According to Axis My India’s latest India Consumer Sentiment Index (CSI) survey, 47% of people will be opting for traditional television, utilising DTH or cable services when it comes to watching the 2023 ODI World Cup.
27% of people will be embracing digital channels for the World Cup, as per the survey. A notable 9% exhibited enthusiasm to experience the tournament live by planning to attend matches at the stadium, stated the survey.
The survey inquired about respondents' awareness of the forthcoming 2023 ODI World Cup being hosted in India. Encouragingly, 70% of participants confirmed their awareness of this prestigious sporting event taking place in the country.
“It highlights the fact that a substantial majority of respondents are cognizant of the global cricket event's occurrence on Indian soil, reinforcing the event's prominence and reach among the surveyed audience,” shared Axis My India in a statement.
The survey delved into consumers' intentions regarding their shopping preferences for the upcoming festive season. Notably, 23% of respondents plan to shop more during the festive period as compared to last year. Additionally, 28% of participants revealed their intention to maintain their spending habits at the same level as before, hinting at a stable consumer sentiment. These responses highlight the potential shifts in consumer behaviour and their possible impact on the market.
The report further highlighted the consumption of media (TV, Internet, Radio, etc.) has increased for 19% of families, depicting a decrease in media consumption percentage by 1% from last month. The net score, which was -7 last month is at -4 this month. Media consumption remains the same for 58% of families.
The survey also delves into consumer behaviour during festive sales, where 23% of participants express continuity in their engagement with e-commerce platforms, with an additional 11% intending to do first-time online shopping this year.
Overall household spending has increased for 55% of the families, which is a decrease of 3% from last month. Consumption remains the same for 35% of families. The net score, which was +46 last month is +45 this month.
Spends on essentials like personal care and household items have increased for 41% of families, which marks a decrease of 3% from last month. Consumption remains the same for 40% of families. The net score, which was at +23 last month has dipped to +22 this month.
Spends on non-essential and discretionary products like AC, Car, and Refrigerators have increased for 6% of families, which is the same as last month. Consumption remains the same for 87% of families. The net score, which was 0 last month is at -1 this month.
Expenses towards health-related items such as vitamins, tests, and healthy food have surged for 34% of families. This reflects an increase in consumption by 1% from last month. Consumption remains the same for 47% of families. The health score which has a negative connotation i.e., the lesser the spends on health items the better the sentiments, has a net score value of -15 this month.
Mobility has increased for 9% of the families, which is an increase of 2% from last month. The net score, which was -2 last month has improved to -1 this month. Mobility remains the same for 81% of the families.
The survey explored respondents' prior and potential involvement in festive sales organised by e-commerce giants like Amazon and Flipkart. Significantly, a notable 23% of participants confirmed their past participation in such events and expressed their intent to maintain this pattern this year as well. Additionally, 11% of those who had not engaged in festive online sales before expressed their interest in participating this year. Conversely, 7% acknowledged their previous engagement but revealed their decision not to partake this year.
Of 23% of those who intend to maintain the pattern this year, 44% said they will be shopping more through e-commerce mediums as compared to last year.
The September net CSI score, calculated by percentage increase minus percentage decrease in sentiment, is at +8, which is the same as last month (+8). However, the score reflects a dip of -2 from last year September 2022 (+10)
The sentiment analysis delves into five relevant sub-indices – Overall household spending, spending on essential and non-essential items, spending on healthcare, media consumption habits, entertainment and tourism trends.
The survey used Computer-Aided Telephonic Interviews and included 5048 participants from 35 states and UTs. Among them, 68% were from rural areas and 32% from urban areas. In terms of regions, 22% were from the North, 24% from the East, 28% from the West, and 26% from the South of India. Among the participants, 62% were male and 38% were female. Looking at the largest groups, 29% were aged between 36 and 50 years old, while 27% were aged between 26 and 35 years old
Commenting on the CSI report, Pradeep Gupta, Chairman and MD, Axis My India, said, "As we stand on the threshold of the much-anticipated 2023 ODI World Cup on our home turf, we are poised to witness how brands strategically align themselves with this grand event. The widespread recognition and enthusiasm surrounding the tournament offer an ideal backdrop for brands to forge impactful connections with diverse audiences. With media consumption trends diversifying across linear television, digital platforms, and live stadium experiences, this global spectacle will beckon marketers to seize the opportunity and become a part of the cricketing fervour, with this spectacle happening during the peak festive season it will be an added advantage for brands."