Online Consumer Confidence and Opinion Survey has some good news for brand owners in India. The survey has found that consumer confidence and a healthy bank balance are leading to consumer spending for Christmas and New Year.
The survey reveals that 43 per cent of the world's Internet consumers perceive this time period as ideal for buying the things they want and will need in the next 12 months. In India, this percentage is as high as 61.
ACNielsen has categorised countries with comparatively high spending desires as 'optimistic countries'; these include Denmark, India and Norway. The reason cited for this outlook is that in general, consumers are more upbeat about their personal finance and less worried about it, especially because Christmas is approaching.
The survey suggests that globally, about 58 per cent consumers are content and optimistic about their personal finance situation for the next 12 months. India, at 87 per cent positive, leads other countries in terms of financial security and satisfaction, followed by Indonesia (77 per cent).
Talking about this positive surge in the Indian consumers' mindsets, Sarang Panchal, executive director, customised research, ACNielsen South Asia, says, "India is becoming a dream market for international manufacturers and retailers. The desire to keep pace with the latest trends, coupled with India's booming economy, is making it a promising market."
Investing in mutual funds and shares, holidaying, home improvement, out of home entertainment, new technology and paying off debit/credit card bills featured in the list of options that Indians favoured for spending their spare cash.
Panchal offers a word of advice to marketers who wish to capitalise on this trend: "It is a time for indulgence for consumers and marketers will have to be innovative in their approach to cater to this new consumer spending sentiment. Moreover, they will have to find ways to catch their attention in this cluttered market."
The ACNielsen Online Consumer Confidence and Opinion Survey is a half-yearly survey aimed at gauging current confidence levels, spending habits/intentions and current major concerns of consumers across the globe.
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