While the Covid-19 pandemic had begun impacting lives all around at the very outset, the long-term effects of the disease are being felt after more than a year, on the lives of professionals and consumers, and are shaping the some of the most crucial decisions they take.
From leisure time to buying activities and securing future finances, Indian consumers are changing rapidly compared to their global peers. A recent survey by global consulting major KPMG that has 57 per cent millennial respondents shows that the average Indian youth is way more insecure about his financial future as he adapts to the new work-from-home culture.
Longer work hours impacting the most
|
Crucial issues related to pandemic |
|
Longer work hours impacting leisure time |
|
Longer work hours impacting shopping behaviour |
Financial uncertainty much higher among Indians
A. Concerned about future finances
|
. |
Share of respondents |
|
Indians |
70% |
|
Globally |
49% |
B. Securing future finances have become more important
# 85% are unlikely to cut savings in spite of 10% drop in income
# 30% Indians are focused on current finances, compared to 51% globally
Electronic & furniture have become crucial in WFH culture
|
3% |
|
Furniture |
83% |
5% |
13% |
|
Luxury items |
62% |
17% |
22% |
Consumers weary of stepping out for leisure
|
Feel uncomfortable to visit… |
Indian consumers are adopting digital payments faster
|
Became comfortable with digital payments since the pandemic |
|
In India |
49% |
|
Globally |
22% |
Source: KPMG report
 "Work from home, WFH, BPM, IT industry, tech, jobs, work, gender")