Kantar: Indian shoppers cut big-ticket buys but protect travel, gold and experiences in May 2026
Kantar's May 2026 State of the Nation survey shows economic optimism slipping to 48% from 60% in January, with 41% fearing layoffs and 44% trimming big-ticket spend. Yet 53% plan to lift discretionary outlays, 52% will buy gold, 60% plan domestic and 52% international holidays — signalling selective, value-led demand.
What happened
Kantar's May 2026 State of the Nation survey shows Indian consumers turning cautious on discretionary and big-ticket spending amid job and inflation worries,
Key facts
- 48% expect economy to improve (vs 60% in Jan)
- 41% worried about layoffs
- 53% plan to increase discretionary spend
- 44% cutting big-ticket spend
- 52% likely to buy gold
- 60% plan domestic holiday
- 52% plan international travel
Why this matters
Scout bolt-on targets in domestic travel, premium experiences, and branded gold where 52–60% purchase intent persists, while monitoring distressed big-ticket retailers as potential consolidation entries.