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Wednesday, October 21, 2020

Higher income group tops in panic buying

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The Indian Telegraphhttps://theindiantelegraph.com.au/
Established in 2007, The Indian Telegraph is a multi award winning digital media company based in Australia.

India’s higher income group purchased groceries and supplies more than their normal needs during the lockdown imposed to fight the coronavirus pandemic, according to the latest IANS-CVoter Economy Battery survey.

As per the survey, 27 per cent of the higher income group bought certain groceries and supplies more amid the lockdown than they normally used to purchase. Among this group, 58.5 per cent purchased normal supplies, while 3.4 per cent bought less than what they used to buy.

The survey showed how people resorted to panic buying despite the government’s assurance that there won’t be any shortage in the supply of essential goods.

The middle income group followed the higher income group in panic buying with 24.4 per cent purchasing these items more than their consumption levels. A total of 47.2 per cent of the people bought normal items, while 27 per cent purchased less.

As per the survey, the purchasing capacity of the lower income group, however, decreased drastically as 42 per cent bought less grocery than their normal routine. An estimated 37.5 per cent of people in this group bought these items in a normal way, while 16.8 per cent bought more than they did otherwise.

Surprisingly, 26.5 per cent of people in the higher education group purchased goods more than their normal requirement, followed by 20.3 per cent in the lower education group and 19.4 per cent in the middle education group.

At least 23.7 per cent of people residing in semi-urban areas bought more, while the figure was 20 per cent in the urban areas and 17.8 per cent in the rural areas.

Eastern, southern and western parts of India bought more than normal groceries and supplies at 23.8 per cent, 22.6 per cent and 22.5 per cent, respectively, while 14.9 per cent showed similar trend in the northern part of the country.

Going by ethnic groups, 50.9 per cent Christians purchased goods more than they normally did, followed by 34 per cent Scheduled Tribes (ST), 22.5 per cent upper caste Hindus, 21.4 per cent Muslims, 19.2 per cent Scheduled Caste (SC), 14 per cent Other Backward Classes (OBC), 9.2 per cent Sikhs and 48.3 per cent others.

Age group wise, 26 per cent aged below 25 year years purchased more, followed by 22.2 per cent aged between 25 and 45 years and 19 per cent aged between 45 and 60 years.

As per the survey, only 11.4 per cent people aged 60 years and above bought more groceries.

Gender wise, 23 per cent females purchased more as compared to 18.9 per cent males.

SourceIANS

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