In PwC India’s Voice of the Consumer Survey 2024, it was found that 82% of Indian consumers value protecting their personal data as the most important factor in gaining their trust. The survey, which gathered opinions from 1,000 Indian consumers, sheds light on consumer sentiment regarding data security, sustainable practices, and authentic brand engagement. Despite 58% of consumers making purchases through social media, it remains the least trusted channel, with 76% expressing concerns about privacy and data sharing on these platforms. Additionally, 56% of Indian consumers frequently buy non-grocery items from physical stores, a figure higher than the global average of 34%.
According to the survey, 46% of Indian consumers view climate change as a significant threat, leading 60% to shift towards sustainable products. These consumers are willing to pay a premium of 13.1% for sustainably sourced goods. Ravi Kapoor, Partner and Leader of Retail and Consumer sector at PwC India, noted that 75% of consumers plan to increase spending on clothing/footwear/grocery and health and beauty categories in the next six months. The survey also highlights the importance of data security, with 83% of consumers valuing the security of their devices and 74% approving of data use for beneficial services.
The survey indicates a clear preference among consumers for wellness-focused and sustainable products. 69% plan to eat more fruits and vegetables, and 75% actively seek information on food sustainability. Millennials are particularly interested in independent sustainability scores on labels, with 78% in favor, compared to 66% of Gen Z. While social media is a key platform for brand discovery and reviews, concerns about privacy and data sharing persist. Influencer endorsements and targeted ads have a significant impact on purchasing decisions, while in-store shopping remains popular, with 56% frequently buying from physical stores.
About 62% of consumers prefer visiting stores to discover products, while 53% browse online. The primary channels for purchases are in-store (43%) and online marketplaces (44%). The survey recommends enhancing the physical store experience with technologies like augmented reality and mobile payments. Climate change is a top concern for 93% of consumers, leading 60% to shift towards sustainable products. Consumers prioritize water conservation, eco-friendly packaging, and waste reduction and recycling.
The survey underscores the importance of businesses finding a balance between AI and human interaction. While 57% of consumers trust AI for low-risk activities like obtaining product information, there is skepticism regarding AI’s role in high-risk tasks. Despite interest in chatbots, consumers prefer direct interaction with sales representatives, with 86% expressing concerns about potential cyber risks and job security implications of AI. The survey provides valuable insights into consumer behavior and preferences in India, highlighting the importance of data security, sustainable practices, and authentic brand engagement.
