Home / Knowledge / News / Textiles / India retains Credit Suisse consumer survey crown
India retains Credit Suisse consumer survey crown
09
Apr '16
India has once again emerged as the leader in a Credit Suisse consumer confidence survey in emerging markets with Indian participants expressing higher confidence about their current and future finances and relatively lower inflation expectations.

India, which topped the scorecard in 2015 as well, is followed by China and Saudi Arabia, a Credit Suisse report said.

"Weak currencies, political risk and commodity exposures all contributed to the wide range of consumer sentiment expressed in this year's report," said Giles Keating, deputy global chief investment officer at Credit Suisse.

"The negativity of consumers in Russia, South Africa and Brazil contrasted sharply with the relative optimism apparent in India, China and Saudi Arabia," Keating said.

While Indian consumers expressed a degree of disappointment over follow-through action of some policy initiatives of the NDA government, the relative strength of the country's economy reflected in their increasing incomes.

The average Indian respondent's income increased by double-digits compared with a decline for the overall emerging markets average, although income expectations going forward have moderated.

The survey also highlighted fast growth in demand for product categories with low penetration in the country. Female hygiene products, for example, showed 14 per cent improvement in one year, while smartphones grew 12 per cent. Categories such as beer and perfumes are also showing fast-improving longer-term trends, it said.

While penetration levels in India will continue to improve, another overarching trend will be premiumisation as affluent Indians look to acquire better products.

The explosive growth in smartphones in India is seen in 32 per cent of respondents having bought one in the last 12 months, versus only 20 per cent the previous year. Willingness to make discretionary spends on fashion, jewellery, apparel, leather goods and watches showed muted trends over last year, but the base was high after significant improvement in 2014.

The survey said other low penetrated categories like perfumes and sportswear are also improving.

The survey also highlighted the sharp divergence between rural and urban India that has been a feature of recent surveys.

The sharp divergence between rural and urban India has been a feature of recent surveys. The results confirm a reversal, showing slower growth rates or higher declines in spending categories in rural areas. However, we believe that a normal monsoon season, after two consecutive years of poor rainfall, will help revive rural fortunes, the report said.

The Credit Suisse survey was conducted in nine emerging economies, namely, India, China, Brazil, Saudi Arabia, Indonesia, Turkey, Mexico, South Africa and Russia. To undertake this project, Credit Suisse once again partnered with global market research firm Nielsen to conduct nearly 16,000 face-to-face interviews across the nine emerging economies. (SH)

Fibre2Fashion News Desk – India


Must ReadView All

Apparel/Garments | On 28th Jul 2017

DuPont launches new stretchable electronic inks, films

DuPont Advanced Materials has announced availability of its newest...

US merchandise trade with India, 2012–16; Courtesy: USITC

Textiles | On 27th Jul 2017

India becomes US’ 9th largest trading partner in 2016

In 2016, India became the United States’ 9th-largest single-country...

Textiles | On 27th Jul 2017

GST will lead to further increase of MMF prices

The Goods & Services Tax (GST) rolled out on July 1, 2017 is not...

Interviews View All

Claudia Kersten
Global Organic Textile Standard

‘GOTS is a very efficient supply chain management tool, especially for...

Cindy McNaull
Cordura

We have broad range of options in durable fabrics

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X