1.
McKinsey & Company 1
Five emerging consumer themes in October 2021
1 2 5
4
3
Optimism driving
higher spending
Optimism about an
economic rebound has
peaked, with young
consumers being the
most optimistic.
Spending intent
improved vs February
2021 and is positive for
many categories
Omnichannel is
ascendant
More than 60 percent of
Indian consumers use
omnichannel for
purchasing in all
categories, mostly
influenced by social
media
Holiday spend
revival
Six in ten consumers
say they were excited
during the holiday
shopping season, with
social media and online
advertising as the two
key media for consumer
research on shopping
A tentative return
to out-of-home
Approximately one-third
of consumers are
engaging in “normal”
out-of-home activities
(shopping and local
traveling)
Loyalty shake-up
continues
Most Indian consumers
(93 percent) have tried
a new shopping
behavior since COVID-
19, primarily to obtain
value and quality

2.
McKinsey & Company 2
Confidence in own country’s economic recovery after COVID-191
% of respondents
15 14 13 17 17 22 21
32
41
49 52
50 50
46
65
67
44
37 35 33 33 32
14
1
Mixed The economy will be
impacted for 6–12 months or
longer and will stagnate or show
slow growth thereafter
Pessimistic: COVID-19 will
have lasting impact on the
economy and show regression
or fall into lengthy recession
Optimistic: The economy will
rebound within 2–3 months and
grow just as strong as or
stronger than before COVID-19
Indian consumers are the likeliest ones to be optimistic about
economic revival: 75 percent expect a rebound by early next year
1. Q: What is your overall confidence level surrounding economic conditions after the coronavirus (COVID-19) crisis subsides (ie, once there is herd immunity)? Rated from 1 “very optimistic” to 6 “very pessimistic.” Bars may not sum to
100% due to rounding.
Optimism driving higher spending | Current as of October 2021
US Germany
10/15–22
UK
10/15–22
10/9–15
Italy
10/15–22
France
10/15–22
Change in optimistic vs
Feb survey, percentage points
+3 +3
+13 +14
+18
Spain
10/15–22
+16
India
10/18–25
+3
Source: McKinsey & Company COVID-19 Consumer Pulse Survey
China
10/17–22
+6 +2
Japan
10/18–20
22
74
5

3.
McKinsey & Company 3
12 11 11 11 10 7 5
36
32
39 37
32
31
25 21
52 57
50 51 58 62
71 74
Mar 2020 Nov 2020
Sept 2020
June 2020
Apr 20202 May 2020
4
Feb 2021 Oct 2021
Optimism driving higher spending | Current as of October 2021
1. Q: What is your overall confidence level surrounding economic conditions after the coronavirus (COVID-19) crisis subsides (ie, once there is herd immunity)? Rated from 1 “very optimistic” to 6 “very pessimistic.” Figures may not sum to
100% because of rounding.
2. Average of weekly pulse surveys shown for Mar and Apr 2020.
Optimistic: The
economy will rebound
within 2–3 months and
grow just as strong as or
stronger than before
COVID-19
Mixed: The economy
will be impacted for 6–12
months or longer and will
stagnate or show slow
growth thereafter
Pessimistic: COVID-
19 will have lasting
impact on the economy
and show regression or
fall into lengthy recession
Source: McKinsey & Company COVID-19 India Consumer Pulse Survey, 10/18–10/25/2021, n = 1,002; 2/18–2/28/2021, n = 1,019; 11/9–11/20/2020, n = 1,091; 9/18–9/27/2020, n = 1,051; 6/19–6/22/2020,
n = 624; 5/22–5/25/2020, n = 614; 5/1–5/4/2020, n = 648; 4/10–4/13/2020, n = 631; 4/3–4/6/2020, n = 601; 3/27–3/30/2020, n = 582, sampled and weighted to match India general population 18+ years
Optimism about the economy in India has improved from about 50
percent optimistic to about 75 percent over the past 18 months
Confidence in own country’s economic recovery after COVID-19,1 % of respondents

4.
McKinsey & Company 4
Millennials and vaccinated consumers are relatively more
optimistic
Optimism driving higher spending | Current as of October 2021
Confidence in own country’s economic recovery after COVID-191
% of respondents
13
21
30
75
57
4
Vaccinated Unvaccinated
1. Q: What is your overall confidence level surrounding economic conditions after the coronavirus (COVID-19) crisis subsides (ie, once there is herd immunity)? Rated from 1 “very optimistic” to 6 “very pessimistic.”
2. Baby boomers includes silent generation.
5 5 9
27
18
23
23
68
78
72 68
Gen Z Baby boomers2
Millennials Gen X
4
Optimistic Mixed Pessimistic
Source: McKinsey & Company COVID-19 India Consumer Pulse Survey, 10/18–10/25/2021, n = 1,002, sampled and weighted to match India general population 18+ years
By generation By vaccination status

