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While Indians are facing budget constraints due to inflation and other economic setbacks, these shaky tightropes haven’t been able to deter their snack consumption.

Instead, snacking remains a source of comfort in turbulent times.

🥨Today’s global economic structure has affected food choices, with nearly 90% of consumers worried about rising prices.

🥨Moreover, 8 out of 10 Indians have become more budget-conscious than they were in 2021.

Consumers reveal that the costs of food items needed to prepare meals are putting a bigger hole in their pockets than snacks.

🥨67% of Indians are shelling out more money on groceries than a year ago, with millennials leading the pack (79%).

🥨Yet, snacks items always fit in the grocery budgets of 86% of people.

Besides, consumers aren’t just chowing down snacks to sustain their day between meals but also to boost their physical, mental, and emotional health.

🥨Case in point, snacking offers an opportunity to connect with others, with 88% of Indians snacking together at least once every week.  

🥨Likewise, 81% of Indians enjoy moments of peace during their day while snacking.

🥨Among snacks, 83% of consumers find chocolate soothing to their souls.

Overall, snacks remain a routine shopping basket item in the Asia country, even though people are feeling the crunch of the present economy.

🥨In fact, 76% of the native population snack at least twice a day.

Amid these trying times, Indian consumers see their favorite snacks items as affordable and necessary indulgences.

Systemic Investment Plans (SIP) in India have hit a record high!

The monthly flow in mutual funds (MF) via the SIP route clocked ₹15,244.73 cr in July 2023, crossing the 15,000-cr mark for the first time. That’s pretty much more than June (₹14,734 cr) and May (₹14,749 cr) numbers.

In recent years, India’s MF industry has gained considerable momentum for good reasons. Easy-to-understand schemes, small investment amounts, and straightforward investment via numerous mediums – banks, agents, and online (websites and apps).

No doubt, the rise in retail investors’ interest in MFs has materialized into incredible inflows across scheme categories.

Additionally, July 2023 saw 33 lakh new SIP accounts registered, taking the cumulative number to 6.8 crore, again an all-time high.

What grabs equal attention is that monthly SIP contributions have stayed above ₹13,000 cr since October 2022.

Despite these phenomenal numbers, inflows into equity MFs slipped to ₹7,626 cr in July 2023 from ₹8,637 cr in the preceding month. That’s an 11.7% month-on-month (M-o-M) decline.

This drop in net inflow is primarily due to profit-booking from some investors, especially in large-cap funds, as Indian bourses trade near record-high levels. The fund category saw net withdrawals of ₹1,880 cr.

Nevertheless, net inflows into mid and small-cap funds remained strong, with the latter at ₹4,171 cr.

Investors are increasingly realizing that MFs offer multiple options – from debt to high-risk equity – suiting their risk appetites and financial goals. What’s more, they can contribute to India’s growth story by investing as little as ₹500/month.

17 open-ended MF schemes were launched in the month under review, raising ₹6,723 cr.

All these inflows pushed SIP Assets under management (AUM) to ₹8.32 Tn in July 2023 against ₹7.93 Tn in the previous month.

MF houses and financial institutions are also walking extra miles to educate investors about the benefits of SIPs, underscoring the power of compounding to achieve financial goals over the long term.