A TRA survey on Friday showed that consumers’ trust on India’s capability to fight the health crisis is high, but that on the economic wherewithal is low.
Consumers’ trust on India’s health ability to combat crisis is considerably high, at 73 per cent, which translates as ‘good’, while their trust on India’s economic ability to combat crisis is significantly lower at 63 per cent, showing that the fears of a long term financial and economic impact are prominent on the minds of the citizens, according to the white paper titled ‘TRA’s Coronavirus Consumer Insights 2020’.
“Surprisingly, while the health crisis recovery perceptions are high among Indians, the economic recovery perceptions are 10 per cent lower. Unless sufficient direct financial support from government to businesses are made, the economic prospects of India remain weak,” said N. Chandramouli, CEO, TRA Research.
“With the extended lockdown Indians feel insecure about their ecomomic future, as there seems to be no certainty of when this will end, or about how businesses will cope after this is over,” the white paper said.
According to it, the overall effectiveness of the lockdown decision across cities was at 91 per cent, with five of the 16 cities giving it above 98 per cent or ‘excellent’ score. However the overall implementation of the same across cities was much lower, at 74 per cent, it said.
In the ‘Family Worry Index’, the highest concern across cities was that the family may contract the disease (74 per cent), job or business loss was the second biggest concern (68 per cent), and delayed salary was third (62 per cent).
The survey was conducted across 16 cities with 902 urban citizens and delves into their perceptions, attitudes, worries, fears and expectations.