Spends On Essential Items Increase For 58% Of Families In August: Report

The overall household spending for 58 per cent of families increased in August, marking the highest levels over the last five months, according to the Axis MyIndia Consumer Sentiment Index (CSI) survey. The overall household spending increased 2 per cent in August compared to the last two months.  

The latest Axis MyIndia CSI report shows that a higher household spending trend was recorded among families from South Indian states like Andhra Pradesh, where the rise was 71 per cent, followed by Telangana and Karnataka, at 67 per cent and 65 per cent, respectively in the month under review.

The expenses on essentials like personal care and household items witnessed a sharp 13 per cent surge in August compared to the last month for 44 per cent of families, which is also the most in five months, the report showed.

This spending analysis also pointed to a larger increase in monthly spending observed in southern states, with Telangana leading the numbers, followed by Andhra Pradesh and Tamil Nadu. In Telangana, 67 per cent of families reported a rise in spending on essential items while in Andhra Pradesh it stood at 63 per cent and in Tamil Nadu at 61 per cent.

Spends on non-essential and discretionary products like AC, car, and refrigerators increased for 6 per cent of families in August,  the survey showed.

The CIS survey also indicates a rise in content consumption across media platforms. The CSI survey found that a strong 70 per cent of the respondents watched television shows every day, while 87 per cent of people watched them at least once a week. This indicates that television continues to remain a popular medium for entertainment. Media consumption overall increased for 20 per cent of families in August.

Similarly, a total of 64 per cent of respondents read newspapers daily in August, showing that traditional print media is still relevant despite everything going digital.

Of the 5,092 people surveyed, 80 per cent of respondents watched video content on platforms like YouTube, Instagram reels, and Facebook shorts, among others, daily.

“The media consumption landscape is continuously evolving, revealing intriguing trends that promise a transformative future for content engagement. Digital platforms are experiencing remarkable growth, driven by tech-savvy youth, while traditional mediums like TV and newspapers retain their allure,” said the Chairman and MD of Axis My India, Axis My India.