Discover the paradoxes of 2023’s consumer behaviors as luxury spending soars amidst the FMCG sector’s challenges. What does the rise in two-wheeler sales signal about the broader economy’s health?
The consumer landscape of 2023 unfolds with contrasting patterns, emblematic of the post-pandemic era’s uneven economic rebound. Affluent consumers are driving a robust recovery, splurging on high-end real estate and contributing to a spike in air travel. However, the FMCG sector tells a different story: with high food costs and unpredictable rainfall impacting rural spending, there’s a noticeable pullback in non-essential purchases. On the other hand, the gradual uptick in two-wheeler sales offers a glimpse into the resilience at the economy’s grassroots. Amidst these varied trends, the surge in credit uptake has captured the central bank’s vigilant eye, reflecting a complex mix of growing confidence and underlying caution in the Indian market.
