Thursday, May 19News That Matters
Shadow

Tag: constrained’

Over 60% Indian consumers ‘newly constrained’; report decline in household incomes: Nielsen

Over 60% Indian consumers ‘newly constrained’; report decline in household incomes: Nielsen

Finance
Over 60% consumers in urban India are “newly constrained”, and have experienced a decline in household income or their financial situation has worsened, leading them to consciously watch what they spend due to the pandemic, a new report by NielsenIQ said on Monday. In urban India, 63% consumers fall within this consumer group and are in the top five across countries surveyed. This is higher than the global average of 46%, the report said, adding that consumers’ circumstances and intentions relative to spending has changed. Four consumer cohorts are driving spends in urban India, with these cohorts adapting new coping mechanisms to manage household budgets as consumption trends shift. “The cautionary spending environment means brands will need to be laser-focused on this group's newly emerg...