VMR Economy Survey 2.0 :
- FMCG (fast moving consumer goods) and white goods (consumer electronics) are likely to lead the revival of the economy post-lockdown while real estate and auto sectors will be among the worst hit, according to a survey conducted by VMR.
- VMR conducted two surveys. The first survey was conducted in January 2020 to assess the impact of the economic slowdown.
- The second was conducted in April 2020 to assess the impact of the coronavirus on consumer confidence and purchasing abilities. About 10,132 samples were collected randomly from across India.
Consumer, white goods to lead revival of economy
Highlights of the Survey:
- Perceived income reduction due to the lock down – The poor are the most impacted. About half of those classified as “very poor” (49%) feels that their incomes are likely to drop anywhere between 0 and 40% because of the impact of the Coronavirus lockdown.
- Sectors leading the revival – FMCG, followed by White Goods (Consumer Electronics) are likely to lead the revival of consumer spending. This has happened primarily because of a complete shift away from Real Estate, which is headed for unprecedented collapse.
- Savings still remains a priority- 55% say that they would like to simply save the additional money they obtain after the lockdown.
- “Made in China” emerges as a very negative brand, with near 93% of the respondents saying that they would not buy products made in China.
