India Leads In Consumer Confidence: Nielsen

However, he added: "Volatility still exists in consumer sentiment owing to deficit monsoons, and uncertainty in certain pockets when it comes to consumption."

Nearly two third online respondents indicated this is a good time to buy things they want and need, once again leading the global top 10 countries for this parameter in the quarter.

"These optimism levels are six percentage points higher than the same period last year (59 per cent in Q3 2014)," it added.

Moreover, there is an uptick in intent on utilisation of spare cash, as 70 per cent of online respondents have indicated they will invest in savings this quarter, followed by new technology and holidays and vacations with 56 per cent respectively and 50 per cent on new clothes.

"Nearly two in five respondents (37 per cent) are looking to invest in retirement funds this quarter," it said adding that discretionary spending has seen a fillip from the same quarter last year.

"In Q3 2014 - 61 per cent indicated they will invest spare cash in savings, 44 per cent in new technology projects, 43 per cent on new clothes, and 42 per cent on holidays and vacations," it added.

Over 4/5th of respondents (83 per cent) have changed their spending habits to save on expenses, continuing a trend of caution when it comes to spending habits.

Compared to last year, the avenues of saving cited are primarily gas and electricity (54 per cent), spending less on new clothes (48 per cent), and cutting down on telephone expenses (37 per cent) by respondents polled online.

"Over two in ten (23 per cent) respondents indicated they will cut down on smoking to control spending habits, even when conditions improve," the report added.

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