Household spending rose for 61% families in July: Survey
44% respondents reported improvement in living standards in the last few years, while 34% displayed concerns over inflation
PremiumNew Delhi: Overall household spending increased for 61% of families in July, up two percentage points from the previous month, according to data from consumer intelligence firm Axis My India.
The researcher on Tuesday released the findings of its monthly Consumer Sentiment Survey (CSI), which covers consumer perception towards overall household expenditures, spends on essential and non-essential items and on healthcare, media consumption habits and mobility trends.
“The August report reveals that consumption has increased across 3 out of 5 relevant sub-indices i.e. overall household products, essential products, health products and media consumption. However, sentiment related to mobility has reduced by 1% from last month and sentiments related to discretionary products remains the same as last month," it said.
Meanwhile, 44% respondents reported improvement in living standards in the last few years, while 34% displayed concerns over inflation.
“Spends on essentials like personal care and household items has increased for 45% of the families which is a 1% increase over last month. Spends on non-essential and discretionary products like air conditioner, car, and refrigerator continue to remain the same for 88% of families," it further added.
In all, 10,205 people were surveyed across 34 states and union territories. Of these, 71% belonged to rural India, while 29% belonged to urban markets.
Meanwhile, in July consumption of health-related item increased for 38% of families; this was 35% last month.
Consumption of media increased for 19% of respondents, an increase of 2% from the previous month. Additionally, 87% of those surveyed said they are taking short vacations, and visiting malls and restaurants. Increased travel is reflected only among 6% of families, a dip by 1% from last month, the survey findings revealed.
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