Rise in cost of living impacting 71 per cent adults in India: Survey

Hyderabad: The rising cost of living is starting to impact consumers, according to a recent survey by Trade Desk, which shows that 71 per cent of adults in India are feeling the impact. Nearly half have switched to less expensive brands or stores to ease the pressure on their household budget. The survey of more […]

Hyderabad: The rising cost of living is starting to impact consumers, according to a recent survey by Trade Desk, which shows that 71 per cent of adults in India are feeling the impact.

Nearly half have switched to less expensive brands or stores to ease the pressure on their household budget. The survey of more than 1,000 Indian adults showed that reflecting on the prevailing environment, nearly half of Indians are now making less purchases than before, while one in three are putting discretionary purchases on hold.

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There was a brief period since the easing of Covid restrictions when consumers were spending near or above pre-pandemic levels. This uptick was short-lived as geopolitical developments in recent months drove a steady rise in inflation, raising fears of a worldwide recession, a release said and added that nearly one in two Indians now prefer to buy items on sale or in bulk.

“The rising cost of living is clearly impacting Indian households. There is a real risk to brand loyalty as consumers look to cut household budgets amidst increasing expenses,” says Tejinder Gill, General Manager, The Trade Desk in India.