Lodestar UM gauged consumer sentiments, results are out!

Lodestar UM recently announced the results of its Econocurious Consumer Survey, which gauges consumer sentiment on the domestic economy and the effect this has on consumption patterns. Conducted for the first time in India, the survey is a one-of-a-kind resource offering unique consumer insights exclusively to Lodestar UM clients.

The study is carried out every six months on a global level, but this time around the study reveals that the Indian markets are looking very positive. The study utilised an online survey format.

More than 1,000 adults participated in this year's survey, which sought to explain the differences in the Indian economic mindset compared to either more developed or Western economies. The results, after being tabulated, reveal that India by far has the most optimistic and upbeat economic outlook of all countries surveyed. 69% of respondents are highly positive about the future, compared to a mere 23% in Britain and the United States.

Moreover, surprisingly, the results show that compared to Indians, more Americans felt they lacked sufficient money to cover basic needs.

Savings and investment was the largest category among Indian consumers, even surpassing China's already high 52%. Besides, Indian consumer choices are driven by tangible and practical considerations. Home purchases are the priority, followed by investing in the stock market and purchasing a car.

India showed a tendency to be brand loyal, with Indians in particular valuing intrinsic elements of a brand and quality, with consumers willing to spend more on brands they trust. Indians also place an emphasis on purchases for family and friends.

Speaking exclusively to Adgully, Shashi Sinha, Chief Executive Officer, Lodestar UM, said, "The study has tried to cover some 60+ markets and a close analytical comparison has showed that the Indian market is looking very positive. The research will be made available in the public space so that clients can benefit from this and reach their consumers better. At Lodestar UM we are constantly trying to come up with insightful data to better the services that reach our clients and consumers."

The survey was based on questions like- What are consumers' attitudes in the current economy? and What do they value and what are they spending on? According to the study, the Indian users are also looking forward to invest and save their earnings and are more rooted in community rather than individual. | By Prabha Hegde [prabha(at)adgully.com]

Advertising
@adgully

News in the domain of Advertising, Marketing, Media and Business of Entertainment

More in Advertising