Page 3 - Consumer Spending

Indian consumer spending likely to be higher this festive season: Report

Indian consumer spending is expected to be higher this festive season, on the back of increasing purchases of celebratory items and luxury goods, according to a survey by Deloitte. Deloitte's ConsumerSignals research said that about half of the participants believe they can effectively handle significant unexpected expenses in the near future. "With the festive season nearing, Indian consumer confidence is increasing, with 56 per cent indicating their readiness to spend on celebratory items," it added. In the short term, the survey said, consumer spending is set to rise, particularly in clothing, personal care and recreation, entertainment and leisure. "These trends point to increased spending as the festive season nears," it said. Rajeev Singh, Partner and Consumer Industry Leader at Deloitte Asia Pacific said that healthy growth in India's economy is encouraging consumers to embrace premium and luxury spending. "This shift extends across consumer durables, travel, and hospitali

ITC bets big on FMCG for growth with annual consumer spend of Rs 29,000 cr

Diversified conglomerate ITC Limited on Friday said the FMCG business has immense potential for growth with its brands commanding an annual consumer spend of Rs 29,000 crore. Speaking at the 112th AGM of the company, ITC chairman Sanjiv Puri told shareholders in his address that the FMCG brands are being exported to several countries and the business vertical has immense growth potential due to the rising per capita income of the people. "The ITC Next strategy for the FMCG business is to build a future-ready portfolio. With more than 25 brands at the moment, the annual consumer spend is around Rs 29,000 crore", Puri said. He said that the addressable market for the FMCG vertical of ITC is USD five trillion. "The business has immense opportunity to harness this potential", Puri added. Regarding the hotel business, the ITC board had given in-principle approval to demerge the vertical and spin it off into a new entity. Puri said that the business is well poised to capitalise on the .

Consumer spending likely to cross $4 trillion by 2030, says report

More than 52% of Indian consumers cited 'quality' as their most basic expectation from any online shopping site

Consumer demand revival may take one more year despite moderating inflation

RBI's MPC said going forward, the inflation trajectory would be guided by food dynamics

Tier-2 city consumers spend 16% of income shopping online: CMR study

Tier-II cities, including Guwahati, Coimbatore and Lucknow amongst others, lead in terms of time spent on online shopping

China's economic recovery worsens with weak consumer spending data

Domestic travel spending during the recent holiday for the dragon-boat festival was lower than pre-pandemic levels, according to official data released this weekend

Consumer slowdown needed; risk of US recession down: Janet Yellen

"Inflation has really come down a lot - and there's more in the pipeline," Yellen predicted, partly due to an expected adjustment in the housing market

Govt spending to drive India's growth in this fiscal, economists say: Poll

Weakness in consumption has shifted the onus onto the government to maintain strong economic growth by announcing record capital expenditure (capex) plans, given private investment has lagged

Economic uncertainty in Pakistan shrinks Eid-related spending by 40%

Online shopping, however, partially made up for the decline in sales

China economy rebounds from Covid slump as consumer spending picks up

Retail sales rose 3.5% from the same period last year, figures from the National Bureau of Statistics showed Wednesday, in line with forecasts and reversing from a 1.8% drop in December

US economy started strong in 2023 on firm consumer spending: Fed Beige Book

"Amid heightened uncertainty, contacts did not expect economic conditions to improve much in the months ahead," the report said

US GDP revised lower on weaker consumer spending in fourth quarter

Inflation-adjusted gross domestic product (GDP) increased at a 2.7 per cent annualised rate during the period, Commerce Department data showed

Budget delivers a big boost for consumption-related stocks: Analysts

The Budget has put more money in the hands of the people through relief from Income Tax, which is a very positive step, analysts said

Blanket rule for winter: What you need to be covered for the season

The market has multitude of choices: pick a blanket that will last long and is not cumbersome

What inflation? Cyber Monday set for record $11.2-billion sales

The Adobe Analytics report predicts spending on Cyber Monday to rise 5.2 per cent as inflation-weary consumers have been putting off holiday shopping for weeks

Japan's economy shrinks 1.2% in July-Sept qtr as consumer spending declines

The Japanese economy contracted at an annual rate of 1.2% in the July-September quarter, as consumption declined amid rising prices. Seasonally adjusted real gross domestic product for the world's third-largest economy shrank 0.3% on-quarter, according to government Cabinet Office data released Tuesday. The annual rate shows how the economy would have grown if the quarterly rate were to continue for a year. Japan's GDP, or the sum of the value of a nation's products and services, was weaker than analysts had expected, coming after three quarters of moderate growth. Like many nations, Japan has suffered as the coronavirus pandemic slammed industrial production and tourism. Private consumption grew 0.3% in July-September, slowing down from the 1.2% growth recorded the previous quarter. Private investment grew 1.5%, down from 2.4% growth in the previous quarter. Another factor is the Japanese yen's fall against other currencies, especially the U.S. dollar. The Federal Reserve has

Stores now preferred choice over online shopping: Raymond's Singhania

Raymond's sales rise 15% in September quarter versus pre-Covid period

US economy rebounds as businesses and consumers show resilience

Records first increase this year at 2.6%, following two quarterly contractions

India festival spending booms despite inflation worries, global slowdown

Online and offline sales during the Hindu festival period starting in the last week of September and lasting until early November are estimated to cross $27 billion

Festival sales: Consumer firms see robust demand across categories

E-commerce firms and online retailers too have been having swinging times