Indian consumers turn cautious: economic optimism slips to 48%, gold and savings trump discretionary spend
Kantar survey shows economic optimism for 2026 falling to 48% from 60%, with 41% fearing layoffs and 61% expecting savings to stay flat or decline. 52% plan to buy gold in the next 12 months as households pull back on dining, entertainment and shopping. Travel and experiences remain resilient pockets.
What happened
Kantar survey finds Indian consumers turning cautious amid geopolitical uncertainty, prioritising savings and gold (52% likely to buy) while pulling back on
Key facts
- 48% expect economy to improve in 2026 (down from 60%)
- 41% concerned about layoffs (up from 36%)
- 61% expect savings flat/decline
- 33% report savings decline
- 52% likely to buy gold in next 12 months
Why this matters
Pressure-test discretionary acquisition pipelines on demand assumptions and screen for tuck-ins in jewelry retail, savings/gold-linked fintech, and travel platforms where the cautious-consumer shift creates durable tailwinds.