According to market research firm Nielsen, 46% of Indian consumers prefer larger packs for consumer products compared to those who think that purchasing smaller packs with lower unit price would help them save during inflationary times.
The study reveals that Indians are actively seeking out deals and switching stores to avail deals for better value in order to economist to tide over high inflation.
Roosevelt DSouza, executive director, Nielsen India, says: Indian consumers have always been value conscious and the inflationary environment has increased this tendency. At Nielsen, we see more people actively seeking out deals, or even switching stores to avail of deals or get better value.
Using coupons to aid in saving has gained favour with 34% of Indians. Asia Pacific (55%), China (67%), Hong Kong (68%) and the United States (66%) are the leading markets for coupons. In contrast, Singapore (72%), Malaysia (78%), Australia (72%) made heavy purchases during the seasonal sales to save on household expenses.
Nielsens 2011 Global Online Shopping and Saving Strategies Survey of more than 25,000 Internet respondents in 51 countries shows that 46% of Indias online consumers prefer to purchase larger value packs to save on household expenses.
The study reveals: The emerging modern format encourages this practice and the primary factor for choosing the modern trade format as a shopping destination is to look for options that offer better value."
The primary reason for an Indian shopper to patronise a particular retailer is highly dependent on the value for money he or she perceives that the store offers. This factor influences almost three out five shoppers in their choice of store.
Furthermore, 56% of shoppers rate the convenient location of the store as being the most influential factor in their choice of retailer.
A similar proportion (55%) sees the availability of the items they want as influencing their choice.
Respondents say they stock up on groceries and other consumer packaged goods as a way to save money. However, stocking up as a primary reason for making a trip to the store is not widespread across the globe.
In India, only a quarter make a trip to the grocery store to stock up on goods and staples; more shoppers (30%) make a trip to the store to pick up a few essential items.
Overall, stocking up for groceries is less common in Asia Pacific, Latin America and Middle East where approximately one in five online consumers surveyed say that is the primary reason for visiting the store.
Considering new and flexible retail formats for grocery shopping, there are distinct consumer preferences for online delivery options.
In India, 31% of respondents indicate they are highly likely to exercise the option of ordering groceries online and getting them delivered if this were available to them. While over a fifth (22%) prefer the option of ordering online and picking up their groceries from inside the store, the concept of ordering online and picking up from a drive-thru or from outside the store is less preferred.