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Indian consumers cautious about spending amid COVID-19 crisis: KPMG

city New Delhi India covid-19 pandemic crisis Coronavirus
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NEW DELHI : Consumers in India are cautious about spending in the wake of the coronavirus pandemic with 78% of respondents claiming to reduce discretionary spending, according to a survey by consultancy firm KPMG.However, consumers in tier-II and tier-III cities were almost two-times more optimistic on their spending habits than those in tier-I, hence it could be the next focus area to monitor spending habits, as per KPMG in India's report titled 'Time to open my wallet or not? - The new spending patterns emerging from a consumer's perspective'.Interestingly, the survey said "overall 51% of respondents feel that the impact of COVID-19 will be short-lived and normalcy is not far".Commenting on the findings, KPMG India Partner and Head –.

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COVID-19
United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
India
Cases: 34 321 025
Deaths: 459 652
Recovered: 0
Brazil
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Cases: 21 835 785
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Recovered: 0
United Kingdom
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Deaths: 141 607
Recovered: 0
Russia
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Deaths: 237 619
Recovered: 0
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