New Delhi: Cost of living crunch is reshaping consumer behaviour, is primary insight provided by PwC in its latest report on how consumers are viewing food choices.

According to the report,‘PwC’s Voice of the Consumer 2025: India perspective’, almost 40% the respondents confessed that they were struggling to make ends meet. Another “32% of consumers said they were ‘financially coping’, while 7% mentioned that they were financially insecure and struggling to pay bills.” 

Cost of living (e.g. cost of everyday items, bills) as a concern is among the top three concerns of 57% of those surveyed, when asked about the threats/risks consumers believe could have the greatest impact on their country in the next 12 months.

Last year, it was the impact of climate change on food that worried consumers more. Cost of living is now emerging as a serious issue with consumers.

Consumers are consequently adopting “money-saving behaviour”, moving to change food habits, stores they purchase form and foods they choose as a result of the steep prices. 

The global survey took place in January and February 2025, consisting of 21,075 consumers across 28 countries and territories, including 1,031 respondents from India. The respondents were asked about “consumer food consumption and trends, including grocery shopping and food choices, the future of health, emerging technology, and climate and sustainability issues.” Industry executives were also surveyed in May 2025.

“There is a fair bit of a cost-of-living crunch in the sense that household savings as a percentage are lesser today than they were four years back, whereas the liabilities have actually gone up,” Hitanshu Gandhi, retail & consumer markets lead (director), PwC India, told the Indian Express. Citing the National Payments Corporation of India (NPCI)’s merchant category-wise break-up of Unified Payments Interface (UPI) transactions, Gandhi said that high debt repayment reflected “fairly heavy stress on households”.

Rs 3.5 lakh crore (approximately 13%) of total UPI payments in the first four months of the financial year 2025-26 were towards ‘debt collection agencies’.

Indian consumers have also cited concerns over safety over food as the top most concern, with 84% saying they are either extremely or very concerned over this.

The report also provides other insights on consumer preferences for nutrition, worries about climate change and food safety. 

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