Download the report here
PwC's inaugural Voice of the Consumer Survey 2024 builds on insights amassed over 15 years of consumer research based on the perspectives of over 20,000 consumers across 31 countries and 1000 consumers in India on a wide range of issues. We have covered all significant age profiles and segments that reflect the urban India consuming class.
The main theme of the survey is the need for brands to stay authentic to earn consumer trust and ultimately build loyalty.
There are three main drivers of building trust.
- How well do brands make life easier for their consumers
- How well do they connect with their consumers
- How do they ensure inclusiveness with their consumers
The survey comprehensively unpacks the trust build and ways in which brands can surely move to enhance their authenticity and loyalty by looking at all the three building blocks and their underlying six dimensions.
Q. Thinking about your spending over the next six months, please choose, to the best of your ability, your expectations on spending in the following categories.
Key findings
Increased spending
Indian consumers are notably optimistic, with 75% indicating plans to increase spending on key categories like clothing, footwear, groceries.
Omni-channel experience
Physical stores remain crucial, with 56% of consumers relying on them for brand discoverability, consideration, and purchase. Online channels are also significant, with 47% using social media.
Data protection and personalisation
Nearly 80% of consumers prioritise data protection, while 65% appreciate personalised experiences using their data. Brands must balance these aspects to build trust.
Six imperatives to build consumer trust
Personal data
Safeguard personal data, while continuing to use it to offer personalised services and elevated customer experiences.
Health and well-being
Create and promote a product portfolio that reflects consumers’ desires for wellness, nutrition and more sustainable food production.
Social media
Strike a balance with social media use, recognising its significance as a platform for sales and engagement, while being mindful of consumer concerns about its credibility.
Purchase journey and value
Focus on the purchase journey to meet consumer expectations of value, ensuring a seamless, fulfilling experience for consumers at every touchpoint
Climate
Forge bonds with eco - conscious consumers by connecting their intentions to positive environmental impacts.
Artificial intelligence (AI)
Incorporate and experiment with AI tools in business operations while maintaining a human element, especially in more complex and personal services.
Q. How important or unimportant are each of the following areas to building your trust in a company?
Q. Considering the recent advancements in AI technology, which of the following activities would you trust AI to do accurately in place of a human interaction?
About the survey
The Voice of the Consumer Survey 2024 by PwC delves into the evolving dynamics of consumer trust. With insights gathered from over 20,000 global consumers, including a focused sample of 1,000 in India, the survey highlights the paramount importance of trust in the modern consumer landscape. It examines key areas such as data transparency, health and wellness, social media engagement, the purchase journey, environmental sustainability, and the adoption of AI.
Contact us
Ravi Kapoor
Partner and Retail and Consumer Goods Leader, PwC India
PwC’s Voice of Consumer Survey 2024: Shrinking the consumer trust deficit
Six key imperatives to build consumer trust
Read more
Follow PwC India
