By: Rajiv Raghunath
Last updated : May 11, 2020 10:21 am
An OMG study conducted in association with YouGuv shows that consumers are postponing purchase of non-essential goods by 6 months
The report states that a high proportion of potential car buyers have postponed buying plans by more than 6 months, with the impact being higher in Tier 1 cities.
Source: OMG Report entitled COVID-19: The Impact on Indian Consumer Sentiment’
A similar impact is expected for the two-wheeler industry, with 30% of in-market audiences delaying purchase by more than 6 months.
Source: OMG Report entitled COVID-19: The Impact on Indian Consumer Sentiment’
Home appliances are likely to see higher purchase intent in the metros in the next 6 months, as compared to the Tier 1 cities.
Source: OMG Report entitled COVID-19: The Impact on Indian Consumer Sentiment’
The electronics industry is relatively better poised, with close to 60% potential customers set to buy into the category in the next 6 months.
Source: OMG Report entitled COVID-19: The Impact on Indian Consumer Sentiment’
In the case of financial investments segment, 10% of the respondents cited that they were reconsidering financial investment products.
Source: OMG Report entitled COVID-19: The Impact on Indian Consumer Sentiment’
15% are reconsidering their future purchases of personal apparels, driven by Tier 1 cities and women.
Source: OMG Report entitled COVID-19: The Impact on Indian Consumer Sentiment’
The report states that “at an overall level, more than 80% of Indians feel that they will emerge stronger once the pandemic is over. Citizens in metros are more hopeful about the resurgence compared to Tier 1 cities, while businessmen are not eagerly enthusiastic as compared to the salaried population”.
Source: OMG Report entitled COVID-19: The Impact on Indian Consumer Sentiment’