84% of urban Indians concerned about their ability to pay bills: Ipsos survey
The Ipsos Essentials Survey 2022 also revealed that the world is grappling with three issues - Covid-19, inflation, and conflict in Ukraine
According to the latest wave of the Ipsos Essentials Survey 2022 conducted in 16 markets, the world is grappling with a 3 headed monster, with somewhat differing magnitude by region. For Indians & Chinese, Covid 19 is still the biggest monster; for most of the other parts of the world, Inflation is the biggest monster; Conflict in Ukraine emerged the biggest monster for Germany and Italy.
Speaking about the findings of the syndicated survey, which is a big draw among marketers, Archana Gupta, Country Service Line Leader, Market Strategy & Understanding (MSU), Ipsos India said, “Ipsos Essentials report monitors how people across the globe navigate the new rules of engagement and the resulting impact on consumers’ state of mind, state of wallet and future intentions. Bridging the gap between consumers and marketers, the report is loaded with consumer insights that marketers will find extremely useful while catering to the needs of their key target groups in the altered external environment.”
Concern around the ability to pay bills, by country
With Inflation impacting citizens around the world, the survey highlighted concern around the ability to pay bills, with 84% of urban Indians polled saying they were concerned about their ability to pay bills. Markets most concerned were of Brazil (89%), Italy (84%), South Africa (80%), Mexico (81%) and Russia (78%). Markets least concerned were of South Korea (53%), China (55%) and Japan (47%).
“India has been seeing a constant surge in fuel prices, which in turn is slowly increasing the cost of living. Pandemic, loss of jobs and now inflationary pressures have impacted peoples’ lives and their daily choices. While a lot of our clients are also facing input cost pressures, pricing decisions will need to be taken carefully being sensitive to consumer realities,” said Krishnendu Dutta, Group Service Line Leader, Innovation, MSU & Strategy3, Ipsos India.
We are seeing a bounce back in those eating indoors in restaurants, about 52% globally, among the 16 markets polled in April 2022 and 44% of those polled globally claimed to be participating in travel activities.
Contrast it with March 2021, global participation in travel activities stood at 26% and even dining indoors in a restaurant was a dismal 25%.
Of course, while the covid restrictions are easing in most countries, consumers are taking measures to stay protected. Globally, 59% said they washed their hands regularly, 51% said they wear a mask outside their home, 38% claimed of maintaining physical distance, 28% said they clean and disinfect commonly touched surfaces, 24% avoided touching commonly touched surfaces, 19% avoided people outside their household and 17% avoided touching their face.
“It is a cautious rebound and though it bodes well for the economy, consumers are still wary of resuming activities pre-covid,“ added Gupta.
Ipsos Essentials is a monthly syndicated survey conducted among consumers in 16 markets. A smart design that is fit for purpose Each week, Ipsos connects with 1,000 consumers per country as follows: Behaviors, emotions, expectations, and financial impact; Category usage/attitudes with optional brand deep dives, covering 25+ categories in the following 16 countries: Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russia, South Africa, South Korea, Spain, United Kingdom, and United States.
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