Axis My India, a leading consumer data intelligence company, released its latest findings of the India Consumer Sentiment Index (CSI) monthly analysis report, where one of the major finding was that only 27 per cent of the respondents spend time watching content on OTT or video streaming platforms, whereas 73 per cent reflected their view otherwise demonstrating the scope of penetration. Also, the people who prefer OTT content, a majority directed their choice towards Hotstar followed by Amazon Prime and Netflix. Majority of the viewers are of the age of 18-35.
As per an official statement, the surveys were carried out via computer aided telephonic Interviews with a sample size of 10552 people across 36 states. 64 per cent belonged from rural India while 36 per cent belonged from urban counterparts.
“With the year approaching to an end, we witness consumer’s gradual return to normalcy though a slight drop in Net Promoter Score also demonstrates that the impact of festive spending is slowly tapering. While media consumption remains standard for the majority, our CSI Survey has further revealed that consumers from the north as well as the south favour vernacular languages when engaging with the digital mediums. This insight opens up opportunities for various local as well as national and international players in terms of where and in which form to place their brand content and advertisements. Moreover it is interesting to note that in spite of a plethora of new age tech firms coming up with IPOs, Indian consumers still prefer to park their confidence in established companies and Government owned stocks and shares, providing a contrarian approach to the FOMO investing theory,” said Axis My India CMD Pradeep Gupta.
The month of November reveals the same media consumption for the majority of the families as last month. Consumer’s online behaviour further reflects a preference of Indian languages over others. Among top OTT platforms Hotstar, Amazon Prime, Netflix, Jio TV and MX Player were among the top choices.
The December net CSI score, calculated by percentage increase minus percentage decrease in sentiment, was down to ‘+8, from +9’ last month and the first time a slight dip in the net score was observed since the past four months, a reflection of the post-festive period sentiment. 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 and mobility trends.
This month, Axis My India’s Sentiment Index also delved deeper to understand consumer’s consumption in the digital ecosystem in terms of OTT platforms, language preferences. Consumer sentiment was also tracked to understand their expenses in terms of discretionary products and investment preferences. In addition, the survey tracked consumer’s opinion on India’s performance in the T20 World Cup.
Axis My India further gauged consumer’s sentiment on their digital behaviour. A combined 27 per cent said that they prefer engaging with websites and mobile applications in Hindi and other regional languages while 24 per cent preferred English.
Moreover it was identified that 31 per cent of the population that resides in the southern part of India prefers using apps and websites in the English language, whereas 27 per cent in the northern belt prefers engaging with Hindi based apps and networks.
In addition, regional language based apps and sites reflected the choice of southern India at 34 per cent. In addition it was discovered that the majority of the youngsters (60 per cent) amongst 18-25 prefer digital interactions in English, whereas those above 51 prefer Hindi and other regional languages.
Here are the other key findings of the survey:
·Overall household spending has increased for 62 per cent of families which reflects a one per cent decrease from the last month. This increase is majorly reflected in the northern part of India
·The increase in essential-spends like personal care and household items stands at 49 per cent showcasing a surge in the north and south of India. The net score which was ‘+27’ last month remains the same for this month. Percentage of families whose consumption remained the same as last month has increased by two percent from last month.
·Spends on non-essential and discretionary products like AC, car, refrigerator has increased for 15 per cent of families. While the increase in non-essential spends has decreased by an overall three percent from last month. The net score therefore which was at ‘+9’ last month has been reduced to ‘+6’. The increase in spends is however identified in the north and eastern part of India.
·Consumption on health-related items has increased for 42 per cent of families which overall represents the lowest percentage in the last three months. The health score which has a negative connotation i.e., the less the spends on health items the better the sentiments, has a net score value of ‘-25’.
·Consumption of media remains the same for a majority of 52 per cent families which reflects the highest percentage since the last four months and is majorly from the south of India. Consumption has increased for 22 per cent of the family, majorly from east and north, majorly amongst 18-25YO and 26-35YO. Overall, the net score of this month is at ‘-4’ as compared to ‘-2’ for the previous month.
·Eighty one percent families said that they are going out the same for short vacations, malls and restaurants as compared to last month. This represents a steady increase in movement from 78 per cent in August to three per cent increase in November. Increase in movement is majorly seen in the south of India and the least in the north. Increase in mobility is further seen concentrated among the 18-25YO. The overall mobility score is at ‘-5’.
