Consumer Confidence bounces back to pre-pandemic levels, shows Refinitiv-Ipsos monthly India Primary Consumer Sentiment Index

The monthly Refinitiv-Ipsos Primary Consumer Sentiment Index (PCSI) for India has surged by a robust 4.7 percentage points in January 2021, for the first time reaching pre-pandemic levels, which is seen as a good start to the new year.

The monthly PCSI, which is driven by the aggregation of the four weighted sub-indices, has shown improvement across the four indices, in January 2021. The PCSI Employment Confidence (“Jobs”) Sub-Index is up by 2.5 percentage points; the PCSI Economic Expectations (“Expectations”) Sub Index, is up by 3.5 percentage points; the PCSI Current Personal Financial Conditions (“Current Conditions”) Sub-Index has moved up by 6.0 percentage points; and the PCSI Investment Climate (“Investment”) Sub-Index has soared by 6.0 percentage points.

“India is clearly in the recovery mode; we are witnessing a bounce back. All these indicators validate how as a market we are getting back on grid and the consumer sentiment is seeing an upturn. What is especially heartening is the increase in PCSI Employment Confidence as this is a harbinger of sustained consumer confidence. The jump in January across all four indices is the sharpest since the pandemic/ lockdown hit us. For the first time, consumer confidence has bounced back to pre-pandemic levels. The upcoming budget will show us the way forward on which way consumer sentiment/ spends will go,” said Amit Adarkar, CEO, Ipsos India.  

These are findings of an Ipsos online poll conducted from December 25, 2020 to January 8, 2021.  For this survey, a sample of 500 adults from Ipsos' India online panel  aged 16-64 were 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 is particularly valuable in its own right as the respondents 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 Refinitiv/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 see  http://www.ipsos-na.com/news-polls/pressrelease.aspx?id=5836

The Refinitiv/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.

Refinitiv is a global provider of financial markets data and infrastructure. The company founded in 2018 is jointly owned by Blackstone Group LP, which has a 55% stake, and Thomson Reuters, which owns 45%.

Ipsos Public Affairs is a non-partisan, objective, survey-based research practice made up of seasoned professionals. They conduct strategic research initiatives for a diverse number of American and international organisations, based not only on public opinion research, but elite stakeholder, corporate, and media opinion research.

Ipsos is a market research company, its research professionals, analysts and scientists have built multi-specialist capabilities that provide powerful insights into the actions, opinions and motivations of citizens, consumers, patients, customers or employees.

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