As per the report, product availability and competitive pricing have become more important than brand name during the pandemic
Digital becomes the new normal for the consumer as work from home/ online classes become an accepted way of living.
72% urban Indians have been economically impacted by covid-19, as per Kantar’s latest report. Titled, ‘The New Indian Consumer Report’ the study highlights key consumer trends of the year. As per the report, digital becomes the new normal for the consumer as work from home/ online classes become an accepted way of living. Meanwhile, online shopping gets redefined as consumers flock to ecommerce sites for safety reasons. “The pandemic has established e-commerce platforms as one of the channels that the consumer shops from not because of discounts but because of convenience and heightened hygienic safety,” Hemant Mehta, managing director, insights division and chief strategy officer, South Asia, Kantar, told BrandWagon Online.
Further, product availability and competitive pricing have become more important than brand name during the pandemic, the report states. Similarly, media behavior has also seen a shift. Due to consumers staying at home now, there is a greater availability of viewing time, registering an all time high on day time and late-night viewership up like never before. Further, digital media/ OTT have also recorded higher engagement during this year.
According to the report, the general sentiment is largely around fear and uncertainty about what the future holds. 52% consumers state that they are financially worse off than they have been in the last year. Sustained out of home activities/ entertainment may resume only post a year from now as returning to the ‘old’ normal turns out to be more difficult than expected.
The report covers a robust sample of 10,000 urban consumers ranging between 15-55 age groups; across 15 Indian states. It captures critical aspects like consumer mindsets (attitude & fears), category consumption, entertainment, shopping, online behaviour and social media consumption, health and fitness and sentiments on returning to the ‘normal life”.