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Covid-19 dampening consumption can have long-term implications: Report
Dampened sentimentThe report divides Indian consumers into three segments: the affluent, who make up around 10% of the population (those with an income of over ₹60,000 per month), the mid-market, who make up around 20% of the population (those with an income between ₹60,000 and ₹20,000), and the mass market, who make up 70% of the population (those with an income below ₹20,000).According to the report, while overall consumption has seen some signs of recovery, with levels rising 19% from April, consumption in the mass market segment continues to be 40% below the pre-covid-19 levels.