Mastercard Index of Consumer Confidence paints bright picture for India
Indian consumers are looking forward to more spending and a better quality of life in 2018 – at least, that’s the message from global payment provider Mastercard. According to the Index, released last Thursday: “consumer confidence in India remains high with consumers indicating a very optimistic outlook over the next six months.” Other Asia Pacific countries that are looking forward to the New Year include Bangladesh and Vietnam.
Mastercard’s share price appreciated by 39% last year
SOURCE: Yahoo Finance
Over the last six months, Indian consumers’ confidence has remained at a favourable 84.6 points, with “very optimistic” ratings in four out of five sections: employment, the economy, regular income, and the stock market. The fifth, “outlook towards quality of life” is also highly rated, showing “stable growth” from the previous Index’s findings, according to the company.
One of the most interesting findings from the Index was a disparity between the generations in outlook for the coming year. In a press release, Mastercard said that: "The Index indicates that Asia Pacific millennials (aged 18–29 years) are very confident about the next six months (72.9 points), while the older generation (aged 30 and above) are tempered in their outlook towards the future (66.7 points)."
Despite this divergence, it is notable that both under- and over-30s saw sentiment increase in the region from the latter half of 2016. Over-30s saw a 6.3-point rise, and under-30s saw a 5-point rise. The company said: "These lifts are reflected across buoyant consumer sentiment towards the stock market, employment and economic performance."
Dominion holds Mastercard in its Global Trends Ecommerce Fund.
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