Consumer fickleness on the rise as phygital shopping takes root

Omnichannel shopping, or the phygital (physical and digital) experience, is gaining traction as the preferred way to shop among Indian consumers, who are increasingly forsaking physical stores. However, customer loyalty is becoming increasingly fickle, as consumers frequently switch brands and retailers.

- SURAJEET DAS GUPTA

While the percentage of respondents who are optimistic about the Indian economy has remained stagnant for over a year (with around 76 per cent expressing optimism), there is a gaping gender disparity.

In the last quarter of the calendar year 2024, women's sentiment on the economy dropped by 8 per cent, while that of men increased by 6 per cent, a trend observed across all income levels.

These are some of the findings from the global ConsumerWise ongoing research undertaken by McKinsey & Company, which released its Asia-Pacific findings just a few days ago. The international survey is conducted on more than 100,000 consumers across over 18 countries. It tracks 5 billion transactions valued at over $1 trillion and covers 90 per cent of global gross domestic product.