57% consider brand’s rep while purchasing: Axis My India survey

05 Jul,2022

By Our Staff

 

Axis My India, the leading consumer data insights firm, released the latest findings of the India Consumer Sentiment Index (CSI), a monthly analysis of consumer perception on a wide range of issues. The July 2022 report highlights that 25% of Indians watched IPL this year, which means a significant 75% didn’t watch IPL. The survey further discovered that 65% have watched IPL through television and 29% through digital platforms. These numbers gain significant importance given the unprecedented valuation at which the IPL media rights were recently sold.

 

The July net CSI score, calculated by percentage increase minus percentage decrease in sentiment, is at +9, from +10 last month reflecting a very minor decrease by 1 point. 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.

 

Commenting on the CSI report, Pradeep Gupta, Chairman & MD, Axis My India, said, “Overtime, consumer spending has reached a status quo bias where the keenness to increase consumption has been limited. This is mainly due to inflation and the after effects of pandemic which has made it difficult for consumers to see their nominal incomes recover to pre-pandemic levels. While in response to this the government has reduced the petrol and diesel prices, a major chunk of consumers are still looking for further ease. Similarly in media, one can witness respondents suffering from consumption fatigue which could be related to innumerable choice of content, ease in mobility and the availability of experiencing ‘cinema’ etc. The craze around IPL persists across platforms but whether this excitement justifies its high media rights, time will tell. Digital viewership is on a high trajectory. In terms of consumption behaviour, a significant proportion of consumers are increasingly taking their purchase decision basis reputation of the brand with price as the second key factor, which shows the growing maturity of Indian consumers.

 

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