81% of consumers to shop online this festive season, one in two to increase spending online, says Amazon report
According to a study conducted by Nielsen Media India on behalf of Amazon India, consumers all throughout the country are optimistic about buying online during this festive season, with one in two planning to spend more than they did the year before.
According to the report, 81% of consumers plan to shop online over the festive season, and more than 75% of consumers believe that e-commerce platforms offer genuine goods and are the most convenient option for festive shopping. "Consumers expect a wide selection, unmatched value with competitive pricing, plus the convenience of easy returns and exchange, which is driving the core online shopping experience," the report said.
Mr. Manish Tiwary, Country Manager India – Consumer Business, Amazon India, said, “The Festive period is the favourite time for consumers and sellers across India. As a marketplace, we are excited for our sellers and customers, and confident that the ‘Amazon Great India Festival 2023’ will offer a seamless shopping experience, incredible value, the widest selection of domestic and international brands and products, and unmatched convenience for consumers across India.”
The report also stated that 75% of consumers find the widest selection and 68% have the greatest level of trust in Amazon.in.
According to the study, Amazon.in is the most popular online retailer in India for large appliances (51%), mobile phones and other smartphones (44%), consumer electronics (43%), groceries (41%), home and kitchen (40%), clothing, footwear, and fashion accessories (38%), and beauty (35%).
Furthermore, the report said, that over 87% of consumers in metro areas and 86% of those in tier-II cities (with a population of 10-40 lakh) will prefer to shop online over this festive season. More than 77% of customers said that online festive shopping events make it more convenient for them to shop online by options like faster delivery.
Moreover, it said that attractive offers (76%) and new brand launches (75%) are the main reasons why customers wait until online festive shopping events to buy electronic goods.
With appealing bank offers and no-cost EMIs, more than 75% of consumers are thrilled to make their purchases easier and lucrative.
As per the report, three out of four consumers wait for online festive shopping events to buy big appliances since they may access new brands and product debuts for items like refrigerators, washing machines, geysers, and air conditioners on these occasions. An insight into consumer behaviour revealed that 76% of people wait until online festive shopping events to buy smartphones, 60% are interested in smartphones in the Rs. 10,000-20,000 (US$ 120.11-240.22) price range, and two in three people want 5G features.
For their festive online shopping, 42% of consumers use Unified Payments Interface (UPI) as their preferred payment option. Additionally, 57% said that UPI is their preferred digital payment option for receiving rewards and cashback, particularly during the festive season.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.