The festive season is set to begin in India and online and offline sales have begun starting today. Every year, this season witnesses urban Indians spending huge sums buying various products including gifts, appliances, electronics, furniture and more. As festive sales hit the online and offline circuit this year, a survey by LocalCircles has indicated that urban India is likely to spend $22 billion (Rs 1.85 lakh crore) during the festive season 2024.
The survey asked urban households as to how much they plan to spend during this festive season (spending beyond your regular monthly spending). Out of the 12,008 responses received, a total of 4 per cent said they would spend Rs 1,00,000 or more, 18 per cent stated “between INR 20,00-50,000” and 26 per cent stated “between INR 10,000- 20,000”. To sum up, 1 in 2 urban Indian households surveyed said they will spend over Rs 10,000 this festive season.
Next, the survey asked urban Indian consumers as to what factor was most important to them when shopping/spending during this festive season. Out of 12,249 responses to the question, 46 per cent stated “budget/ value”; 43 per cent stated “quality of products”; 8 per cent stated “selection or range”; and 3 per cent stated “convenience”.
The survey then asked the urban Indian consumers, “How are you buying/plan to buy majority of the items you need for this festive season?” The question received 11,710 responses with 70 per cent stating that they “would like to visit the mall, retail stores, local markets and buy” while 13 per cent stated that they “would like to place orders via ecommerce/ online sites/ apps.”
The survey also asked urban consumers, “What are all the categories in which your household is making/likely to make purchases this festive season?” Some among 12,970 who responded to the question selected more than one option. At least 70 per cent indicated “pooja/ Diwali supplies (diyas, lamps, candles, lighting, flowers, etc.); 64 per cent indicated “festival grocery (gift packs, gourmet, foods, dry fruits, fruits, chocolates, traditional sweets, etc.)”, while 40 per cent indicated “home décor (furniture, decorative, furnishings, paints, sanitaryware, lighting, etc.). Meanwhile, 38 per cent consumers indicated they would spend on “beauty and fashion (apparel, cosmetics, shoes, bags, etc.); 22 per cent indicated smartphones and consumer electronics mobile phone, tablet, laptop, printers, router, television and all other electronics, etc.); 18 per cent indicated “white goods and appliances (AC, heater, vacuum cleaner, fridge, air purifier, etc.); 4% indicated “automobile (car, bike, scooter, etc.); and 4 per cent indicated “jewellery (diamond, gold, silver, etc.).
The survey received over 49,000 responses from consumers located in 342 urban districts of India. While 61 per cent respondents were men, 39 per cent were women. A total of 44 per cent respondents were from tier 1, 34 per cent from tier 2 and 22 per cent respondents were from tier 3, 4 and 5 districts.
LocalCircles, a Social Media platform, enables citizens and small businesses to escalate issues for policy and enforcement interventions and enables the Government to make policies that are citizen and small business centric.
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