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?
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