CNBC-TV18 Launches world's largest Consumer Confidence Index
CNBC-TV18 along with the most renowned worldwide firms in research, Boston Analytics has announced that they will introduce the CNBC-TV18 Boston Analytics Consumer Confidence Index, that is conceived with an objective of providing, policy makers, corporates, market participants, researchers, industry leaders and trend watchers, an in depth insight into the minds of the Indian consumers.
The Customer Confidence Index (CCI) is defined as the degree of optimism on the state of the economy that consumers are expressing through their activities of savings and spending. The world’s first CCI was introduced in the USA in 1985, and has a sample of 5000 people. It is a crucial tool that enables the user to understand the consumer’s mindset and thus make an informed assessment about the future course of the economy. The CNBC-TV18 Boston Analytics Consumer Confidence Index is carefully designed to reflect the aspects of the Indian economy like employment, inflation, savings, spending and real estate through the eyes of the Indian consumer.
The CNBC-TV18 Boston Analytics Consumer Confidence Index will be released every month and shall be based on a sample size of 10,000 respondents spanning 15 cities in India, thus making it the largest Consumer Confidence Index in the world. The index will be based on the level of consumer confidence over time on various parameters like Current Situation, Future Expectations, Inflation, Employment, Consumer Spending, Savings and Real Estate.
Speaking on the series, Neel Chowdhury- Vice President, Marketing, CNBC-TV18 and CNBC AWAAZ said, “The CNBC-TV18 Boston Analytics Consumer Confidence Index is a testament to the unparalleled leadership of both the brands, and will be the largest in the world. The CCI will not only add a totally new dimension to our programming mix, but more importantly it will provide India Inc. with a tool to gauge consumer sentiment, a subject that holds the key to their fortunes.”
Rashid Bilimoria, CEO, Boston Analytics commented "We, at Boston Analytics, are very excited to collaborate with CNB- TV18 in releasing India's first monthly consumer confidence index. Any market driven economy is vastly influenced by consumer spending. For instance, in India, consumer spending accounts for over 60% of the GDP. This definitely explains the need to track consumer confidence in this country.”
As a lead up to the launch of the Consumer Confidence Index, CNBC-TV18 will present two introductory episodes (1st at 10:30 PM on 22nd February and 2nd at 10:00 PM on 28th February) and the first findings of the Index will be presented on CNBC-TV18 on 3rd of March, 2009.