INDIAN CONSUMERS TOP ANXIETY LIST

 Indian consumers are in the state of anxiety, frenzy, confusion and nervousness about their health, jobs and their state of finances. Deloitte conducted a 30 days survey across 13 nations and has put India at the top of a global anxiety index.During the survey, respondents aged above 18 years were asked if they felt more anxious than last week.India’s anxiety score was the highest at 33 followed by Mexico (17) and Spain ( 14). According to the Deloitte research, more than 70% of Indian consumers are concerned about their own health, while nearly 80% are concerned about the health of loved ones. 

Consumer priorities  have shifted and most are focused only on the basics. As a result, spending on essential items such as groceries and medicines is expected to remain steady. Other areas that will see steady (or even increasing spending) include home products, mobile data, and other facilitators of remote working conditions.

Anil Talreja, partner and Consumer Industry leader, Deloitte India said, “The survey gives a pulse of the consumer behaviour and trend during these challenging times.” The shift in the consumer behaviour will force companies  to build all together a new plan for engagements.  One possible way brands can navigate their ship through this sea of crisis is by keeping the communication simple, functional and direct, according to Talreja. Brands have already done that in some cases, having shelved their old pitches and promotional tactics to adapt to the new state of the customer. 

For instance

● PepsiCo India  announced its association with delivery start-up 'Dunzo'. In its official note, the global beverage brand stated that it was launching an e-store on the app as part of its direct-to-customer initiative.

● A recent advertisement for L’Oreal India, shows that the French personal care company is a support guide for salons. No celebrity endorser is talking about the efficacy of the product.

There is a significant shift to e-commerce, which was predictable as consumers are scared of going to public places for their shopping needs. Similar concerns are also driving a preference for private vehicles over public transport. Medicines and alcohol are the exception here, as the former need to be personally checked before purchasing and the latter is affected by product quality and temperature factors.