MAM

Post-lockdown perceptions, aspirations and anticipations of Indian millennials

The report highlights customer behavior from the age groups 18-25 and 26-39

https://www.indiantelevision.com/sites/default/files/styles/smartcrop_800x800/public/images/tv-images/2020/04/25/laq.jpg?itok=l2e5bN13

MUMBAI: The current lockdown is a dark phase, something that the world has not witnessed in decades. But there is always a silver lining in any adverse situation. Laqshya Media Group  has found a bit of that silver lining by conducting a research study to help marketeers figure out the perceptions, aspirations and anticipations of the Indian Millennial via-a-vis the ‘New Normal’ that the world faces today.

An online study was conducted reaching 1104 respondents across the primary cities in India. The target group belonged to the age group between 18 and 39, across genders and representing both NCCS A andB. Summarising all the reports and survey results has helped Laqshya assess the perceptions, aspirations and anticipations of the Indian millennials. The good news is that not only are the IMF and the RBI confident of India bouncing back – so are the Indian Millennials. A few findings of the report are excerpted below.

The research talks about customer behavior as per two primary age groups 18-25 and 26-39. Analysis shows that each cohort responded differently to some of the questions posed to them, while they were statistically similar in response to others. For example, one of the questions was whether people will wait to visit malls, restaurants or any public places right after the lockdown is lifted. 75 per cent of the entire respondent base responded that they will be back within four to five weeks. The younger people, 18-25, shared that they will hit the malls in an average of 23 days while the 25-39 cohort’s average wait time was 29 days!

But 31 per cent of the targeted group is more likely to use personal travel more frequently as compared to earlier. A sneak peak of this data can be seen in the pie chart given below that shows the time people will wait to go out post the lockdown.

It is interesting to realise that people have different mindsets towards outings, investing and traveling. Similar to the aforementioned question, a series of questions were asked to the people from different ages, genders, backgrounds and professions. Majority of people responded that they want to meet friends and family after the lockdown. It was noted that younger people and women had a major inclination towards eating out.

The millennials are optimistically cautious especially in investing money or procuring assets. 53 per cent of the respondents want to invest in fixed deposits, but more than 40 per cent of them continue to have faith in mutual funds, and more than a quarter anticipate investing in the stock market. The millennials also want to invest more in education and development of their skills, which will surely give a boost to the education sector.

In the advertising world, print and outdoor media have taken a major hit as people during the lockdown had little option but to move to digital news portals and OTT platforms. Most of the population is binge watching on all the major OTT platforms. Video calling apps have also gained great popularity thanks to official meetings and social hangouts being restricted to our laptop/mobile screen. Will these trends stay after the lockdown ends? On that note, 36 per cent of the respondents said that their online shopping will increase, and whopping 86 per cent say that they will notice OOH advertising as much or more than they did before!

References from the reports by The Reserve Bank of India, The International Monetary Fund and McKinsey and Company were also taken into account while making the report.

Laqshya Media Group CEO Atul Shrivastava believes that people in India are committed to fight and win over the current situation. He said, “There is a huge consumption of every product in India and there will be eagerness amongst the brands to become the first choice for every consumer. This is likely to fuel the demand for the advertising sooner than most nay-sayers predict.”

Laqshya Media Group MD Alok Jalan is positive of the way ahead, “Although some industries have taken a major hit, others like the e-commerce businesses have a lot of scope ahead. This is also a good opportunity for the traditional businesses to evolve their digital presence. If we are able to contain the pandemic shortly then there is a scope for the market to bounce back and show growth.”

Follow Tellychakkar for the consumer facing news & entertainment

Latest Reads

https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2022/01/18/zee-learn.jpg?itok=iBCbfm6f
Zee Learn appoints Anish Shah as chief financial officer

Zee Learn on Tuesday announced the appointment of Anish Shah as chief financial officer (CFO).

