INSUBCONTINENT EXCLUSIVE:
61 per cent consumers see their household income declining in the current financial yearDue to the severe impact of the COVID-19 pandemic
The overall consumer spending this year was much lower as compared to previous years, indicating a decline in savings and discretionary
behaviour during the festive season, spending plans for the next four months, and the household's expectation regarding earnings as well
According to the survey, one of the biggest takeaways is that 10 per cent of the respondents plan to spend over Rs 50,000 on discretionary
purchases in the next four months while 21 per cent respondents plan to spend between Rs 10,000-50,000 in this period
As many as 55 per cent respondents were from tier I, 26 per cent from tier II, and 19 per cent from tier III, IV and rural districts
