1.
McKinsey & Company 1
Five emerging consumer themes in March 2022
1 2
Source: McKinsey & Company COVID-19 India Consumer Pulse Survey, 3/11–3/24/2022, n = 1,009, sampled and weighted to match the India general population 18+ years
5
4
3
Optimism driving
higher spending
Optimism for an economic
rebound continues to
grow, and intent to splurge
has increased across
generations
Household finances have
improved; about 60% of
consumers say their
finances are back to
normal
Omnichannel is
ascendant
More than six in ten
consumers use
omnichannel for purchase
in most categories
Social media and OTT
use reached an all-time
high with increasing
influence on purchase
decisions.
Loyalty shakeup
continues
Most consumers,
especially those
younger or with higher
incomes, are trying new
shopping behaviors
A quarter or more
switch brands or
retailers if a product is
unavailable
Home economy is
pervasive
80–90% of consumers
continue to invest in
home improvement
In contrast, about 40%
of consumers report
engaging in “normal”
out-of-home activities
Positive spend
impact
Almost all categories
experienced continued
positive intent to spend
Premiumization and
inflation have
contributed to an
increase in spend in
certain categories

2.
McKinsey & Company 2
Confidence in own country’s economic recovery after COVID-19,1 % of respondents
11 15 15
21
14
29 32 29
29
34
46
56
51 63
48 47
59
68
55
38
28 27
23 23 21
12
3
20
75
5
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 more likely than other countries’ consumers
to be optimistic about their country’s economy
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.
Japan
China
3/11–20 3/16–26
Australia
3/16–25
Korea
3/19–26
US
3/1–25
Change in optimistic vs
last wave survey, percentage points
−12 −6 −10 +15 −2
Source: McKinsey & Company COVID-19 Consumer Pulse Survey
India
3/11–24
+1
Oct 2021 Oct 2021 Oct 2021 Oct 2021
Indonesia
3/16–26
+15
Sept 2020 Nov 2020 June 2020
Germany
3/22–28
France
3/23–28
UK
3/22–29
−10 −9 −12
Oct 2021
Oct 2021
Oct 2021
Optimism driving higher spending | Current as of March 2022

3.
McKinsey & Company 3
12 11 11 11 10 7 5 5
36
32
39 37
32
31
25 21 20
52 57
50 51 58 62
71 74 75
Mar 2022
June 2020 Nov 2020
Sept 2020
Mar 2020 Apr 20202 Feb 2021
May 20202
4
Oct 2021
Optimism driving higher spending | Current as of March 2022
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 March and April 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, 3/11–3/24/2022, n = 1,009; 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 the India’s general
population 18+ years
Indian consumers’ overall optimism has steadily increased over the
past two years
Confidence in own country’s economic recovery after COVID-19,1 % of respondents

4.
McKinsey & Company 4
Baby boomers, millennials, and vaccinated consumers are the most
optimistic segments
Confidence in own country’s economic recovery after COVID-191
% of respondents
21
20
21
76
59
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.
6 9
23
18
21
17
71
79
70
81
Baby boomers2
Gen Z
3 2
Millennials Gen X
Optimistic Mixed Pessimistic
Source: McKinsey & Company COVID-19 India Consumer Pulse Survey, 3/11–3/24/2022, n = 1,009, sampled and weighted to match the India general population 18+ years
By generation By vaccination status
Optimism driving higher spending | Current as of March 2022

5.
McKinsey & Company 5
24
19 17
22
36
30 35
14
40
51 48
64
Gen Z Millennials Gen X Baby boomers3
20
28
33 14
48
59
Vaccinated Unvaccinated
20
31
48
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.
McKinsey & Company COVID-19 India Consumer Pulse Survey, 3/11–3/24/2022, n = 1,009, sampled and weighted to match the India general population 18+ years
After June 2022
By June 2022
Not affected/already returned
By generation By vaccination status2
Younger generations
are more optimistic
about the return, while
~60% of older
consumers expect a
longer lead time
Vaccinated consumers
expect to return to
normalcy sooner than
unvaccinated
consumers
Key findings
Overall, nearly half of consumers expect pre-COVID-19 routines
will return after June 2022
Expectations on routines returning to normal,1 % of respondents
Optimism driving higher spending | Current as of March 2022

