India sat again on the top of the Credit Suisse Emerging Consumer Scorecard 2016. In accordance with the report, Indian consumers stay more optimistic about their present and future funds and moderately low inflation expectations.
- The report by Credit Suisse covered 9 countries.
- India has been followed by China and Saudi Arabia both of which shared the second position.
Countries Covered – Brazil, China, India, Indonesia, Mexico, Russia, Saudi Arabia, South Africa and Turkey.
Rank of other Countries – Indonesia (4th), Turkey (5th), Mexico (6th), Brazil (7th), South Africa (7th) and Russia (8th).
Premises of Report – It was based on the consumer sentiment affected by weak currencies, political risk and commodity exposures.
What scorecard says about India?
- Increase in Income – The average Indian respondent’s income has increased compared with a decline in the emerging market average.
- Higher consumption in categories of low penetration – India has the lowest penetration rates for most categories. As per the survey, there is fast growth in consumption in categories with very low penetration like female hygiene products and smartphones.
- Improving sectors – Segments like beer and perfumes are showing fast-improving longer-term trends.
Keys Credit Suisse:
- Establishment – 1856
- Headquarters – Zurich, Switzerland
- Chairman – Urs Rohner