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"53% of the millennials expressed a preference for fixed deposits and debt funds"
Here are the key insights from Laqshya Media Group's report on perceptions of millennials post COVID-19 lockdown.
The Laqshya Media Group, one of India's leading marketing communication companies has released a report titled, 'Perceptions, Aspirations, Anticipations of Indian Millennials++ ‘.
It is divided into two parts. Part one asks millennials between the ages of 18 and 39 from NCCS A and B questions ranging from time taken to visit primary congregation places after the lockdown is lifted to prefered investment choices and more. There are 10 questions in total and 1,104 people responded to these questions.
The second part takes reports from The Reserve Bank of India, The International Monetary Fund, and McKinsey & Company and encapsulates all the data to let the readers get an idea what these reports are all about.
Here are a few interesting points mentioned in this report.
1. 75% of the consumers said they will be back in the malls, movie halls, and restaurants, within 4-5 weeks of the lockdown being lifted.
2. Eating out, entertainment, and non-workplace friends are the three things respondents miss most during the lockdown.
3. Millenials want to visit friends and eat out the most as soon as lockdown ends.
4. Environment issues rank the highest in the learnings during the lockdown period.
5. Eating out, movies, and domestic travel are the top three leisure activities millennials will pursue in the next six months.
6. 52% of the respondents ranked doctors and healthcare workers as number one among the essential service providers.
7. 53% of respondents expressed a preference for fixed deposits and debt funds in preferred instruments of financial services/instruments.
8. 19% of respondents expressed a desire to invest in advanced education when questioned about 'asset' most likely to acquire.
9. 76% of respondents said they will continue to use online shopping with 36% saying they will use it more compared to pre-lockdown stage.
10. 31% of respondents said they will prefer to use personal travel for everyday local travel.
You can read the entire report here.