Indian consumer sentiment upbeat but still skeptical: Nielsen study

As per Nielsen’s latest report, though in the second quarter in a row, Indian consumers have emerged as the most bullish in a global survey of consumer confidence, reflecting hope that the economy is headed for better times, the buoyance seen after the change of government in May seems to be gradually fading. With a score of 126, India topped market research firm Nielsen’s Consumer Confidence Index for three months to September 30, which covered 30,000 respondents across 60 markets in the Asia-Pacific, Latin America, Europe, Middle-East and North America. India’s score dropped from 128 in the preceding quarter.

For consumers, the top concern continued to be job security, the Nielsen survey said. In the study conducted between August 13 and September 5, 4 in five (82 percent) urban Indians were the most optimistic about job prospects in the next 12 months, followed by counterparts in Indonesia (80 percent) and China (74 percent). 76 percent of respondents in urban India indicated the state of their personal finances was good or excellent. Yet, willingness to purchase saw a marginal decline. Nearly 3 in 5 (59 percent) online respondents polled said it was a good time to buy things they wanted—a one percentage point drop from the previous quarter.

According to the Nielsen survey, 3 in 5 (61 percent) urban respondents in India said they would put money into savings. People are also saving money by spending less on gas and electricity, new clothes, telephone bills and vacations, the report said.