Preloader




INTAGE Monthly Trend Survey Details

Chart of the Month December 2024

One of the notable characteristics of consumer consciousness when purchasing goods or selecting services is that Indian consumers are known to place greater importance on price compared to consumers in other countries. Additionally, the term "Value for Money" is frequently used to describe this characteristic.

However, with recent economic growth and increases in disposable income, while "Value for Money" remains significant, there has been a growing number of consumers prioritizing quality. This month’s newsletter introduces results from the INTAGE Consumer Trend Survey on "the most important factors when choosing products or services."

"Premium affordable" is a very good example which refers to the characteristic of products or services that offer premium quality and experiences at an accessible price range. This concept bridges the gap between the conventional notion of "high price = high quality" and "low price = low quality."

This trend is also evident in the INTAGE Consumer Tracking Survey conducted by INTAGE India. In surveys conducted in May and November this year, respondents were asked about "the most important factors when choosing products or services."

In both surveys, the top three factors were "Quality (29%)," "Value for Money (16%)," and "Price (11%)" (figures as of the November 2024 survey). These results confirm that while consumers continue to emphasise price, an increasing number place greater importance on quality.

The most important factors when choosing products or services (SA: %)

An analysis of these results by age group revealed differing trends between those under 35 and those aged 35 and above. 

While the top three factors were consistent across all age groups, consumers under 35 showed a stronger tendency to prioritise Quality. One possible explanation for this is that younger consumers have benefited more significantly from the increased disposable income brought about by recent economic growth.

The most important factors when choosing products or services by age group (SA: %)

18-24  

Years Old

(120)

25-34 

Years Old

(120)

35-44 

Years Old

(120)

Quality 29.836.121.4
Value for Money16.814.315.4
Price9.311.112.2
With the rise in disposable income, the absolute number of consumers who prioritise quality over price when selecting products and services has increased. Additionally, service providers targeting these consumers have introduced more high-quality products and services into the market. Many readers may have noticed an increase in the range of choices for products and services in recent years. Furthermore, advancements in distribution networks and the proliferation of social media due to digitalisation have increased opportunities to access information about products and services, making comparisons easier—another significant shift.

At INTAGE, we will continue to monitor changes in consumer attitudes toward "Price," "Quality," and "Value for Money." This newsletter will keep sharing the results, so please stay tuned.

[INTAGE Monthly Tracking Survey]

Area: Delhi, Mumbai and Bangalore

Target: Male and Females aged 18-44 years old

Methodology: Online Survey

Sample size: 360 (Equally distributed by area, gender, and age)

Timing of survey: Last week of each month