6.
McKinsey & Company 6
More consumers than last year report that their incomes, spending,
and savings have increased
About the same
Reduced slightly/a lot Increased slightly/a lot
47
33
20
Past 2 weeks
35
24
41
Past 2 weeks
31
30
39
Past month
28
48
25
27
Past 2 weeks
29
43
Past 2 weeks
34
26
40
Past month
Past 2 weeks
43
38
26
Past 2 weeks
36
31
26
53
20
27
Past month
Source: McKinsey & Company COVID-19 India Consumer Pulse Survey, 3/11–3/24/2022, n = 1,009; 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
1. Q: How has the coronavirus (COVID-19) crisis affected the following over the past 1 month/2 weeks? Figures may not sum to 100% because of rounding.
Household income1
% of respondents
Household spending1
% of respondents
Household savings1
% of respondents
Feb 2021 Oct 2021 Mar 2022
Feb 2021 Oct 2021 Mar 2022
Feb 2021 Oct 2021 Mar 2022
Optimism driving higher spending | Current as of March 2022

7.
McKinsey & Company 7
Almost six in ten consumers say their personal finances have
returned to ‘normal’ or will have by Q2 2022
28 29 25
37
34 27
30
19
38
43 45 44
Gen Z Baby boomers3
Millennials Gen X
28
34
29
25
43 40
Vaccinated Unvaccinated
29
29
43
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, 3/11–3/24/2022, n = 1,009, sampled and weighted to match the India general population 18+ years
By generation By vaccination status2
~40% of baby
boomers say their
finances either
were not affected
or are back to
normal, vs ~30% of
Gen Z and
millennials
Expectations on personal/household finances
returning to ‘normal,’1 % of respondents
By June 2022
After June 2022
Not affected/already returned
Optimism driving higher spending | Current as of March 2022

8.
McKinsey & Company 8
Consumers still want to ‘splurge,’ and the intent to spend is high
across incomes and generations
​Source: McKinsey & Company COVID-19 India Consumer Pulse Survey, 3/11–3/24/2022, n = 1,009; 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
Feb 2021
83
17
17
74
26
Oct 2021
Plan on
splurging
83
Mar 2022
Do not plan
on splurging
Millennials
Gen X
Baby boomers2
81%
4
88%
13
Gen Z 46%
−26
75%
−6
87%
0
93%
10
93%
26
60%
13
95%
44
74%
7
81%
18
91%
22
Generation
2
Respondents who plan/do not plan to ‘splurge’
or ‘treat themselves’ in 20221
% of respondents
Low
(<500,000 rupees)
Middle
(500,000–2M
rupees)
High
(>2M rupees)
>70%
<30% 50–70%
30–50% p.p. change from Oct 21
XX
Respondents who plan to splurge, by household income, %
Optimism driving higher spending | Current as of March 2022
1. Q: With regard to products and services you will spend money on, do you plan to splurge/treat yourself in 2022? 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 in next 3 months?
2. Baby Boomers includes silent generation.

9.
McKinsey & Company 9
Splurging on household items and entertainment has seen a spike
since last year
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
44
43
41
40
39
37
35
30
29
11
Personal services
Electronics
Restaurants, dining out, bars
Travel, lodging, vacation
Apparel, shoes, accessories
Items for your home
Makeup, skin care products
Out-of-home entertainment
Fitness, sports, outdoors
Household essentials
Sports apparel and equipment
Pets
Outdoor living
Millennials Gen X
Gen Z
Baby
boomers2
1 1 −5 7
−3 2 −2 6
4 2 −6 −5
3 0 −2 −4
−4 3 −4 12
3 4 −5 −11
0 −1 1 0
6 1 −6 −4
−5 2 −2 10
Generational cut
5 2 −4 −12
−4 6 −6 1
−2 3 0 −11
2 1 −1 −9
Change from
Oct 2021,
percentage points
​Source: McKinsey & Company COVID-19 India Consumer Pulse Survey, 3/11–3/24/2022, n = 1,009; 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
Between −3 and +3
< −3 > +3
0
−2
0
1
−3
6
2
6
0
3
−1
−7
5
Categories
Difference from all respondents,
percentage points
Optimism driving higher spending | Current as of March 2022

10.
McKinsey & Company 10
More than 60 percent of consumers use omnichannel for purchases
in most of the categories
1. Q: Which best describes 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?
21
7
15
15
10
21
10
20
7
14
9
18
15
12
9
20
64
54
62
64
65
58
65
64
65
62
67
64
69
71
67
60
15
39
23
21
24
21
25
16
28
24
24
18
15
17
25
20
Food takeout/delivery
Toys and baby supplies
Groceries/food for home
Household supplies
Pet food and supplies
Fitness and wellness services
Personal-care products
Vitamins, supplements, and OTC medicine
Apparel
Footwear
Consumer electronics
Home decoration and furniture
Kitchen and dining
Home improvement and gardening supplies
Skin care and makeup
Books, magazines, newspapers
Research and purchase only in stores Research and purchase only online
Omnichannel
Product searches1 and purchases2 by channel
% of respondents who purchased and searched in these categories in the last 3 months
​Source: McKinsey & Company COVID-19 India Consumer Pulse Survey, 3/11–3/24/2022, n = 1,009, sampled and weighted to match the India general population 18+ years
​Omnichannel is ascendant | Current as of March 2022

