To get to know the audience’s usage and mentality, a dedicated survey comes very handily to estimate the thought process.
Retailers Association of India ( RAI ) conducted a survey based on a festival season to understand consumer behavior and the results were astonishing.
With the help of the survey, sellers can know the following results.
- Shopping Sentiments
- Budget to spend on this festive season.
- Where they are going to spend
- What they will buy?
- Spending scenarios
First Survey Results
As mentioned, the survey is conducted and followed by the Retailers Association of India (RAI) and LitmusWorld.
They have decided to know the behavioral measures of Indian consumers during the festival.
The survey stats the results in favor of business aspirants to get perfect sales for the sellers.
Survey results for Shopping
The first was to get the information of people who are willing to shop for this festival.
Surprisingly, 89% of the consumers are willing to purchase for this festive season and only 11% are not willing to buy anything.
Survey results for spending mode
After major digitalization, people are less likely to spend using cash even in shopping malls.
- 55% are willing to shop products using credit cards more than debit cards and it becomes the most preferred payment method. Selecting credit-cards over debit cards is because of the attractive offers from Credit Cards.
- 25% of users are willing to select Debit-cards.
- Last year, the use of cash for the festive season is 19% and now it dropped to 9%.
- Similar to this, only 3% of people are willing to do a transaction using Net Banking.
Consumers Budget for Spending this season
It is clear that a vast number of people are willing to purchase this Diwali. But the main question is ” How much money consumers are willing to spend ”
- 15% of People are willing to spend up to 5000 compared to 19% last year.
- 24% of people are willing to purchase between the price range of 5,000 to 15,000 compared to 25% last year.
- 26% of users are willing to spend from Rs. 15,000 to Rs. 30,000.
- 23% are willing to spend Rs.30,000 to Rs. 1,00,000.
- People who are willing to spend more than rs. 1,00,000 are 12%.
A major breakthrough for the categories this Diwali
Especially in the festive season, we see major breakthroughs in the category of Apparel and Fashion.
So, for the clothing category, it will be a major contribution to the e-commerce sellers who are in the clothing sector.
According to the survey results
- Apparel shows an increase of 71% compared to 66% last year.
- In terms of electronics and home appliances, it will be rise by 49% compared to 45% last year.
- Mobile phones take place of 40% of them.
- Jewelry occupies 19% compared to 23% last year.
- 16% of people are looking for a vacation and this was the same percentage last year.
- 14% are considering to buy a new vehicle this Diwali to avail of the massive discounts.
Places where users are interested to buy
- It is quite obvious, Online goes for 76%.
- Malls go for 71% compared to 64% last year.
The Advertising platform preferred by the Marketers
- Online/Social Media
The purchase is highly influenced by…
- Product Features
- Major Discounts
- No cost EMI
- Cashback offers
- Credit Points
- 1+1 offers