5.
McKinsey & Company 5
Optimism driving higher spending | Current as of October 2021
16
10 10 8
21
22
17
12
63
68
73
80
Millennials Gen X
Gen Z Baby boomers3
10
20
20
12
70 68
Vaccinated Unvaccinated
11
19
70
Overall
1. Q: When do you expect your routines will return to normal? Figures may not sum to 100% because of rounding.
2. Q: Which best describes your vaccination status?
3. Baby boomers includes silent generation.
Source: McKinsey & Company COVID-19 India Consumer Pulse Survey, 10/18–10/25/2021, n = 1,002, sampled and weighted to match the India general population 18+ years
In or after 2022 In 2021 Not affected/already returned
By generation By vaccination status2
Younger generations
are more optimistic
about the return of
normal routines; 80%
of older consumers
expect a longer lead
time
20% of unvaccinated
consumers are
engaging in normal
routines
Just one in ten say their routines are back to normal, but most
expect that normalcy will return to everyday routines in 2022
Expectations on routines returning to normal,1 % of respondents

6.
McKinsey & Company 6
An increasing portion of consumers say their income, spending, and
savings are stable compared with the same period last year
Optimism driving higher spending | Current as of October 2021
About the same
Reduced slightly/a lot Increased slightly/a lot
20
20
Past 2 weeks
29
Past 2 weeks
51
33
47
24
35
41
Past 2 weeks Past 2 weeks
28
27
22
50 48
25
Past 2 weeks
29
28
43
Past 2 weeks
26
38
40
Past 2 weeks
20
Past 2 weeks
40
26
36
43
31
Past 2 weeks
Source: McKinsey & Company COVID-19 India Consumer Pulse Survey, 10/18–10/25/2021, n = 1,002; 2/18–2/28/2021, n = 1,019; 9/18–9/27/2020, n = 1,051, sampled and weighted to match India general
population 18+ years
1. Q: How has the coronavirus (COVID-19) crisis affected the following over the past 2 weeks? Figures may not sum to 100% because of rounding.
Household income Household spending Household savings
Nov 2020 Feb 2021 Nov 2021
Nov 2020 Feb 2021 Nov 2021
Nov 2020 Feb 2021 Nov 2021
COVID-19 impact on household finances,1 % of respondents

7.
McKinsey & Company 7
About 60 percent consumers say it will take until 2022 for their
finances to be back to normal
Optimism driving higher spending | Current as of October 2021
25
17 18
24
16
22
13
7
59 61
69 69
Gen Z Millennials Gen X Baby boomers3
20
28
18 5
62
67
Unvaccinated
Vaccinated
In or after 2022 In 2021 Not affected/already returned
20
17
63
Overall
1. Q: When do you expect your personal/household finances will return to normal? Figures may not sum to 100% because of rounding.
2. Q: Which best describes your vaccination status?
3. Baby boomers includes silent generation.
Source: McKinsey & Company COVID-19 India Consumer Pulse Survey, 10/18–10/25/2021, n = 1,002, sampled and weighted to match India general population 18+ years
By generation By vaccination status2
Across
generations, 20–
25% of consumers
say their finances
have not been
affected or have
already returned to
normal
Gen Z is the least
affected age cohort
Expectations on personal/household finances
returning to normal,1 % of respondents

8.
McKinsey & Company 8
Optimism driving higher spending | Current as of October 2021
While a majority of consumers still want to splurge, the intent to
spend has moderated among older and middle-income consumers
1. Q: With regard to products and services you will spend money on, do you plan to splurge/treat yourself in 2021? For example, are there categories of products or services you have spent less on over the last year and half which you feel you
will spend more on now?
2. Baby boomers includes silent generation.
Source: McKinsey & Company COVID-19 India Consumer Pulse Survey, 10/18–10/25/2021, n = 1,002, 2/18–2/28/2021, n = 1,019, sampled and weighted to match India general population 18+ years
Do not plan
on splurging
Plan on
splurging
26
74
83
17
Oct 2021
Feb 2021
Millennials
Gen X
Baby boomers2
77%
−10
75%
−19
Gen Z 73%
−15
81%
−15
87%
4
84%
−5
67%
−8
47%
−25
51%
−22
67%
33
63%
−14
69%
−3
Generation
Respondents who plan/do not plan to
splurge/treat themselves in 20211
% of respondents
Low
(<1M rupees/year)
Middle
(1M–2M rupees/year)
High
(>2M rupees/year)
>70%
<30% 50-70%
30-50% p.p. change from Feb 21
XX
Respondents who plan to splurge, by household income, %
Change < −10 pp
.

9.
McKinsey & Company 9
Top priorities for consumers wanting to treat themselves include
dining out and travel, perhaps indicating more out-of-home activity
Optimism driving higher spending | Current as of October 2021
Categories where consumers intend to treat themselves1
% of all respondents with intent to splurge
1. Q: You mentioned that you plan to splurge/treat yourself in next 6 months. Which categories do you intend to treat yourself to? Please select all that apply.
2. Baby boomers includes silent generation.
47
46
45
43
43
40
37
35
35
33
31
24
18
Restaurants, dining out, bars
Personal services
Travel, lodging, vacation
Apparel, shoes, accessories
Makeup, skin-care products
Electronics
Fitness, sports, outdoors
Items for your home
Out-of-home entertainment
Household essentials
Sports apparel and equipment
Pets
Outdoor living
Millennials Gen X
Gen Z
Baby
boomers2
35 52 46 43
37 49 49 41
41 43 52 43
42 44 36 59
44 47 33 35
34 43 40 33
24 40 35 56
28 40 31 39
30 40 34 28
Generational cut
26 35 36 34
28 32 33 17
16 31 23 8
17 20 17 6
Change from
Feb 2021,
percentage points
Source: McKinsey & Company COVID-19 India Consumer Pulse Survey, 10/18–10/25/2021, n = 1,002, 2/18–2/28/2021, n = 1,019, sampled and weighted to match India general population 18+ years
Between −3 and 3
< −3 >3
−4
−2
−3
N/A
N/A
−8
−8
−8
−9
−2
N/A
N/A
N/A
Categories
Difference from all respondents
percentage points