11.
McKinsey & Company 11
Social media influences purchase decisions across most categories
for Gen Z and millennials
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.
63
55
70
76
67
65
73
69
68
63
70
59
62
67
75
59
Groceries/food for home
Apparel
Jewelry
Skin care and makeup
Household supplies
Personal care products
Footwear
Accessories
Consumer electronics
Home improvement and garden supplies
Sports and outdoors equipment, supplies
Kitchen and dining
Pet food and supplies
Home decoration and furniture
Fitness and wellness services
Vitamins, supplements, and OTC medicine
Millennials Gen X
Gen Z
Baby
boomers2
10 −6 −23
−5 6 0 −16
2 3 −4 −12
4 1 −4 −10
9 5 −3 −27
6 1 −2 −15
7 3 −6 −26
−1 −4 10 −19
1 −2 0 5
Generational cut
0 4 −10 5
−11 7 −4 1
−4 8 −4 −24
−10 3 6 −19
​Source: McKinsey & Company COVID-19 India Consumer Pulse Survey, 3/11–3/24/2022, n = 1,009, sampled and weighted to match the India general population 18+ years
Between −3 and +3
< −3 > +3
Categories
Categories where respondents were influenced by social media1
% of all respondents
−5
−3
−3
0
4
3
5
−4
−3
−4
7
−2
−10
Difference from all respondents,
percentage points
​Omnichannel is ascendant | Current as of March 2022

12.
McKinsey & Company 12
Almost all respondents engage on some social-media platforms at
least once a week
Frequency of engagement with social-media platforms1
% of all respondents
1. Q: What social-media platforms do you engage with, and if so, how frequently?
​Source: McKinsey & Company COVID-19 India Consumer Pulse Survey, 3/11–3/24/2022, n = 1,009, sampled and weighted to match the India general population 18+ years
99 97
91 87
75 71 66 64
52
3 9 13
25 29 34 36
48
LinkedIn
1
Instagram Pinterest
Overall YouTube Twitter
Facebook Snapchat Reddit
Never/less than weekly
Weekly or more
​Omnichannel is ascendant | Current as of March 2022

13.
McKinsey & Company 13
More than 90 percent of consumers view content on OTT
platforms at least once a week
Frequency of engagement with entertainment platforms1
% of all respondents
1. Q: What entertainment platforms do you engage with, and if so, how frequently?
​Source: McKinsey & Company COVID-19 India Consumer Pulse Survey, 3/11–3/24/2022, n = 1,009, sampled and weighted to match the India general population 18+ years
93
80 78 75
64
47
7
20 22 25
36
53
Other OTT
platform (eg,
Zee5,
MxPlayer)
Overall Sony Liv
Amazon Prime Netflix Disney Hotstar
Never/less than weekly
Weekly or more
​Omnichannel is ascendant | Current as of March 2022

14.
McKinsey & Company 14
70
35
54 76
65
30
70
40
64
45
56
60
25
58 66 68 82
72 74 78 80
0
50
5
55
10
15
20 Grocery delivery
Shopped at a new store
Purchased pre-owned
product
Used an app for
same-day delivery
Meal kit delivery
Restaurant food delivery
New store/restaurant app
Drive-thru lane
Changed my primary store
Purchased directly from social media
Personal care/grooming at home
Downloaded/used
deal-finding plug-ins
Used an app for 2-hour
or 1-hour delivery
Buy online, pick up in store
​Source: McKinsey & Company COVID-19 India Consumer Pulse Survey, 3/11–3/24/2022, n = 1,009, sampled and weighted to match the India general population 18+ years
Intent to use when COVID-19 crisis subsides2
% of new or increased users who intend to keep doing activity
User
growth
since
COVID-19
1
1. User growth is calculated as % of respondents who replied that they are new users over % of respondents who replied that they were using the product/service pre-COVID-19 (using more, using the same or using less) on Q: Which best
describes when you have done or used each of these items?
2. Q: Compared to now, will you do or use the following more, less, or not at all, once the coronavirus (COVID-19) crisis subsides (ie, once there is herd immunity)? Possible answers: “will stop this”; ”will reduce this”; “will keep doing what I am
doing now”; “will increase this.” Number indicates percent who chose “will keep doing what I am doing now” and “will increase this” among new or increased users.
Consumers have shifted their loyalty and shopping
behavior—and intend to continue the new patterns as the
COVID-19 crisis subsides
​Omnichannel is ascendant | Current as of March 2022

