86 pc Prefer to Buy Groceries From Local ‘Kirana’ Stores
86 pc Prefer to Buy Groceries From Local ‘Kirana’ Stores

Spends across discretionary products increased for 11 percent of the families, demarcating the highest in the last five months. Moreover, local Kirana stores continue to remain the top choice for everyday grocery shopping, a view of 86 percent.

Axis My India’s latest survey, India Consumer Sentiment Index (CSI), reveals that sentiments have improved across all 5 sub-indices. The November net CSI score, calculated by percentage increase minus percentage decrease in sentiment, is at +09, from +08 last month reflecting an increase by 01 point.

The sentiment analysis delves into five sub-indices – Overall household spending, spending on essential and non-essential items, spending on healthcare, media consumption habits, and mobility trends.

“India's steady economic growth and hints of sinking prices have resulted in recovery in consumer confidence. The month-long celebrations have served to amplify this spirit. Convenience and concessions also continue to influence consumer attitudes toward purchases and the demand for goods and services. Online apps are gaining ground in consumers' minds even as local kiranas continue to meet the demand for everyday grocery shopping,” said Pradeep Gupta, Chairman and MD, Axis My India.

He further added, “While rebates and discounts are triggering budgeted purchases, the sale of big-ticket items are still restricted. Therefore while overall spends provide a positive outlook, one can witness novel behaviors of splurging and scrimping pertaining to categories and mode of purchase.”

Highlights of the Survey:

  • Overall household spending has increased for 59 percent of families reflecting an increase of 1 percent from last month. The net score which was +49 last month has increased by +2 to +51 this month
     
  • Spends on essentials like personal care and household items has increased for 46 percent families which is an increase of 2 percent from last month. The net score which was at +25 last month has increased by +2 to +27 this month
  • Spends on non-essential and discretionary products like AC, Car, and Refrigerators has increased for 11 percent of families reflecting an increase of 2 percent from last month and the highest increase in the last 5 months. The net score which was at +3 last month has improved to +4 this month
     
  • Expenses towards health-related items such as vitamins, tests, and healthy food have surged for 39 percent of families, reflecting an increased consumption by 2 percent from last month. The health score which has a negative connotation has a net score value of -23, which is the same as last month
  • Consumption of media (TV, Internet, Radio, etc.) has increased for 21 percent of families which is up by 2 percent after remaining stagnant at 19 percent for the last three months. The overall, net score, which was at -3 last month, is at -4 this month
     
  • Mobility has increased for 7 percent of the families, reflecting an increase of 1 percent from last month. The overall mobility net indicator score which was at -2 last month, has been reported at -1 this month

86 pc Prefer to Buy Groceries From Local ‘Kirana’ Stores

The survey further indicates that 86 percent of households prefer to get their daily groceries from nearby ‘Kirana stores,’ while only 2 percent use internet apps to do so. Amongst online apps, 17 percent of the consumers use Amazon for grocery shopping, while 15 percent utilize Flipkart, however, 8 percent favor Jio Mart

The survey discovered that 29 percent of consumers are planning to shop more or have shopped more in this festive season. 37 percent preferred to buy more clothes during ‘sales season’ while 23 percent and 14 percent preferred to buy groceries and food respectively, and only 6 percent preferred to buy electronic appliances.

17 percent purchased jewelry this festive season, while 13 percent have bought from family jeweler shops 4 percent have bought from Hallmark jeweler shops.

With an intent to understand consumers’ internet usage behavior, the survey discovered that 29 percent have used the internet in the last month to surf through social networking applications. 23 percent each have used the internet as a means of and for watching or downloading online videos. In addition, only 8 percent have used the internet for ‘video calling’.

Deep-diving into Mobile phone preferences, the survey found that 15 percent consider RAM as the most prominent feature while buying it while 14 percent each consider the brand and the price of the device as important parameters. Camera quality was reported to be an important concern for 11 percent.

This month’s CSI report found that 32 percent believe that the relevancy of cricket as a sport continues in spite the quantum of matches being aired. 27 percent are excited to watch all the matches of the upcoming T-20 Cricket World Cup.

In addition, another 28 percent will watch only matches where India is involved and key matches like Semi-Final or Final. However, 69 percent prefer to watch the matches on television screens while 28 percent will watch it on their phone and 6 percent will watch it on OTT.

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