Consumer sentiments in the country have been getting better. A survey comprising 5,143 participants shed details on spending intricacies, financial stability perceptions and more. Here are 4 charts that tell you the story.
Axis My India, a leading consumer data intelligence company, has unveiled the latest insights from the India Consumer Sentiment Index (CSI), revealing trends in consumer behaviour. The December net CSI score, calculated by percentage increase minus percentage decrease in sentiment, is at +10, which is an increase of +0.9 from the last month (see chart below).
Overall household spending has increased for 58 per cent of the families. Consumption remains the same for 33 per cent of families. Spends on essentials such as personal care and household items have increased for 49 per cent of families. Consumption remains the same for 36 per cent of families (see chart below).
The survey has provided data on household income, spending, and consumption patterns bringing to light a spectrum of sentiments regarding the nation’s economic conditions this year. As much as 46 per cent of the participants expressed a sense of financial upliftment in 2023 compared to 2022 terms of financial well-being (see chart below).
The survey provided insights into the public’s awareness and adoption of the 14-digit Ayushman Bharat Health Account (ABHA) card, a key component of India’s health digitisation efforts. It revealed that 84 per cent of respondents, are unaware of the ABHA card, indicating a significant knowledge gap in this critical health initiative. This suggests a considerable gap in public knowledge regarding the ABHA and its benefits. On the other hand, 9 per cent of respondents have actively obtained the ABHA card, indicating some level of engagement and uptake among the populace. Meanwhile, 7 per cent of respondents, although aware of the ABHA, do not possess the card (see chart).