15.
McKinsey & Company 15
​Source: McKinsey & Company COVID-19 India Consumer Pulse Survey, 3/11–3/24/2022, n = 1,009, sampled and weighted to match the India general population 18+ years
59 61 81 83
68
25
62
0 85
5
67
60
15
65
63 64
35
79
65 78
76
66 69
45
70
55
75
84
71 72 73 75
74
0
77 80 82
Social player/video app
Social media
Watching e-sports
Video chat: personal
Wellness app
Remote learning: myself
NFTs (digital assets)
Online fitness
Online streaming
Playing online games
Videoconferencing: professional
Telemedicine: physical health
Telemedicine: mental health
Remote learning: my children
Digital banking
Augmented reality/
virtual reality
Cryptocurrency
Intent to use when COVID-19 crisis subsides2
% of new or increased users who intend to keep doing activity
User
growth
since
COVID-19
1
1. User growth is calculated as % of respondents who replied that they are new users over % of respondents who replied that they were using the product/service pre-COVID-19 (using more, using the same or using less) on Q: Which best
describes when you have done or used each of these items?
2. Q: Compared to now, will you do or use the following more, less, or not at all, once the coronavirus (COVID-19) ) crisis subsides (ie, once there is herd immunity)? Possible answers: “will stop this”; ”will reduce this”; “will keep doing what I am
doing now”; “will increase this.” Number indicates respondents who chose “will keep doing what I am doing now” and “will increase this” among new or increased users.
Intent to use digital services remains high, along with growth rate
of new tech such as digital assets and augmented or virtual reality
​Omnichannel is ascendant | Current as of March 2022

16.
McKinsey & Company 16
33
37
29
32
32 7
New store/restaurant app
Personal care/grooming at home
5
A drive-thru line for a fast-food restaurant
38
30
24
Buy online for in-store pickup
30
34
34
24
37
30
37
6
30
29
16
26
29
26
37
31
4
Deal-finding plug-ins
28
4
29
Augmented reality/virtual reality
Social-media direct purchase
36
7
7
42
Online secondhand products 32
7
5
34
30
35
Cryptocurrency
36
4
3
Same-day delivery
33
Changed primary grocery store
4
36
5
NFTs (digital assets)
Delivery within 2 hours or 1 hour
28
35
41
32
37
Do-it-yourself (DIY) project
28
8
Shopped at new store
24
5
20
Cooked regularly
41
36
6
18
37
25
33
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? Possible answers: “just started using since COVID-19 started”; “I have not used in
the last 3 months”; “I have used in the last 3 months at the same rate as before”; “3.I have used this more in the past 3 month than before”; “I have used this less in the past 3 months than before.”
2. Q: Compared to now, will you do or use the following more, less, or not at all, once the coronavirus (COVID-19) ) crisis subsides (ie, once there is herd immunity)? Possible answers: “will stop this”; ”will reduce this”; “will keep doing what I
am doing now”; “will increase this.” Number indicates respondents who chose “will keep doing what I am doing now” and “will increase this” among new or increased users.
​Source: McKinsey & Company COVID-19 India Consumer Pulse Survey, 3/11–3/24/2022, n = 1,009, sampled and weighted to match the India general population 18+ years
Intent to
continue2
Consumers continue to explore new technology, and their use of
services accelerated during the COVID-19 pandemic
68
71
70
60
77
78
74
68
68
77
78
79
71
66
76
74
Which best describes when you have done or used each of these items?1
% of respondents who have used in the last 3 months
Using more
Just started using Using same
Using less
​Omnichannel is ascendant | Current as of March 2022

