Around 1 in 2 Indian consumers are willing to spend on leisure and health protections despite financial turmoil

The trend is mostly driven by consumers from Gen Z urban groups and workers.

Around 50% of Indian consumers are eager to spend their finances in moments of immediate gratification, whilst 40% of urban consumers are aware of the importance of preventive healthcare solutions, according to a report by Mintel.

Young males show a greater preference for leisure and indulgence, with 68% being Gen Z urban males. Respondents aged over 45 have expressed their interest in health and wellness products, with 49% of females from Tier 3 cities spending on beauty and personal care products.

The idea of immediate gratification can vary in age and city tiers in India. However, there is a significant shift in spending habits for the younger demographics, with 60% of Gen Z buyers cutting back on clothing and accessories more than on eating out (52%) and buying beauty products (50%). This is caused by the fast fashion industry being challenged over sustainability and cost-saving concerns.

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However, the most significant shift comes from consumers giving importance to preventive healthcare. Around 43% of older males and fathers in 2023 have allocated a portion of their expenses to health and wellness products, and more than the 26% in 2022. About 46% of older females and mothers in 2023 have well-placed investments in health wellness, compared to 26% in 2022.

The trend also extends to working individuals (48%) and non-working mothers (46%). This is prevalently felt across city tiers, specifically among 42% of urban consumers and 45% of Tier 3 consumers.