10.
McKinsey & Company 10
Consumers report positive net intent to spend across most
categories; net intent has increased since February
Net intent >1
Net intent −15 to 0
Net intent: < −15
7
34
21
24
24
27
26
21
30
28
21
8
17
27
20
23
13
45
22
35
28
30
30
24
30
27
26
29
38
35
32
27
32
30
33
Restaurant
Groceries
10
Tobacco products
Apparel
Footwear
Alcohol
Food takeout and delivery
Quick-service restaurant
Jewelry
Accessories
Toys and baby supplies
Household supplies
Personal-care products
Skin care and makeup
Home and furniture
Sports and outdoors
Home improvement, garden
Kitchen and dining
Decrease Stay the same Increase
13
16
17
24
26
18
14
16
18
19
27
23
33
27
28
34
29
28
44
36
25
29
36
30
42
30
35
32
27
33
31
35
34
30
30
Entertainment at home
Vitamins and OTC medicine
Pet food and supplies
Pet-care services
Out-of-home entertainment
Books, magazines, newspapers
Consumer electronics
Fitness and wellness
Personal-care services
Gasoline
Vehicles
10
Short-term home rentals
Hotel/resort stays
Travel by car
Cruises
Adventures and tours
International flights
Domestic flights
Net
intent2
20
8
5
10
12
28
14
17
0
10
−2
8
6
−4
34
13
1. Q: Over the next 2–3 months, do you expect that you will spend more, about the same, or less money on these categories than usual? Figures may not sum to 100% because of rounding.
2. Net intent is calculated by subtracting the % of respondents stating they expect to decrease spending from the % of respondents stating they expect to increase spending.
Expected spending per category over the next 2 weeks vs usual1
% of respondents
5
-10
+8
+3
+7
+12
+9
+18
+8
+10
-1
+3
+6
+8
+9
15
-3
+9
Change since
Feb 2021
Change since
Feb 2021
15 -1
+5
-3
+6
+9
+19
+1
+4
+8
+7
+10
+8
+10
-3
+18
+23
+20
1 +24
Net
intent2
−3
38
8
30
0
−12
14
4
6
3
−2
9
−2
25
15
12
7
20
Source: McKinsey & Company COVID-19 India Consumer Pulse Survey, 10/18-10/25/2021, n = 1,002, 2/18-2/28/2021, n = 1,019; sampled and weighted to match the India general population 18+ years
Optimism driving higher spending | Current as of October 2021

11.
McKinsey & Company 11
−70
−80
−10
30
−20
−50
40
−60
−40
−30
0
10
20
May
2020
Mar
2020
Apr
2020
June
2020
Sept
2020
Nov
2020
Nov
2021
Feb
2021
Expected spending per category over the next 2–3 months vs usual1
Net intent2
Source: McKinsey & Company COVID-19 India Consumer Pulse Survey, 10/18–10/25/2021, n = 1,002; 2/18–2/28/2021, n = 1,019; 11/9–11/13/2020, n = 2,024; 10/23–10/27/2020, n = 2,021; 9/18–9/24/2020, n = 1,026; 8/19–8/23/2020, n =
2,026; 7/30–8/2/2020, n = 2,024; 7/7–7/12/2020, n = 1,923; 6/15–6/21/2020, n = 2,006; 6/1–6/7/2020, n = 1,966; 5/18–5/24/2020, n = 1,975; 5/11–5/17/2020, n = 2,002; 5/4–5/10/2020, n = 1,993; 4/27–5/3/2020, n = 2,105; 4/20–4/26/2020, n =
1,052; 4/13–4/19/2020, n = 1,052; 4/6–4/12/2020, n = 1,063; 3/30–4/5/2020, n = 1,484; 3/23–3/29/2020, n = 1,119; 3/20–3/22/2020, n = 1,073; 3/16–3/17/2020, n = 1,042, sampled and weighted to match India general population 18+ years
Net intent to spend has increased across all categories during the
past year
Skin care and makeup
Groceries
Consumer electronics
Household supplies
Fitness and wellness
​Personal-care products
Apparel
Domestic flights
Meals at restaurant
Out-of-home
entertainment
1. Q: Over the next 2–3 months, do you expect that you will spend more, about the same, or less money on these categories than usual? Figures may not sum to 100% because of rounding.
2. Net intent is calculated by subtracting the % of respondents stating they expect to decrease spending from the % of respondents stating they expect to increase spending.
Optimism driving higher spending | Current as of October 2021

