‘Consumers are more concerned about their careers and children’s education’: Consumer Sentiment Report by Titan Company Limited
02 January 2020: Titan unveiled its ‘Consumer Sentiment Report’ for the year 2019 covering views and opinion of people from 5 metros and 14 small towns. According to the study, where the respondents were asked how the year 2019 in comparison to 2018 was, 66% of consumers living in metro cities said 2019 was better than 2018. The same overall sentiment came from 60% of the respondents in smaller towns.
Life Priorities –
When consumers were asked to list top 10 life priorities, consumers in metros prioritized more on health of elders (48%), spending more time with families (47%) and improving mental wellbeing (45%). In future, continuing along with these 3 priorities, metro consumers said they want to focus on Career and Business growth (43%), increasing savings for future (42%) and focusing more on children’s education (40%).
Similarly, in smaller towns, consumers prioritized career and business growth (46%) followed by improving mental well-being (44%) and spending more time with family (44%). In near future, the consumers from smaller towns want to focus more on children’s education (43%), savings for the future (42%) and they want to pick up a new skill (42%).
When asked about current issues that is bothering them currently, the consumers responded that air pollution, women’s safety and economic slowdown are the 3 biggest concerns consumers reported in the study.
Metro consumers expect spends to go up in all areas in 2020 specifically in areas like kids’ education, petrol & other utilities and leisure travel. However in small towns, consumers are going to spend lesser than metro consumers on leisure, travel & vacation and entertainment.
About the report –
This project was initiated to understand consumer sentiments at the closure of the year 2019 – How was the year 2019, likely spends on 2020, current and future priorities and concern areas. Data was collected through online/mobile surveys.
Geographies covered –
- Metros – Delhi, Mumbai, Kolkata, Bangalore, Chennai
- Small Towns: Patiala, Udaipur, Haridwar, Shimla, Durg, Dimapur, Darjeeling, Gandhinagar, Raigarh, Navsari, Guntur, Mysore, Vellore, Belgaum
Titan Company Limited (earlier known as Titan Industries Limited) is a joint venture between the Tamil Nadu Industrial Development Corporation (TIDCO) and Tata Group, commenced operations in 1987, under the name Titan Watches Limited. In 1994, Titan diversified into Jewellery and subsequently into eyewear with Titan Eyeplus. In 2013, Titan entered the fragrances segment with SKINN and 2017 in sarees with Taneira. Today, Titan Company Limited, India’s leading manufacturer / sellers in watches, jewellery and eyewear, is credited with changing the face of all these industries. The Company recorded revenue of Rs.19, 070 crores for the year ended 31st March 2019.