“While 84% of Indian consumers prefer buying environmentally sustainable products, they are not eager to pay a premium for it. Therefore, the brands that want to connect well with the Indian buyers would need to create sustainable products that are cost-effective as well,” Kantar Managing Director – South Asia, Insights Division Soumya Mohanty shared while speaking to exchange4media about the findings of the recently launched Global Issues Barometer by Kantar.

She insisted while the optimism in Indian consumers is higher than their global counterparts for a better post-pandemic world, they are still conscious about their expenses and spending only on absolutely essential products.

“They are not cutting on any necessary spends but holding back from spending on absolutely discretionary ones. They are unwilling to compromise on their lifestyle,” she noted.

Therefore, brands in the categories like FMCG are set for better growth in the coming months while sectors like auto, mobile, and white goods can expect a slowdown.

Kantar’s Global Issues Barometer study is a detailed analysis of 800 people's attitudes in India contrasted to 11,000 people across 19 countries (representing 68% of global GDP) as they strive to adapt to the tempest of global events. The survey was done earlier this year. Other highlights of the report include: almost half of households (41%) are considering economizing subscriptions to entertainment subscriptions - one industry that did well during the pandemic. Longer-term, almost three fourth of people say the current turmoil is impacting their big life plans; saving for big future life events (47%), children's education (27%) and retirement plans (24%).

Additionally, Indians have shown great concern towards the war in Ukraine and the cost-of-living crises.

While 35% of the population report their household financial situation is deteriorating, 46% believe the general economic outlook of their country is negative right now. People are struggling to meet their living costs, with 32% of households experiencing difficulties meeting their monthly outgoings and 11% unable to meet their commitments. The problem looks set to continue, a further 71% of people believe inflation will continue to rise even further. While 35% of the population report their household financial situation is deteriorating, 46% believe the general economic outlook of their country is negative right now. People are struggling to meet their living costs, with 32% of households experiencing difficulties meeting their monthly outgoings and 11% unable to meet their commitments. The problem looks set to continue, a further 71% of people believe inflation will continue to rise even further.

Therefore, brands that are cost-effective and give better value for money while being eco-conscious are going to have an edge over their competitors in the coming days.