Spooked by slowing economic growth, Indians have been saving every penny in the last couple of months. But looks like this conservative mindset will be forgotten once the festive season kicks in.
Around 15% of the respondents in a recent survey said they have not been spending on discretionary items like shopping, meals, movies, services, and more in August and September, wanting to hold on to the cash in case matters worsen, LocalCircles’ annual Mood of the Consumer survey found. The survey received more than 49,000 votes from around 22,000 unique consumers.
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Spooked by slowing economic growth, Indians have been saving every penny in the last couple of months. But looks like this conservative mindset will be forgotten once the festive season kicks in. Around 15% of the respondents in a recent survey said they have not been spending on discretionary items like shopping, meals, movies, services, and more in August and September, wanting to hold on to the cash in case matters worsen, LocalCircles’ annual Mood of the Consumer survey found. The survey received more than 49,000 votes from around 22,000 unique consumers.
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