Mumbai: Axis My India, in a report on India’s Consumer Sentiment Index (CSI) published on Thursday, found that a significant 30 per cent of viewers prefer to watch the latest movies on over-the-top (OTT) platforms.
The survey, conducted for monthly consumption on various issues, revealed that 24 per cent of viewers choose movie theatres to watch the latest movies, while 45 per cent wait for them to air on television.
The study further stated that six per cent of respondents are looking forward to using the metaverse (augmented reality (AR) and virtual reality (VR)).
Also, 12 per cent of individuals polled said the content produced by them for social media handles like Instagram or YouTube reflected the rising generation of content creators.
Commenting on the CSI report, Axis My India MD and chairman Pradeep Gupta said, “The internet in general and social media in particular have shaped consumer experiences in all spheres of life. From creating content for Instagram/YouTube to using AR/VR for testing and buying products, consumers have found ways to express their individualities amongst their online and physical social networks. In addition, the internet has provided flexibility due to which, despite big screen launches, consumers are growing to prefer OTT for their viewing medium. The potential of the world-wide-web is huge and is only evolving, and one can only expect it to further enrich consumer experiences.”
The October net CSI score, calculated by percentage increase minus percentage decrease in sentiment, is at +8, from +10 last month, reflecting a decrease by two points.
The sentiment study examines five pertinent sub-indices, including total household expenditure; spending on necessities and wants; healthcare spending; media consumption patterns; and mobility trends.
The survey was carried out via computer-aided telephonic interviews with a sample size of 10,058 people across 32 states and UTs. 67 per cent belonged to rural India, while 37 per cent belonged to urban counterparts. In terms of regional spread, 24 per cent belong to the northern parts while 23 per cent belong to the eastern parts of India. Moreover, 28 per cent and 25 per cent belonged to the western and southern parts of India, respectively. 61 per cent of the respondents were male, while 39 per cent were female. In terms of the two majority sample groups, 34 per cent reflect the age group of 36 to 50, while 30 per cent reflect the age group of 26 to 35.
Check out the key findings of the reports here:
- In comparison to last year, 21 per cent of consumers plan to spend more this holiday season. This sentiment has improved by one per cent since last month.
- This festive season, a majority of 78 per cent plan to shop from local physical retail stores, while 14 per cent plan to shop from e-commerce majors like Amazon & Flipkart
- Overall household spending has increased for 58 per cent of families, which reflects a decrease of three per cent from last month. The net score, which increased by 53 per cent last month, has now decreased by four percent to 49 per cent this month.
- Families’ spending on necessities like personal care and household items has increased by 44 per cent, a two-percent decrease from the previous month. The net score, which was at 29 per cent last month, has decreased by three per cent to 26 per cent this month.
- Families’ spending on non-essential and discretionary items such as air conditioning, cars, and refrigerators has increased by nine per cent, an additional two per cent from the previous month. The net score, which increased by two per cent last month, has improved by an additional three per cent this month. This marks heightened consumer sentiment towards the festivities.
- Health and fitness continue to remain important for consumers amidst the festive season, wherein expenses towards health-related items have increased for 37 per cent of families. The health score, which has a negative connotation i.e., the less spent on health items, the better the sentiments, has a net score value decreased by 22 per cent, an increase of one per cent as compared to last month.
- Media consumption remains the same as the last two months at 19 per cent. The overall net score, which decreased by one per cent last month, increased by three per cent this time.
- Mobility has increased for six per cent of the families, which reflects a decrease of one per cent from last month. The overall mobility net indicator score, which was nil last month, has been reported to increase three per cent this month.
