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Key Points

Revised GST rates are expected to make everyday expenses more manageable for Indian consumers. A PwC survey reveals that 63% of consumers are concerned about rising food prices. Many households are adopting money-saving behaviors like bulk buying and shopping at discount stores. The report suggests brands should enhance loyalty programs to retain customers in this volatile pricing landscape.

Key Points: PwC Report Says Revised GST Rates Ease Household Budget Pressure

  • 63% of consumers expressed concern over rising food prices
  • 44% of respondents are buying in bulk to counteract inflation
  • Nearly half are changing shopping habits for discount outlets
  • 74% stated food choices are rooted in cultural heritage
2 min read

Revised GST rates to ease pressure on household budgets: PwC

PwC survey finds revised GST rates offer relief to household budgets as 63% of consumers worry about food prices and change shopping habits to counter inflation.

"With the revised GST rates, household budgets are likely to become more manageable - PwC"

New Delhi, September 14

Household budgets across India are likely to see some relief following the recent revision in Goods and Services Tax (GST) rates, according to a report by PwC.

The advisory firm noted that the rate adjustments are expected to make everyday expenses more manageable for consumers, offering a potential boost to overall consumption sentiment.

"With the revised GST rates, household budgets are likely to become more manageable," PwC said in a survey report.

The report added that about 63 per cent of consumers expressed concern over rising food prices.

Additionally, 44 per cent of respondents are buying in bulk, while an equal number have turned to growing their own food to counteract inflation.

The report added that nearly half of those worried about food costs are changing their shopping habits, opting for different stores, discount outlets, and promotional deals to stretch their budgets.

The survey found that 74 per cent of consumers in the report stated that their food choices were deeply rooted in cultural heritage and longstanding traditions. This suggests that companies that provide functional heritage foods (e.g. aam panna and jeera-flavoured drinks) which appeal to culture, tradition and nostalgia will have an edge.

The firms added that in its survey about 32 per cent of consumers said they were 'financially coping', while 7 per cent mentioned that they were financially insecure and struggling to pay bills.

"The GST relief is significant for families that previously faced fluctuations in vegetable prices and food inflation," the report added.

It further added that consumers are adopting money-saving behaviours such as shopping at different stores, switching to products with discounts or using coupons and promotions.

"Brands need to respond by institutionalising regular promotional cycles and enhancing loyalty programmes. These mechanisms not only support shortterm conversion but also foster long-term consumer retention in a volatile pricing landscape," the report added.

- ANI

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Reader Comments

R
Rohit P
I've started growing my own tomatoes and greens on my balcony. The inflation was just too much to handle. GST relief is welcome but we need more permanent solutions.
A
Ananya R
Completely agree about traditional foods! I always choose aam panna over expensive packaged drinks. It's healthier, cheaper, and connects us to our roots 🌿
M
Michael C
As an expat living in Delhi, I've noticed how price-sensitive the market is here. Smart move by the government to provide some relief. Hope it actually reaches the common man.
S
Siddharth J
While GST reduction is good, I'm skeptical about whether retailers will pass on the benefits. We need better monitoring mechanisms to ensure consumers actually benefit.
Kavya N
My family has switched to buying in bulk from wholesale markets and we plan meals around seasonal vegetables. Every rupee saved counts these days! 💪
J
Jessica F
The statistic about 74% preferring traditional foods is so true! Indian households value authenticity over fancy packaging. Hope brands understand this cultural connection.

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