12.
McKinsey & Company 12
1. Q: Which best described how you have researched the following categories over the last 3 months?
2. Q: Which best describes how you have purchased the following categories over the last 3 months?
13
12
10
14
15
13
14
6
13
14
28
13
8
8
9
8
68
62
63
61
62
65
62
60
67
57
59
67
59
59
62
58
19
26
27
25
23
22
24
34
20
29
13
20
33
33
29
34
Skin care and makeup
Vitamins, supplements, OTC medicine
Kitchen and dining
Personal-care products
Groceries
Home improvement, gardening supplies
Consumer electronics
Household supplies
Fitness and wellness services
Footwear
Pet food, supplies
Jewelry
Home decoration, furniture
Apparel
Accessories
Sports and outdoors equipment, supplies
Research and purchase only in stores Omnichannel Research and purchase only online
Omnichannel ascending: Around 60 percent or more consumers
use omnichannel for shopping and buying in all categories
Omnichannel is ascendant | Current as of October 2021
Product searches1 and purchases2 by channel
% of respondents who purchased in these categories in the last 3 months
Source: McKinsey & Company COVID-19 India Consumer Pulse Survey, 10/18–10/25/2021, n = 1,002, sampled and weighted to match India general population 18+ years

13.
McKinsey & Company 13
Millennials most influenced by social media for their purchases
across all categories
1. Q: Think about the purchases you have made in the following categories over the past 3 months. Were you influenced toward a certain brand by a post on social media in the following categories?
2. Baby boomers includes silent generation.
73
73
70
69
68
68
68
67
66
65
63
56
55
54
52
51
Home improvement and gardening supplies
Fitness and wellness services
Home decoration and furniture
Accessories
Sports and outdoors equipment and supplies
Skin care and makeup
Apparel
Consumer electronics
Kitchen and dining
Personal-care products
Jewelry
Footwear
Pet food and supplies
Vitamins, supplements, over-the-counter medicine
Groceries
Household supplies
Millennials Gen X
Gen Z
Baby
boomers2
77 71 63
74 76 70 65
61 71 74 75
66 75 66 51
59 71 65 69
75 73 61 52
67 70 67 60
71 71 65 47
72 71 59 48
Generational cut
67 70 51 67
68 75 51 37
55 64 51 14
52 64 50 38
Between −3 and 3
< −3 >3
Categories
Categories where respondents were influenced by social media1
% of all respondents who purchased in these categories in the last 3 months
49
51
66
45
68
61
63
46
47
44
30
28
34
Difference from all respondents
percentage points
Source: McKinsey & Company COVID-19 India Consumer Pulse Survey, 10/18–10/25/2021, n = 1,002, sampled and weighted to match India general population 18+ years
Omnichannel is ascendant | Current as of October 2021

14.
McKinsey & Company 14
17
36
41
39
35
36
38
44
19 46
49
33
33
14
52
15
16
10
35
16
37
36
46
36
17
18
20
37
50
51
36
45
20
35
48
13
14
45
23
21
44
19
32
52
37
56
45
35
52
13
43
1. Q: And have you used or done any of the following in the last 3 months? If yes, Q: Which best describes when you have done or used each of these items?
Self-reliance has remained stable, and usage of online portals has
increased for Indian consumers in past three months
Omnichannel is ascendant | Current as of October 2021
19
15
52
21
17
35
27
17
27
35
22
32
38
19
29
40
44
Using less Using same Using more
Source: McKinsey & Company COVID-19 India Consumer Pulse Survey, 10/18–10/25/2021, n = 1,002, sampled and weighted to match India general population 18+ years
Frequency of participating1
% shown among consumers who report participating in the activity in the last 3 months
Used or did in last 3 months
% of total respondents
Drive-thru line for a fast-food restaurant
Curbside pickup from a restaurant
Used a food delivery provider
Self-checkout or scan-and-go at a physical store
Buy online, pick up in store
Curbside delivery at a store
Purchased secondhand products online
Downloaded/used a new store/restaurant app
Purchased directly from social media
Used an app/website for same-day delivery
Used an app/website for delivery within 2 hours
Shopped at a store I had not shopped at before for groceries
Cooked regularly for myself/my family
Personal care, grooming at home
Tried making something myself/DIY project
Changed my primary grocery store
Downloaded/used deal-finding plug-ins

15.
McKinsey & Company 15
Consumers have acquired at-home alternatives to out-of-home
activities, such as telemedicine, meal-kit delivery, and online games
1. Q: Have you used or done any of the following since the coronavirus (COVID-19) crisis started? If yes, Q: Which best describes when you have done or used each of these items?
Omnichannel is ascendant | Current as of October 2021
32
32
20
60
61
68
49
34
16
41
30
25
39
32
69
5 32
34
7
63
42
60
34
60
11 55
6
33
50
63
8
35
5
65
31
4
65
32
3
28
63
30
7
63
4
65
30
5
28
57
3
36
8 57
35
31
6
69
66
6
Using less Using about the same Using more
Source: McKinsey & Company COVID-19 India Consumer Pulse Survey, 10/18–10/25/2021, n = 1,002, sampled and weighted to match India general population 18+ years
Wellness app
Online personal training/fitness
Grocery delivery
Restaurant food delivery
Meal kit delivery
Online streaming
Video conferencing for professional use
Virtual hangouts and video chats for personal use
Telemedicine for physical health care
Telemedicine for mental health care
Playing online games
Watching online games
Remote learning for myself
Remote learning for my kids
Using social media
Frequency of participating1
% shown among consumers who report participating in the activity in the last 3 months
Used or did in last 3 months
% of total respondents