17.
McKinsey & Company 17
Consumers’ usage of at-home alternatives to out-of-home activities
has increased
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? Possible answers: “just started using since COVID-19
started”; “using more since COVID-19 started”; “using about the same since COVID-19 started”; “using less since COVID-19 started.”
2. Q: Compared to now, will you do or use the following more, less, or not at all, once the coronavirus (COVID-19) crisis subsides (ie, once there is herd immunity)? Possible answers: “will stop this”; ”will reduce this”; “will keep doing what I am
doing now”; “will increase this.” Number indicates respondents who chose “will keep doing what I am doing now” and “will increase this” among new or increased users.
​Source: McKinsey & Company COVID-19 India Consumer Pulse Survey, 3/11–3/24/2022, n = 1,009, sampled and weighted to match the India general population 18+ years
6
3
26
Playing online gaming
37
30
Online personal training, fitness
13
36
40
24
26
5
28
42
23
27
Wellness app
49
35
34
Virtual hangouts and video chats for personal use
3
7
14
Digital banking
37
33
5
Meal kit delivery
44
35
31
32
12
41
13
Grocery delivery
Restaurant food delivery
46
7
15
31
Video conferencing for professional use
6
22
17
4
30
5 51
30
Online streaming
Telemedicine for physical health care
40
51
41
33
41
29
18
23
6
Telemedicine for mental health care
21
4
Watching online gaming
34
32
6
28
5
Remote learning for myself
32
34
Remote learning for my kids
32
8
Social player/video app
53
32
6
10
Used social media
23
77
78
82
64
71
79
76
70
71
58
67
67
65
65
66
63
76
Intent to
continue2
Which best describes when you have done or used each of these items?1
% of respondents who have used in the last 3 months
Using same
Using less
Just started using Using more
​Omnichannel is ascendant | Current as of March 2022

18.
McKinsey & Company 18
−10
−60
−80
−70
−20
−30
−50
−40
0
10
20
30
40
Feb
2021
Mar
2020
Apr
2020
May
2020
June
2020
Sept
2020
Nov
2020
Oct
2021
Mar
2022
Expected spending per category over the next 2–3 months vs usual1
Net intent2
Source: McKinsey & Company COVID-19 India Consumer Pulse Survey, 3/11–3/24/2022, n = 1,009; 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 the India’s general
population 18+ years
Consumer electronics
Groceries
Household supplies
Out-of-home
entertainment
Skin care and makeup
Fitness and wellness
​Personal-care products
Apparel
Domestic flights
Meals at restaurants
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.
Positive spend impact | Current as of March 2022
Net intent to spend has increased across most of the categories
since 2020, whereas grocery spend has stabilized

19.
McKinsey & Company 19
Consumers report positive net intent across all categories except
grocery, which is stabilizing
Net intent >1
Net intent −15 to 0
Net intent: < −15
​Source: McKinsey & Company COVID-19 India Consumer Pulse Survey, 3/11–3/24/2022, n = 1,009, sampled and weighted to match the India general population 18+ years
19
25
21
25
24
31
25
24
28
31
22
12
11
17
27
18
20
15
39
39
28
29
30
35
25
31
36
26
33
38
33
37
31
34
37
33
Alcohol
Personal-care products
Groceries
Tobacco products
Footwear
Food takeout and delivery
Quick-service restaurant
Restaurant
Accessories
Apparel
Jewelry
Toys and baby supplies
Household supplies
Skin care and makeup
Home and furniture
Sports and outdoors
Home improvement, garden
Kitchen and dining
Decrease Stay the same Increase
16
15
15
15
21
23
23
15
16
17
22
24
21
25
24
19
30
21
35
41
37
28
34
34
37
42
37
38
32
34
36
39
32
47
31
33
Consumer electronics
Out-of-home entertainment
Adventures and tours
Pet food and supplies
Vitamins and OTC medicine
Entertainment at home
Books/magazines/newspapers
Pet care services
Hotel/resort stays
Fitness and wellness
Personal-care services
Gasoline
Vehicles
Short-term home rentals
Travel by car
Cruises
International flights
Domestic flights
Net
intent2
22
13
13
11
14
27
21
21
10
15
13
8
28
2
25
11
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 2–3 months vs usual1
% of respondents
−18
+26
-6
+1
+1
+1
+2
-2
+11
-3
+3
-4
-3
+5
+3
+4
+10
-1
Change since
Oct 2021
Change since
Oct 2021
19 +4
-9
+2
+5
+8
+1
+2
-1
+7
+4
-2
+10
+5
+15
0
+22
+6
12 +11
Net
intent2
8
20
11
26
3
14
8
5
7
4
0
7
−5
22
20
16
17
19
Positive spend impact | Current as of March 2022

20.
McKinsey & Company 20
Vaccinated respondents plan to increase their discretionary
spending more than those unlikely to get vaccinated
​Source: McKinsey & Company COVID-19 India Consumer Pulse Survey, 3/11–3/24/2022, n = 1,009, sampled and weighted to match the India general population 18+ years
1. 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.
2. 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?
+2
percentage points
Likelihood of
vaccinated vs
unvaccinated people
to spend
For selected categories
Net intent1 for expected spending per category over the next 2-3 months vs usual2
Unlikely Cautious Interested Vaccinated
Groceries
Food takeout and delivery
Restaurant
Quick-service restaurant
Vitamins and supplements
Skin care and makeup
Personal-care services
Apparel
Consumer electronics
International flights
45
−13
−23
−34
26
−7
14
−20
−59
0
47
9
5
20
35
38
−13
−6
11
48
21
29
20
7
−3
42
30
−5
11
69
20
7
4
7
26
19
22
7
14
27
Between −3 and +3
< −3 > +3
Positive spend impact | Current as of March 2022

