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Saturday, October 31, 2020

61% people likely to spend this festive season: Survey

As per the survey conducted by community engagement platform LocalCircles, due to the COVID-19 pandemic, many new consumers are now using e-commerce sites or calling/sending WhatsApp text to local stores and getting home delivery.

By: Express Web Desk | New Delhi | Updated: October 5, 2020 9:17:00 pm
Lanterns hang on display in a street during the festival of Dhanteras in the Dadar market area of Mumbai, India, on Monday, Nov. 9, 2015. (Photographer: Dhiraj Singh/Bloomberg)

The coronavirus (COVID-19) pandemic has changed the way we go for shopping. Not only our needs have changed this year but depending on our incomes our spending, too, has witnessed a shift. According to a recent survey, as much as 61 per cent of consumers are likely to spend during the upcoming festive season.

As per the survey conducted by community engagement platform LocalCircles, due to the COVID-19 pandemic, many new consumers are now using e-commerce sites or calling/sending WhatsApp text to local stores and getting home delivery.

The survey covered over 65,000 respondents across more than 300 cities.

The survey showed that of the 61 per cent respondents, only 3 per cent of consumers indicated that they will spend over Rs 50,000 during festive season 2020. Approximately 14 per cent of consumers said that they will spend between Rs 10,000-50,000 while another 44 per cent consumers said that they will spend between Rs 1,000-10,000 during the season. (see chart below)

(Source: LocalCircles)

Apart from this, the survey also highlighted that 51 per cent of those shopping during the upcoming festive season are expected to use e-commerce sites as their primary shopping channel, showing a major shift from LocalCircle’s last year’s survey when only 27 per cent were willing to go for e-commerce.

According to LocalCircles, more and more consumers have been shopping online to get things delivered at home over the last few months. The primary reason for this is to reduce their exposure to crowded markets and protect themselves and their families from COVID-19.

A majority of respondents (54 per cent) in this survey also felt that small businesses such as kirana stores, neighbourhood stores, small retailers can attract more customers if they start selling online.

As much as 80 per cent of the respondents in the survey said they will consider buying festive items online from small businesses, artisans, weavers, etc. if they are listed.

“This is a critical finding that indicates that festival-related items made by small businesses, artisans and weavers that in a typical year sell in markets during the festive season could see a lot of orders if they were listed on e-commerce sites,” the report said.

The top categories which are likely to see huge interest from consumers this festive season are grocery and food supplies, white goods and appliances and consumer electronics followed by home renovation and fashion, the survey showed.

When it comes to gifting, however, only 37 per cent of respondents felt e-commerce to be useful for gifting during the upcoming festive season as very few (19 per cent) are expected to undertake festive travel this year because of the pandemic.

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