16.
McKinsey & Company 16
Consumers are more likely to substitute a retailer, brand, or
product than to wait for products to become available
1. Q: Over the last 3 months, have you wanted to buy something and not been able to purchase it because it was out of stock or otherwise not available?
2. Q: The most recent time this happened (when you wanted to buy something and it was not available), what did you do?
Source: McKinsey & Company COVID-19 India Consumer Pulse Survey, 10/18–10/25/2021, n = 1,002, sampled and weighted to match India general population 18+ years
29
71
Oct 2021
Could not purchase
at least 1 item
Able to purchase
all items
Respondents who planned to purchase
something but could not, due to unavailability1
% of respondents
44
31
10
10
5
Waited until product was available
at the same retailer
Did not buy anything
Bought a different brand or similar
product at a different retailer
Bought the product
at a different retailer
Bought a different product
at the same retailer
Consumer responses to stockouts2
% of respondents who could not make a planned purchase
Loyalty shake-up continues | Current as of October 2021

17.
McKinsey & Company 17
93
59
57
53
40
37
New shopping method2
Any new shopping behavior
Different brand
New digital shopping method
Different retailer/store/website
Private label/store brand
Loyalty shake-up continues | Current as of October 2021
All consumers
Between −3 and 3
< −3 >3
1. Q: Over the past 3 months, which of the following have you done? 7% replied “None of these.”
2. “New shopping method” includes curbside pickup and delivery apps.
3. Baby boomers includes silent generation.
Behaviors in past 3 months1
% of respondents
Changes in shopping behavior have been more much extensive
among younger consumers
Difference from all respondents,
percentage points
Gen Z Millennials
95 97
58 59
64 58
52 58
39 50
38 42
Generational cut
Gen X
Baby
boomers3
91 83
64 52
49 41
33 20
35 21
55 46
Source: McKinsey & Company COVID-19 India Consumer Pulse Survey, 10/18–10/25/2021, n = 1,002, sampled and weighted to match India general population 18+ years

18.
McKinsey & Company 18
Reason for trying a new brand since COVID-19 began1
% of respondents selecting reason in top 3
Loyalty shake-up continues | Current as of October 2021
1. Q: You mentioned you tried a new/different brand than what you normally buy. What were the main reasons that drove this decision? Select up to 3 relevant reasons. “Brand” includes different brand, new
private label/store brand. Overarching reason based on % of individual respondents responding to at least 1 reason in the group.
2. Baby boomers includes silent generation.
Larger package sizes
Better prices/promotions
Available where I’m shopping (ie, in store or online)
Better value
Supporting local businesses
9
Better shipping/delivery cost
12
Wanted to treat myself
Better quality
Natural, organic
Is more sustainable/better for the environment
Shares my values
20
The company treats its employees well
16
Wanted to try a new brand I found
Wanted to try a type of product I’ve never tried before
19
Wanted variety/change from my normal routine
Is cleaner/safer
Products are in stock
25
23
17
11
32
13
11
14
15
14
15
13
Availability 15
Value 60
Purpose-driven 39
Quality/organic 46
Novelty 32
Convenience 13
Health/hygiene 16
Personal choice 29
Baby
boomers2
Gen Z +
millennials Gen X
21 33
35
22 33
23
17 20
14
13 8
9
31 39
34
20 25
19
12 14
13
13 15
13
12 6
12
9 6
12
14 17
15
20 12
18
15 13
12
17 8
14
16 13
18
17 13
10
12 22
10
All consumers
Between −3 and 3
< −3 >3
Value was overall primary reason for brand switch; 40 percent of
baby boomers tried a new brand due to quality
x Net % of respondents per category
Difference from all respondents,
percentage points
Source: McKinsey & Company COVID-19 India Consumer Pulse Survey, 10/18–10/25/2021, n = 1,002, sampled and weighted to match India general population 18+ years

19.
McKinsey & Company 19
A tentative return to out-of-home | Current as of October 2021
33
36
24
28
22
20
Sept 2020
Oct 2021
Feb 2021
Nov 2020
June 2020
May 2020
Overall
21
Vaccinated Unvaccinated
34
38
Gen X
Gen Z Millennials
21
34
Baby Boomers3
32
32 32
34
Low
(<1M rupees)
Medium (1M–
2M rupees)
High
(>2M rupees)
1. Q: Which best describes when you will regularly return to stores, restaurants, and other out-of-home activities? Chart shows those already participating in these activities.
2. Gen Z are people under 25 years old, millennials are 25–44 years old, Gen X are 45–54 years old, and baby boomers are 55 years old and above.
3. Baby boomers includes silent generation.
Source: McKinsey & Company COVID-19 India Consumer Pulse Survey, 10/18–10/25/2021, n = 1,002; 2/18–2/22/2021, n = 1,019; 11/9–11/13/2020, n = 2,024; 9/18–9/24/2020, n = 1,026; 6/15–
6/21/2020, n = 2,006; 5/18–5/24/2020, n = 1,975, sampled and weighted to match India general population 18+ years
By
generation2
By
vaccination
adoption
By income
38%
of Gen Z are doing out-
of-home activities
32%
of higher-income
households are doing
out-of-home activities
34%
of people who are
vaccinated are doing
out-of-home activities
Consumers engaging in ‘normal’ out-of-home activities,1 % of respondents
Almost one-third of Indian consumers say they are engaging in
‘normal’ out-of-home activities

