According to a PwC Global Consumer Insights Pulse Survey, 65 per cent of Indian consumers plan to increase their online shopping in the next 6 months, with the majority expecting no change to their shopping channel behaviour. Among Indian consumers, PwC report said, 65 per cent have purchased directly from a brand’s website, with 3 in 10 open to considering buying directly. In terms of categories, food and beverage and clothing and accessories are the most popular for purchase or consideration.
Consumers have also started turning to the internet to research products before buying them and businesses are now looking at managing the pre-purchase consumer experience by investing in search engine optimization. According to the survey, around 5 in 10 consumers consistently use their smartphone in-store for price comparison or to view live product reviews via social media before they buy. “Search engine optimization remains key to target and influence pre-purchasing behaviour. The influence of traditional TV ads and sponsored social media ads has increased, leading to a greater impact on pre-purchase choice,” PwC said.
“By strategically investing in potent search engine optimization techniques, retailers can ensure heightened product visibility and organically boost traffic. Simultaneously, market leaders must cement their virtual foothold, nimbly adapting to the constantly evolving expectations of the modern consumer,” said Ravi Kapoor, Partner and Leader – Retail & Consumer, PwC India.
Furthermore, it said that 1 in 3 consumers in India purchase via subscription models and a further quarter said that they will be willing to try these models in the next 6 months. In terms of age group, millennials and Gen Z are significantly more likely to be planning to sign up, and the top categories for them will be health and well-being products, clothing/fashion, and groceries.
In regards to payment options, the survey suggested that Indian consumers are seeking a variety of payment options, faster and responsive touch screen technology, and more readily available staff for checkout queries/issues.
While these trends rule the shopping behaviour of consumers in India, the survey also stated that 4 in 10 consumers would be willing to pay up to 10 per cent more than the average price for products which are produced sustainably/ethically, with 19 per cent of Indian consumers open to paying up to 20 per cent more to companies with a reputation for ethical practices. “Consumers are displaying a laudable appetite for conscientious choices, readily embracing the prospect of investing extra for the values that resonate with them,” said Ravi Kapoor.