Consumer Confidence up by 2.9 percentage points in November 2019

After months of pessimism, Consumer Confidence has shown recovery of 2.9 percentage points in November 2019, with marketers unleashing a bonanza for consumers, by low interest, almost 100 per cent financing, sops and deals, lifting the mood and infusing positivity, according to the latest India Primary Consumer Sentiment Index (PCSI), as measured by Thomson Reuters, in partnership with Ipsos.

The monthly PCSI which is driven by the aggregation of the four weighted sub-indices, has moved up for at least 3 of the 4 indices, barring jobs: the PCSI Employment Confidence (“Jobs”) Sub-Index  is down by 1.1 percentage points; the PCSI Economic Expectations (“Expectations”) Sub Index, is up by 1.2 percentage points; the PCSI Investment Climate (“Investment”) Sub-Index  has moved up by 5.5 percentage points; and the PCSI Current Personal Financial Conditions (“Current Conditions”) Sub-Index has shot up by a significant 6.5 percentage points, over last month. 

“The festival season has lifted the mood as marketers doled out easy finance schemes for consumers to buy/ upgrade durables – even automotive companies saw more cars driving out of their showrooms – Diwali, historically has been the time for big ticket purchases, even as the consumers loosened their purse strings. Confidence in the economy has also shown recovery. Jobs though continue to bother consumers. An upturn in employment confidence in future would be critical for sustaining consumer sentiment, " said Amit Adarkar, CEO, Ipsos India & Operations Director APEC (Asia Pacific excluding China), Ipsos. 

These are findings of an Ipsos online poll conducted October 25, 2019–November 8, 2019.  For this survey, a sample of 500 adults from Ipsos' India online panel  aged 16-64 was interviewed online. As this is an online poll in India, representative of the online community in the country, it is not reflective of the general population; however, the online sample in is particularly valuable in their own right as they are more urban, educated and have more income than their fellow citizens and often referred to as “Upper Deck Consumer Citizens” or Primary Consumers. The precision of the Thomson Reuters/Ipsos online polls is measured using a Bayesian Credibility Interval. In his case, the poll has a credibility interval of plus or minus 5.0 percentage points for all adults. For more information on the Bayesian Credibility Interval please click.

The Thomson Reuters/Ipsos India Primary Consumer Sentiment Index (PCSI), ongoing since 2010, is a monthly national survey of consumer attitudes on the current and future state of local economies, personal finance situations, savings and confidence to make large investments. The Index is composed of four sub-indices: Current Conditions Index; Expectations Index; Investment Index; and, Jobs Index.