41% agreed that ads influence purchase behaviour: Axis My India report
Axis My India, a leading consumer data intelligence company, released its latest findings of the India Consumer Sentiment Index (CSI), a monthly analysis of consumer perception on a wide range of issues. The month of January reveals that almost half of the respondents (41%) believes that advertisement influences purchase decisions. 26% reveal a habit of engaging with both television and mobile phone simultaneously, thus opening deeper conversations on rising multi-screen user behaviour and scope of competitive advertising among different platforms. Moreover media consumption in general remains the same for 54% of the families, highest in the last five months.
The February net CSI score, calculated by percentage increase minus percentage decrease in sentiment, was down to +7, from +10 last month in lieu of the observed drop in household spending both across the essential and non-essential categories since the past 3 month, which was further accentuated by the Omicron scare in January.
The sentiment analysis delves into 5 relevant sub-indices – Overall household spending, spending on essential and non-essential items, spending on healthcare, media consumption habits & mobility trends.
This month, Axis My India’s Sentiment Index further investigated the influence of advertisement on purchase decisions, parallel viewing behaviour with reference to television and mobile phones and consumer’s approach to health and fitness. The survey also delved deeper to understand various facets of financial behaviour, these include apprehensions with sharing financials/personal information online, outlook on the impact of omicron on financial security and gender based investment management perceptions.
The surveys were carried out via Computer Aided Telephonic Interviews with a sample size of 10525 people across 36 states. 70% belonged from Rural India while 30% belonged from urban counterparts. In addition 59% of the respondents were male while 41% of the respondents were female
Commenting on the February report, Pradeep Gupta, CMD, Axis My India, said, “The survey captures consumer’s apprehension yet preparedness and confidence to the advent of Omicron. While essential, non-essential and health related increased expenditures witnessed a dip, consumers at the same time have expressed their confidence of not being financially impacted by the 3rd Wave. Moreover, in our attempt to discover consumer information consumption habit, we witnessed a growing possibility of shared space competitiveness between TV and online for influencing ad based purchase decisions. However online space unlike TV is an interactive platform and thereby possess the challenges of ensuring security and safety of data shared by consumers. Overall with the nation’s sentiments resuming back to slow and steady normalcy and more opportunities opening up within the media space, advertisers and marketers are in a sweet spot and should thereby leave no space untouched.”