Big brands and business leaders are flagging concerns about how rising food prices, higher interest rates, and even job losses from AI are squeezing people's wallets.
Food inflation hit 7.74% in September, thanks to poor monsoon rains, while the Reserve Bank of India just raised borrowing costs, making it harder for many to spend on nonessentials.
Shoppers Stop, Devyani International adjust offerings
With budgets getting tighter, companies like Shoppers Stop are pushing premium products, while others like Devyani International are offering more value meals to attract cautious buyers.
Demand for things like gadgets and appliances has not slowed down, especially in smaller towns.
Meanwhile, both brands and shoppers are having to rethink their choices right now.