The survey conducted across nine emerging economies saw India jump four ranks while China (the leader in the 2014 survey) slipped to fifth place as its economy slowed. According to the survey, more people believe this is a good time for making big ticket purchases as average household income in India jumped by nearly 10% in 2014, after being relatively steady the two previous years.
The revival in consumer sentiment has mainly been driven by urban India as parameters such as expectations of increasing incomes, moderating inflation expectations, improvement of personal finances. Also, the share of respondents in India that have used the internet for online shopping increased to 32% from 20% in 2013.
The fifth annual Emerging Consumer Survey by the Credit Suisse Research Institute profiles consumer sentiment and its drivers across the emerging world providing insights regarding consumer sentiment and future consumption patterns.
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