A consumer sentiment survey conducted by MasterCard International revealed that confidence level of Indians ranked fifth among countries like Kuwait, the United Arab Emirates, Saudi Arabia, South Africa, Egypt, and Lebanon.
While consumers from Kuwait scored 90 on a scale of 100, Indians scored 63.5. Consumers of Lebanon who found their confidence at the bottom scored 32.3. The UAE on the other had managed 87.1, while South Africa -- 64.4.
Despite the fact that Indians' netted out at much about the same consumer confidence level as South Africa but differed in that while Indian consumers were much more optimistic about quality of life and stock market, they were much less so on regular income and were actually pessimistic about employment.
Key results of the consumer lifestyle component included factors like enjoying wealth now or saving it until later - while Indians (73 per cent) favored saving it until later as against just 25 per cent who wanted to enjoy it now. On the other hand, Kuwaitis favored enjoying their wealth now (59 per cent).
About things people aspired to most, (first choice) - all countries consider "buying a home/other property" as the consumers' top most aspiration. Saudi consumers (85per cent) and Indians (80per cent) favored this much more than any of the other consumers in the region.
"Traveling whenever and wherever you like" and "Buying a car / Trading up to a better one" emerge much secondary with only 6 per cent and 8 per cent Indian consumers favoring these, respectively.
With respect to providing a choice of 'rather owning your own home or a car' - large majority of consumers (80%) would rather own their own home than a car. While this was so, the preference to own one's home is particularly prevalent among Indians (86%).
In India, the "I, Myself taking a buying decision" response was the highest (45%) followed by "Husband and Wife jointly" (24%) and "My Spouse" (10%). "Father or Mother" response was the lowest with just 8% favoring it.
On, "money worries" - most Indian consumers (57%) said they worried about money a lot.
With regards to "career or personal life" - most Indian consumers (62%) choose career, which was more than the region's average.
When asked what would they do about a windfall of $2,000 - Indians said (69%) they would very much prefer to save it for future use while 44% would want to spend it on necessities. 32%. Indian consumers would rather give it to one's family and only 22% would like to treat themselves to a luxury item.
Asked where to spend ones retirement - majority of the respondents said they wanted to retire in their home country. Indians (94%), Egyptians (88%), Kuwaitis (87%) and the UAE respondents (81%) are strong supporters of this concept.
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