their personal data with at least one kind of company in exchange for meaningful health and wellness products and services. Eighty-seven percent of consumers are interested in personalised offerings.
Seventy percent of consumers in India plan to sustain or increase their current spending on leisure travel in the next year. Seventy-six percent are planning leisure travel and nearly 46 percent are planning two or more leisure trips in the coming year.
Fifty-seven percent respondents mentioned that they are more or equally concerned about the environment than they are about their personal finances.
The survey also shows that 90 percent of Indian consumers have increased sustainable shopping behaviours in the last 12 months, such as only buying what they need, taking their own bags to the store, buying better quality goods that last longer, repairing or upcycling what they have, and buying reusable or refillable products.