Consumers who want to spend money on health, wellness, says research | So Good News


NEW DELHI: Consumers are willing to sacrifice health and well-being, despite financial concerns, according to the findings of a consumer survey conducted by Accenture.

The company has been mapping consumer sentiment since the outbreak began.

The latest survey, conducted in 16 countries including India, generated responses from 11,000 consumers. Accenture’s Consumer Pulse Survey 2022 provides insight into consumer trends, attitudes, and behaviors.

The survey showed that despite widespread uncertainty and economic problems, consumers see health and fitness as important, including food and household cleaning products.

Although two-thirds (66%) of those surveyed said they feel they have more money, 80% said they want to maintain or increase their spending on health and fitness-related items within the next year.

Companies must meet such consumer needs in all markets.

“Although the concept of health and wellness as a category in India is growing rapidly, the size of the market is very small. We believe that there is a huge opportunity for the retail industry in India to listen to the needs of consumers and accordingly their marketing strategies and their reputation, explore the nearby businesses with them is focused on building trust and loyalty with consumers,” said Anurag Gupta, managing director and head – strategy and consulting, Accenture India.

Meanwhile, more than four in 10 respondents (42%) said they are increasing the amount of physical activity, a third (33%) of respondents said they are focusing on self-care – such as bathing or beauty. support—than they were a year ago.

Manish Gupta, Managing Director, Products, Accenture in India, said that the trend is evident as industry collaborations in consumer electronics, wearables, healthcare, insurance, consumer goods, automobiles among others are taking place.

“To thrive in the post-pandemic economy, consumer-facing companies need to reevaluate their offerings, push the boundaries in terms of organic partnerships and act boldly to grow their business,” Gupta said.

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