Indicating the return of positive consumer sentiment, 60% of surveyed households have said they will be shopping during the upcoming festive season, according to LocalCircles.
As per the online community social network, in May 2021, only 30% of households had indicated that they planned to make discretionary purchases in the next 12 months.
“With 60% households now planning to spend during the festive season, it indicates that the economic uncertainty that was prevailing in May at the peak of the second COVID wave has greatly reduced,” LocalCircles said in a statement.
It added that when asked about the most important criteria for shopping, 18% of households said ‘convenience’ will be their top criteria, while 35% each opted for ‘budget/value’ and ‘safety,’ and 10% said ‘selection or range.’ “This question in the survey received 7,980 responses. The results of this question clearly indicate that for many households, budget/value will be the primary focus while for several others safety will be of paramount importance,” it said.
Further, 52% of households who will be shopping this festive season said they are likely to do so by ordering online and via local stores for home delivery. The survey also found that 55% of those making big-ticket purchases this festive season are likely to spend on the smartphones and consumer electronics category.
Digital payments are likely to be the primary payment mode for two in three households during this festive season and gifting also is expected to be strong.
In total, the survey got 115,000 responses from over 38,000 households across 396 districts of India.
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