20.
McKinsey & Company 20
Out-of-home activities done in the past 2 weeks1
% shown for respondents who engaged in the activity at least once prior to COVID-19
A tentative return to out-of-home | Current as of October 2021
1. Q: Did you leave your house for the following activities over the past 2 weeks?
Social
Personal
care
Entertain-
ment 57
40
40
36
43
52
60
56
56
Visit a crowded outdoor public place
Dine indoors at a restaurant or bar
Go out for family entertainment
Attend an indoor cultural event
Attend an outdoor event
Go to the gym or fitness studio
Go to a hair or nail salon
Get together with family
Get together with friends
69
76
60
60
57
54
60
32
39
36
42
Travel by airplane
Work outside my home
Shop for groceries/necessities
Use a ride-sharing service
Shop for non-necessities
Go to a shopping mall
Use public transportation
Travel more than 2 hours by car
Travel by train
Stay in a hotel
Rent a short-term home
Work
Shopping
Transport/
travel
≥50%
<50%
Seven in ten consumers have started going back to work and
grocery shopping; return is slower for travel and entertainment
Source: McKinsey & Company COVID-19 India Consumer Pulse Survey, 10/18–10/25/2021, n = 1,002, sampled and weighted to match India general population 18+ years

21.
McKinsey & Company 21
1. Q: With the rise of the Delta variant of COVID-19, how, if at all, has your out-of-home behavior changed?
7 6
16 15 14
50
39 43
30
39 37
Medium
(1M–2M
rupees)
4
Low
(<1M rupees)
High
(>2M rupees)
A tentative return to out-of-home | Current as of October 2021
6 10
14
17
43 34
37 39
Vaccinated Unvaccinated
6
14
43
37
Engage more
Overall
Engage with
adjusted behavior
Engage less
Engage same as
before Delta
By income By vaccination status
Lower-income
consumers are more
likely to adjust out-of-
home behavior rather
than engaging less
More than one-quarter
of unvaccinated
consumers have not
reduced or changed
their out-of-home
behavior despite of
Delta variant
Adjustments to out-of-home behavior due to prevalence of Delta variant,1 % of respondents
Roughly 40 percent of consumers—and more in the lower-income
group—have adjusted how they engage in out-of-home activities
Source: McKinsey & Company COVID-19 India Consumer Pulse Survey, 10/18–10/25/2021, n = 1,002, sampled and weighted to match India general population 18+ years

22.
McKinsey & Company 22
A tentative return to out-of-home | Current as of October 2021
1. Q: Which best describes how you are engaging in each of these activities? Possible answers: “Not doing this at all”; “Doing this in the same way as pre-COVID-19, but less often”; “Doing this in a modified way vs. pre-COVID-19”;
“Doing this just as much and in the same way as I did pre-COVID-19.”
Work
Shopping
Transport/
travel
Social
Personal
care
Entertain-
ment Dine indoors at a restaurant or bar
34
33
69
67
26
66
Go out for family entertainment
67
31
Go to a hair or nail salon
Attend an indoor cultural event
36
64
Go to the gym or fitness studio
Attend an outdoor event
35
74
Visit a crowded outdoor public place
65
30
70
33
67
Get together with family
33
Get together with friends
29
68
71
Work outside my home
32
69
Shop for groceries/necessities
35
Shop for non-necessities
34
Go to a shopping mall 66
32
33
32
68
31
68
Use public transportation
65
Use a ride-sharing service
31
69
Travel by airplane
37
63
24
Travel by train
67
Stay in a hotel
76
Rent a short-term home
Travel more than 2 hours by car
Doing less, doing in a modified way
Doing as much as and in the same way as pre-COVID-19
The share of consumers who have modified their out-of-home
behavior ranges from 63 to 76 percent, depending on the activity.
Out-of-home activities engagement,1
% of respondents engaging in these activities today
Source: McKinsey & Company COVID-19 India Consumer Pulse Survey, 10/18–10/25/2021, n = 1,002, sampled and weighted to match India general population 18+ years

23.
McKinsey & Company 23
Main life events done in the last 12 months as a result of COVID1
% of respondents
A tentative return to out-of-home | Current as of October 2021
Change >3 pp
62
19
21
22
34
25
16
11
10
12
9
Set up a specific work-from-home space
Started homeschooling children3
Decided to change jobs
Worked more from home
Got a new pet at home (eg, dog, cat)
Renovated/remodeled my home
Set up a gym at home
Moved into a bigger home
Moved into a smaller home
Bought a property
Sold a property
Work/study
change
Oct 2021
Pet adoption
House move
Home
renovation
Investments/
divestments
Total2
Change from
Feb 2021,
percentage points
4
5
−1
0
4
−2
−3
−1
6
1
8
16
75
19
55
19
1. Q: Which of the following have you done in the last 12 months as a result of the COVID-19 crisis?
2. Total percentage of people who choose option(s) in the category.
Even though consumers have increased out-of-home activity,
working from home continues to prevail
Source: McKinsey & Company COVID-19 India Consumer Pulse Survey, 10/18–10/25/2021, n = 1,002, 2/18–2/28/2021, n = 1,019, sampled and weighted to match India general population 18+ years

