Despite consumer pessimism towards the economy, consumer behaviour is returning to normality

MUMBAI, 31 March 2022 /PRNewswire/ — Blis, the leading privacy-first, location-powered advertising partner, announces the launch of its new report: “The Indian market: return to normality“. The new report helps the industry understand consumer patterns developed during the past years, looking back at 2021 trends to predict what is next in India during 2022.

New Blis Consumer Confidence Pulse data revealed that the majority (64%) of Indian consumers were feeling positive or neutral about the economy in February 2022. However, the pessimism related to their household finances persists, with over one in every three consumers feeling negative about that.

Blis used its data to explore the different stages the industry had to face to get to this point. In fact, the data shows the fluctuation in confidence and mobility levels throughout 2021. The e-guide also reveals some key short and long-term predictions for the rest of the year, including: 

• In the short term, the Indian consumer will push back on priorities like buying a house or a car due to pessimism about their current household financial situation and economic distress.
• The pandemic is seen to have a negative impact on the economy, thus limiting people’s likelihood to consider spending on large ticket items.
• Health will remain an important focus area as Indians try to fit in eating healthy as well as exercise – we are expecting to see an increase in mobility levels around restaurants and gyms.
• Time spent at home becomes as important as out-of-home activities/events. However, the Indian consumer continues to stay engaged with brands and promotional retail events – occasionally stepping out to make the purchase.
• Travel for leisure, especially within the country, is expected to slowly pick up as people yearn for a break. We expect to see a high volume of foot traffic around airports, train stations and hotels.

Milva Povo, Head of Sales for India at Blis comments: “Marketers are constantly facing new challenges in building their relationships with consumers. The pandemic revealed the elastic nature of consumers as new behaviours continue to be driven by shifting measures and new concerns: vaccinations, variant outbreaks, at-risk demographics, personal preferences and government mandates. Our new guide looks back at 2021 to predict what is yet to come this year. We’ve also added valuable tips for brand marketers and media agencies to keep in mind in the short and long term this year.”