Highest ever consumer confidence, says Nielsen India survey

In a recent online survey conducted by Nielsen on consumers it has been established that there has been an epic growth in consumer confidence since fourth quarter of 2012.

Despite the rising inflation and political delirium, the Indian consumers tend to remain positive regarding their purchasing or buying choices.

Industry experts believe that after a period of political uncertainty, the new government will bring in more stability in the market dynamics.

Piyush Mathur, President, Nielsen India says, “Consumers are reconciled to the negative economic conditions and despite the challenge of inflation, are hoping for a better year. ”   

Around 30,000 people across 60 countries responded to the survey. The key findings of the survey are as follows:

·   Consumer confidence increased in 60 percent of the markets measured by Nielsen, up from 43 per cent in the previous quarter (Q4 of 2013).

·      Around 74 percent of respondents in India are optimistic about job prospects over the next 12 months and the sentiment is up by 4 percentage points from the last quarter.

·     Around 54 percent of online respondents polled indicated that this is a good time to buy things they want and need.

·        The intention of online respondents investing spare cash in savings is up by six percentage points to 68 percent from last quarter.

·        Nearly half of those polled (49 percent) are looking to invest in new technology products and buy new clothes

·        More than 32 percent indicated they would invest in a retirement fund.

·        About 36 percent intend to invest in the stock market and in mutual funds.

In addition to these trends the consumer market will also become more positive if a stable government is elected to power. This scenario will lead to a rise in investment, better employment opportunities and more importantly an affirmative sentiment among the consumers.