21.
McKinsey & Company 21
Among consumers who intend to spend more, roughly 30
percent say it is to get premium products, and about 25 percent
say it is because prices are higher
​Source: McKinsey & Company COVID-19 India Consumer Pulse Survey, 3/11–3/24/2022, n = 1,009, sampled and weighted to match the India general population 18+ years
20
16
17
13
25
11
12
17
12
16
15
14
14
25
15
9
12
15
25
27
38
30
24
32
31
38
24
24
25
28
21
25
25
25
26
24
20
31
26
32
23
29
35
22
39
30
34
32
39
28
32
29
37
34
35
26
20
25
27
28
22
23
25
29
27
26
26
21
28
37
25
27
Household supplies
Meals at restaurants
Groceries
Pet care services
Pet food and supplies
Food takeout/delivery
Vitamins and supplements
Meals at quick-serve rest
Vehicles
Personal-care products
Apparel
Footwear
Accessories
Consumer electronics
Home and decoration
Kitchen and dining
Skin care and makeup
Personal-care services
Increase in income
Increase in price
Larger quantity
Premium brands/products
1. Q: Please indicate the main reason for planning to spend more on the following categories.
Reasons for increase in spend1
% of respondents who increased spend
Positive spend impact | Current as of March 2022

22.
McKinsey & Company 22
Among consumers intending to spend less, roughly 35
percent are value seekers, and about 30 percent are
variety seekers
​Source: McKinsey & Company COVID-19 India Consumer Pulse Survey, 3/11–3/24/2022, n = 1,009, sampled and weighted to match the India general population 18+ years
26
22
15
16
8
15
15
20
8
20
16
9
17
14
18
19
16
14
45
35
39
33
39
27
30
32
38
38
32
28
34
43
36
36
26
32
18
27
23
27
36
42
39
25
29
23
26
34
28
19
20
22
32
23
6
12
21
22
12
12
16
16
20
17
21
25
18
22
20
18
23
27
6
3
1
2
5
4
7
5
2
5
4
3
2
5
5
3
4
1
Meals at restaurants
Household supplies
Groceries
Pet food and supplies
Food takeout/delivery
Meals at quick-serve rest
Personal-care products
Pet care services
Vitamins and supplements
Apparel
Footwear
Accessories
Consumer electronics
Vehicles
Home and decoration
Kitchen and dining
Skin care and makeup
Personal-care services
Decrease in income Switch to less expensive
Smaller quantity Spend more on other categories
Reduced price
1. Q: Please indicate the main reason for planning to spend less on the following categories.
Reasons for decrease in spend1
% of respondents who decreased spend
Positive spend impact | Current as of March 2022

23.
McKinsey & Company 23
41
33
36
24
28
22
20
June 2020
Mar 2022
Oct 2021
Feb 2021
Sep 2020
Nov 2020
May 2020
Overall
23
42
Vaccinated Unvaccinated
Gen Z Millennials
38
46
Gen X
39
Baby boomers3
46
41
High (>2M
rupees)
Low (<500,000
rupees)
57
37
Medium
(500,000–2M
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 people 45–54 years old, baby boomers are 55 years old and above.
3. Baby boomers includes silent generation.
By
generation2
By
vaccination
adoption
By income
~46%
of Gen X and baby
boomers are doing out-
of-home activities
~57%
of higher-income
households are doing
out-of-home activities
~42%
of people who are
vaccinated are doing
out-of-home activities
Consumers engaging in out-of-home activities,1 % of respondents
Source: McKinsey & Company COVID-19 India Consumer Pulse Survey, 3/11–3/24/2022, n = 1,009; 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 the India’s general
population 18+ years
Home economy is pervasive | Current as of March 2022
More Indian consumers say they are engaging in out-of-home
activities, led by higher-income households and older generations

