NE BUSINESS BUREAU
CHENNAI, JAN 3
Consumer spending in five metropolitan cities will go up during the current year (2020), says a survey undertaken by the Titan Company Limited.
The maiden survey “Consumer Sentiments’’ initiated through online/mobile by the company revealed that consumers across the country are more concerned about their career and children’s education.
Titan unveiled its ‘Consumer Sentiment Report’ for the year 2019 covering views and opinion of people from 5 metros and 14 small towns. According to the study, where the respondents were asked how the year 2019 in comparison to 2018 was, 66% of consumers living in metro cities said 2019 was better than 2018. The same overall sentiment came from 60% of the respondents in smaller towns.
Priorities
When consumers were asked to list top 10 life priorities, consumers in metros prioritized more on health of elders (48%), spending more time with families (47%) and improving mental well being (45%). In future, continuing along with these 3 priorities, metro consumers said they want to focus on Career and Business growth (43%), increasing savings for future (42%) and focusing more on children’s education (40%).
Similarly, in smaller towns, consumers prioritized career and business growth (46%) followed by improving mental well-being (44%) and spending more time with family (44%). In near future, the consumers from smaller towns want to focus more on children’s education (43%), savings for the future (42%) and they want to pick up a new skill (42%).
Issues bothering consumers
When asked about current issues that are bothering them currently, the consumers responded that air pollution, women’s safety and economic slowdown are the 3 biggest concerns consumers.
Spending on kid’s education to go up in 2020
Consumers in Metros expect spending to go up in all areas in 2020 specifically for kids’ education, petrol & other utilities and leisure travel. However in smaller towns, consumers are going to spend lesser than metro consumers on leisure, travel & vacation and entertainment.
The project was initiated to understand consumer sentiments at the closure of the year 2019 – How was the year 2019, likely spends on 2020.
Geographical areas covered for the survey were five metros’ – Delhi, Mumbai, Kolkata, Bangalore, Chennai and smaller towns – Patiala, Udaipur, Haridwar, Shimla, Durg, Dimapur, Darjeeling, Gandhinagar, Raigarh, Navsari, Guntur, Mysore, Vellore, Belgaum, the release added.