24.
McKinsey & Company 24
Almost 60 percent of consumers were excited for the holiday
shopping season, especially high-income groups and millennials
Holiday spend revival | Current as of October 2021
17 17 20 14
28
19
26
43
55
64
54
42
Gen Z Millennials Gen X Baby
boomers2
Source: McKinsey & Company COVID-19 India Consumer Pulse Survey, 10/18–10/25/2021, n = 1,002, sampled and weighted to match India general population 18+ years
1. Q: Which best describes your general attitude toward the holiday shopping season? Selected from "Anxious," "Stressed," "Neutral," "Eager,“ "Excited," and "Other."
2. Baby boomers includes silent generation.
18
25
57
Stressed/
anxious
Overall
Excited/
eager
Neutral
Consumer attitudes toward the 2021 holiday shopping season1
% of respondents
By annual income By generation
31
21
15
28
28
24
41
51
61
Low
(<1M
rupees)
Medium
(1M–2M
rupees)
High
(>2M
rupees)

25.
McKinsey & Company 25
Roughly three in ten consumers said they would spend more this
year on travel for the holidays compared to last year
Holiday spend revival | Current as of October 2021
Out-of-
home eating
Family travel
31
26
38
35
43
29
36
Personal travel
24
41
31
45
Gifts (for myself
and others)
23
39
Large household
appliances
22
37
14
35
51
Redecorate my
home, put out
seasonal items
1. Q: If you compare the upcoming holidays 2021 with the ones last year, how much do you plan to change your spending level in the following categories?
Will spend less
Will spend more Will spend about the same
2021 holiday spending plans vs. spending in 20201
% of respondents who spent on the category during the holidays in 2020
Slightly more than
half of consumers
intended to reduce
holiday spending
on decorating the
home
Source: McKinsey & Company COVID-19 India Consumer Pulse Survey, 10/18–10/25/2021, n = 1,002; sampled and weighted to match the India general population 18+ years

26.
McKinsey & Company 26
Shoppers researching holiday purchases expected to most often
consult social media, online ads, and brand websites
Holiday spend revival | Current as of October 2021
51
45
43
29
27
23
23
15
15
Emails from relevant retailers
Social media
Offline advertisements2
Retailer websites
Advertisements on TV or streaming media
Brand websites
Browsing in stores
Browsing through holiday markets
Browsing in pop-up stores
Generational cut
Gen Z
56
30
Millennials
51
26
Gen X
49
29
Baby
boomers3
43
17 19 12 6
22 25 22 18
22 20 24 37
41 45 44 51
22
40 44 43 45
12 20 12 11
27 28 29 35
Research channels
Between −3 and 3
< −3 >3
Difference from all respondents, percentage points
1. Q: Which channels are you planning to use to get new ideas and do research for your holiday shopping? Please select top 3.
2. Offline advertisements include catalogs, fliers, magazines, and newspaper advertisements.
3. Baby boomers includes silent generation.
Consumer research plans by channel for holiday 20211
% of all respondents
Source: McKinsey & Company COVID-19 India Consumer Pulse Survey, 10/18–10/25/2021, n = 1,002, sampled and weighted to match India general population 18+ years

27.
McKinsey & Company 27
For those who expected to be influenced by social media, the most
influential channels were YouTube, Facebook, and Instagram
Holiday spend revival | Current as of October 2021
1. Q: How much influence do you expect social media to have on your holiday purchase decisions this season? Selected from "Significant influence," "Some influence," and "Will not influence."
2. Q: Which channels do you think will influence your holiday purchase decisions? Asked of respondents indicating social media would influence their 2021 holiday purchases.
3. Baby boomers includes silent generation.
Expected influence of social media on 2021 holiday
purchases,1 % of respondents
90
92
93
90
72
10
8
7
10
28
Millennials
Overall
Gen Z
Gen X
Baby boomers3
Will not influence
Will influence
Most influential social-media channels2
% of respondents who expect social-media influence
Top 3 platforms by %
Twitter Snapchat Pinterest
Facebook Instagram
YouTube
26 28 28
52 88
88
46 33 27
85 79
92
37 21 23
84 62
84
32 17 17
78 44
88
38 28 25
77 74
89
Source: McKinsey & Company COVID-19 India Consumer Pulse Survey, 10/18–10/25/2021, n = 1,002, sampled and weighted to match India general population 18+ years

28.
McKinsey & Company 28
Most consumers this year planned to limit the size of holiday get-
togethers
Holiday spend revival | Current as of October 2021
1. Q: What best describes what you expect to do for the holidays this year [2021]? Figures may not sum to 100% because of rounding.
2. Q: What best describes your holiday get-togethers last year [2020]? Figures may not sum to 100% because of rounding.
3. Baby boomers includes silent generation.
18
41
17
24
Do not plan to travel and will limit getting
together to immediate family only
Will travel to a limited family get-together
Will not travel but will have a family/friends
get-together outside my immediate family
Will travel to and attend a large
get-together with family and friends
Split by annual income Split by generation
19 23 14
7 20 19 18 10
33 36 44 37 39 46
11 47
20 19 16 21 18 15
−7 8
28 26 22 22 20 26
−11 34
Medium
(1M–2M
rupees)
Low (<1M
rupees)
High
(>2M
rupees) Millennials Gen X
Gen Z
Baby
boomers3
Change
from 20202
percentage
points
Holiday plans in 20211
% of respondents
< −3 Between −3 and 3 >3
Difference from all respondents, percentage points
Source: McKinsey & Company COVID-19 India Consumer Pulse Survey 10/9–10/15/2021, n = 1,002, sampled and weighted to match the India general population 18+ years

