As India gears up for the festive season, consumers will shop more online: 66 per cent of consumers will shop more compared to last year, and another 22 per cent will spend nearly the same on festive shopping, per a Festive Sentiment Tracker survey by Disney+ Hotstar. Further, 87 per cent of consumers said that the spending capacity has either improved or remained the same compared to last year, which indicates a high propensity to spend in the upcoming festive season. This is when the Ministry of Statistics and Programme Implementation (MOSPI) had said that the consumer spending in India decreased to Rs 22079.81 billion in the second quarter of 2022 from Rs 22624.05 billion in the first quarter of 2022.
While 87 per cent of the consumers will shop for themselves, 55 per cent will shop for gifting purposes and this is higher among consumers who are 30 years or above in age (60 per cent). “After 2 years of subdued celebrations, consumers are looking forward to celebrating this festive season with renewed fervor, which presents a great opportunity for brands to connect with their audiences to build awareness and purchase intent,” the company said in the survey.
What will drive festive shopping?
In terms of categories, the survey noted that apparel and fashion, mobile phones, beauty and wellness will be the top three segments that will drive growth, and consumers will make purchases from two categories on an average.
In terms of advertising mediums that will drive consumers, online advertisements will drive 55 per cent of consumers, followed by TV ads which will drive 33 per cent shoppers. Consumers, this festive season, will buy mostly from online portals, with 68 per cent doing their cart checkouts online itself, followed by 39 per cent who will do it at the malls and 15 per cent at standalone stores. In terms of payments, online payment will remain the preferred medium followed by card payments.