According to an online Deloitte survey of 1,000 people in August, up to 84 percent of consumers feel safe returning to work, and 60 percent are willing to attend in-person events.
Among a series of positive results suggesting a return to normal and economic recovery, the Global State of Consumer Tracker also found that overall consumer anxiety in India has fallen to 34 percent, while anxiety in the US, Australia and the UK has risen.
Encouraged by a robust vaccination rate, the Indians are slowly making their way back to the office, the report says. As daily activities and offices resume, fewer Indian respondents worry about using public transport. The study found that 70 percent of respondents plan to cut public transport use, compared with 73 percent in July.
In addition, 67 percent of Indian respondents plan to limit their use of ride hailing services in the next three months. Last month it was 70 percent.
However, concerns about physical well-being still predominate: 76 percent say they are concerned about their physical well-being and 79 percent about the health of their families.
Another sign of a cautious return to normal business operations is that with the Christmas season approaching and fewer COVID-19 cases, spending intent is steadily shifting towards more discreet items. Indian consumers actively spend 12 percent on alcohol, 36 percent on cable television, 36 percent on clothing or shoes, 33 percent on electronics, 25 percent on home furnishings and 22 percent on restaurants.
In addition, 59 percent of consumers feel safe flying. International vacation travel is also gaining in importance as several countries have lifted travel restrictions for India. 57 percent of the Indians surveyed are planning international vacation trips in the next three months.
“The easing of COVID-19-related restrictions across the country, along with an accelerated vaccination campaign, has fueled positive consumer sentiment. Our latest survey results suggest that higher consumer spending and a decline in anxiety will fuel India’s economic recovery, albeit with caution, ”said Porus Doctor, Partner and Leader in Consumer Products, Deloitte Touche Tohmatsu India.
The Global State of the Consumer Tracker is carried out in 18 countries (with a target group of 1,000 people per country / wave) and is intended to be nationwide representative of the total population in each market.
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