Mumbai: Indians are all set to welcome the festive season with a larger online shopping budget compared to last year, despite the initial few tough months this year. Almost 68 per cent of the respondents plan to shop online this festive season, with 43 per cent of Indians increasing their online shopping budgets this year, and parallelly, 39 per cent decreasing their offline shopping budgets, according to the new report launched by InMobi on Wednesday.
The report titled 'Decoding the 2021 Festive Shopper' reveals that connected consumers in India plan to spend Rs 21,230 on average, 42 per cent higher than last year. Clothing and accessories, personal-use gadgets, and home appliances top the charts as the most popular shopping categories.
InMobi surveyed over 2500 smartphone users across 80 tier 1, 2, and 3 cities and clusters in India using its consumer intelligence platform Pulse, to throw light on consumer preferences, shopping patterns, peak-shopping timelines, and device usage patterns. Additionally, one in three respondents that hail from tier 2 and 3 cities claim to be first-time online shoppers.
“The festive season always remains about larger-than-life emotions, get-togethers, and a plethora of traditions. Amongst all this constancy, mobile has emerged as the medium for connected consumers to learn, explore, communicate, and buy," said InMobi MD for Asia Pacific Vasuta Agarwal. "Our research shows that over 60 per cent of respondents use their mobile to research, explore, or make the final purchase. This makes it extremely critical for brands to be mobile-first in their festive strategy to win the connected festive shopper this year."
In India, the seasonal celebrations continue from the beginning of September to the end of the year, and the one thing that stays consistent throughout these four months is shopping. Almost 60 per cent of respondents in tier 1, 2, and 3 cities plan to make purchases in the period before Dussehra, defining the peak timeline for their festive shopping.
The report also reveals deeper insights on the evolving shopping patterns this year among the Bargain Hunters, Category Explorers, and Brand Lovers segments.
• 47 per cent of festive shoppers fall in the Bargain Hunters segment, as they are unsure on the categories they plan to purchase and are primarily on the hunt for attractive offers, irrespective of category.
• 39 per cent of festive shoppers fall in the Category Explorers segment as they have decided the categories that they intend to shop in but are yet to finalize the exact brand or product. They are expected to spend 20% higher than last year.
• 14 per cent are Brand Lovers as they have already made their decisions on the specific brands and the products that they will purchase. With focus on jewellery and home decor, brand lovers have the largest budgets of all the three segments.
“Over the past year, we have seen a diverse set of brands leverage InMobi’s shoppable mobile experiences and online to online/ offline commerce solutions to drive relevant engagement with connected consumers,” added Agarwal. “These solutions will play an even more significant role in the upcoming festive season as brands look to strengthen their online presence and drive growth.”