29.
McKinsey & Company 29
Number of in-person holiday-related events was expected to
decrease compared with pre-COVID-19 across all generations
Holiday spend revival | Current as of October 2021
1. Q: About how many in-person holiday-related events do you attend in a typical year without COVID-19?
2. Q: Compared with the number of in-person events you attended pre-COVID-19, about how many in-person events do you expect to attend over the holidays this coming year [2021]?
3. Baby boomers includes silent generation.
7.3
6.7
6.4
Parties with friends
Family gatherings
Work-related gatherings
Event type
Between −1 and 1
< −1 >1
Millennials Gen X
Gen Z
Baby
boomers3
Generational cut
6.8 7.7 7.1 7.3
6.5 7.2 6.5 5.7
6.0 6.9 6.3 5.7
Difference in
number vs
pre-COVID-19
−0.4
−0.6
−0.7
Holiday-related events consumers attended1 or expect to attend2 in 2021
Number of events
Difference from all respondents, percentage points
Source: McKinsey & Company COVID-19 India Consumer Pulse Survey 10/9–10/15/2021, n = 1,002, sampled and weighted to match India general population 18+ years

30.
McKinsey & Company 30
1. Q: Do you plan to shop for the holidays earlier or later in 2021 compared with last year’s holiday season [2020]? Possible answers: “significantly earlier”; “slightly
earlier”; “starting at about the same time”; “slightly later”; “significantly later”; “I am not planning to do any holiday season shopping.” Figures may not sum to 100%
because of rounding; 4% of respondents surveyed indicated they do not plan on shopping for the holidays this year.
2. Baby boomers includes silent generation.
3. Q: What are the primary reasons you plan to shop earlier for the holidays in 2021?
17
58
25
Low
63
15
Medium
21
52
27
21
High
54
Overall
26
20
About the
same time
Earlier
Later
Overall By income By generation
Millennials
17
53
62
Gen Z
45
29
18
21
45
31
24
Gen X
29
26
Baby
boomers2
More than half of Gen Z and millennials intended to start holiday
shopping earlier this year
Holiday spend revival | Current as of October 2021
Main reasons for consumers
to start shopping earlier3
% of respondents who plan to shop
earlier in 2021
49%
47%
41%
34%
Holiday shopping start vs last year1
% of respondents who plan to shop for the 2021 holidays
of Indian consumers
want to do something
fun right now
are concerned about
unexpected challenges
due to COVID-19
are concerned about
shipping lead time
Source: McKinsey & Company COVID-19 India Consumer Pulse Survey, 10/18–10/25/2021, n = 1,002, sampled and weighted to match India general population 18+ years
are concerned
about availability

31.
McKinsey & Company 31
Over half of respondents expect to shop somewhere new, with
the reasons divided among safety, value, and broad selection
Holiday spend revival | Current as of October 2021
More value for money
Safety
Check more things
off my list at once
59
25
62
26
28
Shop earlier
Shop more at local/independent stores
Shop at a different place
Shop more in person
Shop more online
1. Q: Please select all the ways you anticipate your holiday shopping might be different from last year. Figures may not sum to 100% because of rounding.
Anticipated different holiday shopping behaviors1
% of respondents
Reasons to change place to shop during
holiday season
% of respondents who intend to shop at a different place
Source: McKinsey & Company COVID-19 India Consumer Pulse Survey, 10/18–10/25/2021, n = 1,002, sampled and weighted to match India general population 18+ years
28
32
26

32.
McKinsey & Company 32
Concerning where to shop, consumers most often say their
decisions are based on quality and prices
Holiday spend revival | Current as of October 2021
35
23
28
14
13
47
26
23
14
12
23
19
Product availability
Better prices/promotions
Better shipping/delivery costs
Ability to see products in person
Easy to shop across store and online
Supporting local businesses
Convenience
Ability to purchase most gifts from 1 place
Better quality
Company treating its employees well
Cleaner/better hygiene measures
Offers unique items
Generational cut
Gen Z Millennials Gen X
21
32 30 26
46
36 33 33
22
24 21 25
20
28 26 29
9
11 16 11
15
14 14 13
12
12 15 13
3
11 16 9
14
21 18 21
53
44 46 51
39
15 23 24
Baby
boomers2
22 23 25 20
1. Q: Please tell us what your primary considerations will be when deciding where to shop. Please select up to 3.
2. Baby boomers includes traditional or silent generation.
Between −3 and 3
< −3 >3
Primary considerations when deciding where to shop1
% of respondents
Convenience 45
Value 51
x Net % of respondents per category
Availability 49
Quality 47
Uniqueness 19
Health/hygiene 23
Purpose-driven 24
Difference from all respondents, percentage points
Source: McKinsey & Company COVID-19 India Consumer Pulse Survey, 10/18–10/25/2021, n = 1,002, sampled and weighted to match India general population 18+ years