24.
McKinsey & Company 24
Out-of-home activities currently engaged in1
% of respondents who say they are doing this in the same or a modified way
1. Q: Which best describes how you are engaging in each of these activities? ? Possible answers: “Not doing this 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.”
Social
Personal
care
Entertain-
ment 88
76
78
77
78
89
88
89
86
Attend an outdoor event
Dine indoors at a restaurant or bar
Go out for family entertainment
Attend an indoor cultural event
Visit a crowded outdoor public place
Go to a hair or nail salon
Go to the gym or fitness studio
Get together with family
Get together with friends
90
96
91
89
93
84
89
86
81
82
86
Travel more than 2 hours by car
Use public transportation
Work outside my home
Shop for groceries/necessities
Shop for non-necessities
Go to a shopping mall
Use a ride-sharing service
Travel by airplane
Travel by train
Stay in a hotel
Rent a short-term home
Work
Shopping
Transport/
travel
21
31
20
29
30
29
54
42
46
36
44
36
38
41
31
35
37
28
33
30
80% and above
Less than 80%
Change >10 pp
Change from
Oct 2021,
percentage points
Change from
Oct 2021,
percentage points
Consumers increased all out-of-home activities since October 2021,
with the biggest increase occurring in travel and entertainment
​Source: McKinsey & Company COVID-19 India Consumer Pulse Survey, 3/1–3/24/2022, n = 1,009; 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
Home economy is pervasive | Current as of March 2022

25.
McKinsey & Company 25
1. Q: With the rise of the omicron variant of COVID-19, how, if at all, has your out-of-home behavior changed?
​Source: McKinsey & Company COVID-19 India Consumer Pulse Survey, 3/11–3/24/2022, n = 1,009, sampled and weighted to match the India general population 18+ years
8
12 14 9
51 42
32
32
39
51
High
(>2M rupees)
4
Medium
(500,000–2M
rupees)
Low
(<500,000
rupees)
4
11
13
21
44
41
39
28
4
Vaccinated Unvaccinated
13
44
38
Engage less
5
Engage more
Overall
Engage with
adjusted behavior
Engage same as
before omicron
By income By vaccination status
More than half of
lower-income
consumers have
adjusted their
behavior when
going out, whereas
higher-income
consumers are
engaging less
Vaccinated consumers
are more cautious
than the unvaccinated
population
Key findings
Adjustments to out-of-home behavior due to prevalence of omicron variant,1 % of respondents
About 45 percent of consumers have changed the way they engage
in out-of-home activities because of the omicron variant
Home economy is pervasive | Current as of March 2022

26.
McKinsey & Company 26
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
Go out for family entertainment
75 25
27
79
​Dine indoors at a restaurant or bar
21
73
Attend an outdoor event
26
74
Visit a crowded outdoor public place
27
73
Attend an indoor cultural event
25
75
Go to a hair or nail salon
33
24
67
Get together with friends 27
Go to the gym or fitness studio
73
76
Get together with family
79
24
78
73
Work outside my home
24
22
76
Go to a shopping mall
Shop for groceries/necessities
Shop for non-necessities
76
21
Stay in a hotel
76
24
27
25
Travel by train
Rent a short-term home 78
25
75
Travel more than 2 hours by car
22
24
78
​Use a ride-sharing service
75
Use public transportation
Travel by airplane
22
76
Doing less, doing in a modified way
Doing as much as and in the same way as pre-COVID-19
Out-of-home activities engagement,1
% of respondents having engaged in activity pre-COVID-19
Around 70 percent of consumers have modified their behavior
when out of home across all categories
​Source: McKinsey & Company COVID-19 India Consumer Pulse Survey, 3/11–3/24/2022, n = 1,009, sampled and weighted to match the India general population 18+ years
Home economy is pervasive | Current as of March 2022

27.
McKinsey & Company 27
Main life events done in the last 12 months as a result of COVID-19,1 % of respondents Change >3 pp
64
22
20
35
26
20
18
10
10
12
12
Moved into a bigger home
Decided to change jobs
Renovated/remodeled my home
Worked more from home
Started homeschooling children
Set up a specific work-from-home space
Set up a gym at home
Got a new pet at home (eg, dog, cat)
Moved into a smaller home
Bought a property
Sold a property
Work/study
change
Mar 2022
Pet adoption
House move
Home
renovation
Investments/
divestments
Total,2
%
Change from
Oct 2021,
percentage points
−2
1
−1
2
1
0
3
0
2
1
1
18
78
20
57
21
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,
they continue to invest in their home environment
​Source: McKinsey & Company COVID-19 India Consumer Pulse Survey, 3/11–3/24/2022, n = 1,009, sampled and weighted to match the India general population 18+ years
Home economy is pervasive | Current as of March 2022

