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How can we revive consumer confidence?

As the global economy slows, people's purchasing power is taking a hit. How significant are India's current consumer trends, and what can be done to revive consumer confidence?

As the global economy slows down, people's purchasing power is taking a hit. The International Monetary Fund has forecast that the global economy will grow at just 3% this year - the slowest since the recession of 2008-09. India's central bank too says that consumer confidence has dipped to a six-year low in the country.

According to experts, consumer confidence is like an oil tanker - once moved, it can take a very long time to turn around.

So, how significant are the current consumer trends? And what can be done to revive consumer confidence?

#WorklifeIndia discusses the best ways to create fresh demand and asks what some of the innovative measures are to reform the market and to boost consumer confidence.

Presenter: Devina Gupta
Contributors: Dr Reetika Khera, associate professor of economics, Indian Institute of Management; Hindol Sengupta, author and journalist; Preeti Reddy, CEO, South Asia, Kantar Insights

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25 minutes

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Women selecting saris in a shop (Credit: Yamini Chao/Getty Images)

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