Campaign India Team
Jun 26, 2008

Consumer confidence in India drops: Nielsen

Consumer confidence in India has fallen by 11 points to 122, the lowest level in the last five runs of the survey, according to Nielsen Global Consumer Confidence Index. This study measures the consumer confidence, major concerns and spending habits in 51 countries.

Consumer confidence in India drops: Nielsen

Consumer confidence in India has fallen by 11 points to 122, the lowest level in the last five runs of the survey, according to Nielsen Global Consumer Confidence Index. This study measures the consumer confidence, major concerns and spending habits in 51 countries.
According to the report, 42% of Indian online consumers who took part in the survey believe that their country is currently in an economic recession. “The last six months have been a turbulent period for the global economy and this has impacted the growth in the Indian economy as well. The rising crude oil prices, inflation, growing unemployment rates have all diminished the consumer spending powers and have in a way shaken the Indian consumer confidence,” said Sarang Panchal, managing director-customised research, Greater China and Asia Pacific of The Nielsen Company.
However, Indian customers are still the most confident in the region. India is one of the few markets that stand to gain from the grim economic outlook, according to the report.
From the job prospects and personal finances perspective, the study shows that the Indians are optimistic about the local job prospects over the next twelve months. 26% of the Indian respondents consider job prospects in the country ‘excellent’ and 60% respondents consider the job prospects ‘good’.
Compared to the last leg of the survey, he percentage of people putting their spare cash has increased by 5% and the percentage investing in shares and mutual funds has dropped by 3%.
 

Source:
Campaign India