How will the psychological and economical resetting of the Indian consumer landscape affect retail, restaurants, salons and multiplexes?
We interviewed 1621 people, between April 12 and April 27. 39.75% of these people said they’d spend less than they used to on retail and leisure.
However, 26% of these same people also said that they’re ready to pay a premium for their “safety” in the subsequent months.
In any case, the majority of consumers will pay fewer in-person visits. But when they do, they’ll do it as a serious customer—ready to convert— and ready to exit—as quickly as possible.
As a result of changing behaviors, the “stakes per walk-in customer” will be critically high.
Meeting friends in person, going to the gym/yoga classes and leisure travel were other common attractions our panelists told us about.
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