28.
McKinsey & Company 28
Milestones for the India population not yet engaging with out-of-home activities1
% of respondents awaiting each milestone before engaging
25
30
24
22
Government
lifts restrictions
Government lifts
restrictions and
other requirements
Vaccination
coverage
COVID-19 no
longer spreading
59%
of people are not
currently engaging
in ‘normal’ out-of-
home activities
​Source: McKinsey & Company COVID-19 India Consumer Pulse Survey, 3/11–3/24/2022, n = 1,009, sampled and weighted to match the India general population 18+ years
Vaccination coverage
Government lifts restrictions and …
1. Q: Which best describes when you will regularly return to stores, restaurants, and other out-of-home activities? Chart rebased to exclude those already
participating in these activities and those who do not deem any of these items important. Figures may not sum to 100% because of rounding.
9%
Medical authorities deem safe
12%
Stores, restaurants, and other
indoor places start taking safety
measures
8%
I see other people returning
8%
Vaccine is widely distributed
9%
I have been vaccinated
7%
Family member(s) vaccinated
Around 60 percent of consumers are cautious about returning to
out-of-home activities until social restrictions are completely lifted
Home economy is pervasive | Current as of March 2022

29.
McKinsey & Company 29
97
64
60
59
53
45
41
Different brand
Any new shopping behavior
Different retailer/store/website
Private label/store brand
New social-commerce method
New shopping method3
New digital shopping method
​Source: McKinsey & Company COVID-19 India Consumer Pulse Survey, 3/11–3/24/2022, n = 1,009; 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
91 N/A
85 8
81 8
81 9
High
(>2M rupees)
Gen Z Millennials
98
99 98
60
87 11 67 63
61
60 58
61
67 62
62
55 57
53
41 41
Income cut
Generational cut
All consumers
% of
respondents
Change from
Oct 2021,
percentage points
Intent to continue behavior2
Between −3 and +3
< −3 > +3
1. Q: Over the past 3 months, which of the following have you done? 3% replied “None of these”
2. Q: Which best describes whether or not you plan to continue with these shopping changes? Possible answers: “will go back to what I did before 3 months ago”; ”will keep doing both this and what I did before 3 months ago”; ”will keep doing
this and NOT go back to what I did before 3 months ago.” Intent to continue includes respondents who selected “will keep doing both this and what I did before 3 months ago” and “will keep doing this and NOT go back to what I did before 3
months ago.”
3. “New shopping method” includes curbside pickup and delivery apps.
Behaviors since COVID-19 pandemic started1
% of respondents
Consumers have tried new shopping behaviors, including new
retailers and brands, during the COVID-19 pandemic
Difference from all respondents,
percentage points
86 10
47
56 44
Loyalty shakeup continues | Current as of March 2022

30.
McKinsey & Company 30
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, 3/11–3/24/2022, n = 1,009, sampled and weighted to match the India general population 18+ years
23
77
Mar 2022
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
29
25
23
18
5
Bought the product
at a different retailer
Bought a different brand or similar
product at a different retailer
Waited until the product was
available at the same retailer
Did not buy anything
Bought a different product
at the same retailer
All consumers who could not make a planned
purchase2
% of respondents
Loyalty shakeup continues | Current as of March 2022
When products are out of stock, consumers are
more likely to substitute retailers or brands than to
wait for products to become available

31.
McKinsey & Company 31
Is available where I’m shopping
Using eco-friendly ingredients
Supporting local businesses
Is natural/organic
Better shipping/delivery cost
Better prices/promotions
11
Better value
Using recyclable packing materials
Larger package sizes
12
Shares my values
7
The company treats its employees well
24
Products are in stock
Better quality
11
32
Wanted to try a new brand I found
Wanted to try a type of product I’ve never tried before
Wanted variety/a change from my normal routine
Wanted to treat myself
Cleaner/has better hygiene measures 11
27
13
21
20
10
15
7
18
23
15
11
−1 7
0
Reason for trying a new brand since COVID-19 began,1 % of respondents selecting reason in top 3
​Source: McKinsey & Company COVID-19 India Consumer Pulse Survey, 3/1–3/24/2022, n = 1,009, sampled and weighted to match the India general population 18+ years
Personal choice
Convenience
Quality/organic
Novelty
Health/hygiene
Availability
Purpose driven
Value
51
57
11
44
35
13
11
26
All consumers
Between −3 and +3
< −3 > +3
Difference from all respondents,
percentage points
x Net % of respondents per category
Gen Z/
millennials Baby boomers2
Gen X
−3 36
−3
1 −9
0
−1 8
1
3 −12
−3
0 0
−1
−1 1
1
1 −10
−1
2 −7
−2
0 3
−2
−4 10
7
−3 6
5
−2 11
1
0 −3
1
2 −6
−4
0 −9
1
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.
Loyalty shakeup continues | Current as of March 2022
The top reasons consumers give for switching brands are to attain
greater value and better quality
−9
2
0
2 −8
−4