Alisha Anand, a young mother, and a former radio jockey was probably up to her ears in covid-19 restrictions when she finally decided to take a holiday at a resort in Pushkar, Rajasthan, with her husband and child. On the way, a brief break was also planned with the extended family at an Airbnb vacation home in Jaipur, which came with a swimming pool, something she had been missing in Delhi as the pools in the capital have been shut since March.
Anand said there were a number of cars parked outside the eateries on the Delhi-Jaipur highway on the Independence Day weekend when she travelled. Overall, she feels there has been a change in sentiment among people. “They are okay with the idea of stepping out," said the sprightly Delhiite who may have been to a restaurant only once since the easing of curbs, but has been ordering-in. “My parents are in their 60s and now, even they are moving about saying “jo hoga, dekha jayega," she announces with a laugh.
The mood in Alisha’s family endorses the findings of a couple of recent surveys that talk about improvement in consumer sentiment. In its study conducted between 4 August and 8 August, Deloitte India reported that consumer anxiety around finances, health, spending, and mobility was down to 36% from the 41% reported in April.
Even Boston Consulting Group’s latest survey conducted between July 20 to August 2 noted a pick-up in routine activities with 53% consumers saying that they have been going out to work and 66% of them admitting that they have been visiting friends. These figures were 15% and 10% respectively in the last round conducted during May 18-23. According to the survey, consumer sentiment is starting to improve slightly, though the pandemic has continued to worsen.
More recently, research firm Mintel India also looked at the mood of the consumer. Its Global Covid-19 Tracker in August said 42% of Indian consumers are looking forward to meeting family and friends in person compared to 34% in early July. This desire has accelerated because of the onset of the festive season.
It, however, added that though Ganesh Chaturthi is an important festival, the celebrations will be in line with the pandemic protocols. While the commencement of the festival season beginning August and lasting up to November seems to be giving a leg up to the spirits of the Indian consumer, the celebrations are likely to be muted because of rising infections.
Ambi M.G. Parameswaran, a Mumbai resident and brand strategist and founder of Brand-Building.com, said traditionally Ganesh Chaturthi meant setting up big pandals, attracting thousands of visitors from all over Mumbai. However, this time, the neighbourhood pandals are small with two-feet Ganesh idols.
“With the absence of local trains being a big dampener, the excitement is missing. Even friends are restricting invitations to their homes for Ganesh darshan. That custom has been abandoned this year," he said.
Yet, the mood has certainly seen a gentle shift. There is cautious optimism, probably because of the arrival of the festive season. According to consumer behaviour expert Sraboni Bhaduri, festivals in India are a symbol of new life and prosperity. “They generate a good feeling. The emotions around festivals in India are pretty high. In fact, because of the covid-19 threat this year, the importance has only gone up," she said. However, whether less anxiety will translate into increased spending on part of the consumer remains to be seen. “Indians are, by and large, careful with money, except for the millennials, who are undergoing their own reset now. I believe that religious festivals legitimize consumption," said Parameswaran.
On Tuesday, the Reserve Bank of India indicated that the economy is set to contract and will take time to mend as the shock to consumption is severe.
With incomes having been impacted because of the covid-induced economic slump, festivals are more about private and meaningful celebration and less about consumption this year, said Bhaduri. “People are probably focusing more on the spirit of the festival. So, the Ganpati may be smaller, but the spirit around it is huge. Right now, people need festivals to feel different. Else for them, there is a lot of sameness as weekdays and weekends have merged with the work-from-home regimen," she said.
As the mood is reflective, the festive season is likely to be more about human relationships and less about buying.
Shuchi Bansal is Mint’s media, marketing and advertising editor. Ordinary Post will look at pressing issues related to all three. Or just fun stuff.
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