MAM Media and Advertising People
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2022/01/18/img_18012022_184503_800_x_800_pixel.jpg?itok=Jy1k5YMH
Zepto unveils new campaign for its fruits & vegetables offering

Mumbai: Grocery delivery app Zepto has launched a new DVC to drive its biggest offering yet - fruits and vegetables.  Coming just a few months since its launch campaign, this latest campaign developed by L&K Saatchi & Saatchi consists of three digital films that build on the brand’s promise...

MAM Marketing MAM
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2022/01/18/img_18012022_184150_800_x_800_pixel.jpg?itok=pggxs4UK
Crypto exchange OKEx rebrands as OKX

Mumbai: Cryptocurrency exchange OKX  on Tuesday announced a company-wide rebrand that reflects the dynamism and accelerating adoption of cryptocurrency. This shift, as highlighted by the company’s name change from OKEx to OKX, reflects the platform’s growing number of wealth creation opportunities...

MAM Marketing MAM
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2022/01/18/img_18012022_172946_800_x_800_pixel.jpg?itok=QPn1JHGR
Kantar Annual Trends 2022 report unveils 10 themes for recovery & innovation

Mumbai: 2021 has been a year of discovery for consumers. As we learn to adjust in a world that changes often and unpredictably, brands would need to listen more intently to consumers than ever before, be transparent in their promises and provide solutions for their evolving needs. Keeping this in...

MAM Marketing MAM
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2022/01/18/img_18012022_171740_800_x_800_pixel.jpg?itok=j866mkvo
FoxyMoron bags digital mandate for Organic Tattva

Mumbai: FoxyMoron, the full-service creative and performance agency under the Zoo Media Network has bagged full-funnel digital and performance marketing mandate for Organic Tattva, following a multi-agency pitch. The business will be handled by the agency’s Gurgaon office.  FoxyMoron will be...

MAM Media and Advertising Account
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2022/01/18/img_18012022_124747_800_x_800_pixel.jpg?itok=Ik8glywc
upGrad taps Sanjay Kumar to build corporate affairs & public policy vertical

Mumbai: Ed-tech major upGrad on Tuesday announced the appointment of Sanjay Kumar who will spearhead the company’s new vertical of corporate affairs and public policy for India. He will be based out of the company's Noida office and also lead the scholarship efforts. As part of his new role, Kumar...

MAM Media and Advertising People
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2022/01/18/img_18012022_122554_800_x_800_pixel.jpg?itok=K7k06irV
Shashi Sinha, Vikram Sakhuja join Axis My India advisory board

Mumbai: Consumer data intelligence company Axis My India on Tuesday announced the constitution of a pioneering advisory board with IPG Mediabrands CEO Shashi Sinha and Madison Media Group CEO Vikram Sakhuja joining the board. Sakhuja is nominated as chairman of the board. "The company has embarked...

MAM Marketing MAM
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2022/01/18/alia_bhatt22.jpg?itok=NQdsH09e
Alia Bhatt performs magic tricks in Lay’s new ad for ‘thinnest chips’

MUMBAI: Lay’s has launched a new digital campaign for its recently introduced “thinnest range of chips” - Lay’s Wafer Style.  Titled ‘#TheThinPossibleChip’, the campaign encourages fans to try fun and quirky magic tricks using the flavourful and light, “Lay’s Wafer Style – a chip so thin and paper-...

MAM Media and Advertising Ad Campaigns
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2022/01/17/img_17012022_181443_800_x_800_pixel.jpg?itok=u99W6Miq
Eggoz Nutrition unveils its 'Extra In The Ordinary' campaign

Mumbai: Eggoz Nutrition, a Gurgaon-based consumer-oriented and integrated farmer egg brand has launched a new campaign called 'Extra In The Ordinary.' Produced by Some Place Nice, the campaign was launched online, utilising a combination of static and video assets to reach the target demographic...

MAM Marketing MAM

Sign up for our Newsletter

subscribe for latest stories

* indicates required