Increase expected in consumer spending for festive season: InMobi report

InMobi has released a report through which it looks to decode the shopper journey of consumers ahead of the festive season to assist marketers with their spends. The report surveyed 1,500+ Indian mobile users between 7-17 August.

 

According to the report, the festive season sentiment remains positive this year with the respondents to the survey indicating an average spend of Rs 15,000. During a webinar hosted by Campaign India and InMobi on the same topic which had 125 attendees, more than 50% of the participants stated that they would be spending more than Rs 25,000.

 

This is an increase from previous years, as 26% of the respondents are looking to spend Rs 25,000 upwards. This was 20% in 2018 and only 16% in 2019.

 

Clothing and apparel is the top category where consumers will be looking to spend, but there's a decrease in numbers in the category.

 

Home appliances, gift packs, gadgets and home furnishing categories are likely to see an increase, while jewellery purchases are expected to drop in comparison to previous years.

 

71% of the respondents have the intent to make purchases but are undecided as to which product or category they'll be looking to purchase. 

 

Rajesh Pantina, head of marketing, Apac, InMobi, said, "The consumer sentiments remain positive despite the pandemic. We do see that more than 70% of the consumers are unplanned and undecided which means there's so much more scope for brands to influence them." 

 

49% of the respondents state that planning for the festive purchase starts a month before Dussehra, which will be celebrated on 25 October this year.

 

The report also suggested that 33% of the respondents were looking forward to cricket/IPL action, with 18% awaiting Bigg Boss. Football (11%), Tennis (8%) are also popular choices for consumers with Femina Miss India coming in at 9%.

According to the report, mobile dominates every stage of the shopping journey. It is critical to learn, explore and buy for consumers.

 

63% consumers learn about products on mobile, 77% consumers explore and research about products on mobile, and 62% buy on mobile. Whether the festive shopping is online or in-store, mobile is the constant companion for learning, exploring and buying in the customer’s shopping journey.

 

Rohit Dosi, director, Microsoft Advertising at InMobi, explained, "I think from a marketeer perspective - mobile is an emerging medium. Now, it's time marketers have the right experience for consumers. Once, the user is showing interest, it's important to take people to the right landing page. Also, other factors include the quality of landing page, page load time etc. For a B2C brand, if one has an app, it's the best way to get people to land them there." 

 

Jayesh Ullatil, VP and GM, InMobi, delivered three tips for marketers who would be looking to capture the audience ahead of the festive season.

 

"It's an opportunity for marketers. My first warning will be - don't go for the sale, plan for the cycle. Be visible to people across platforms online. So the person is aware about your brand or product when he goes for the purchase. Secondly, you need to understand the audience and where he/she is making the decision  and also ready to listen to you the most.  Thirdly, brands get a short window, so create a path to the purchase process." 

 

To learn more about the report, watch this webinar hosted by Campaign India and InMobi. The full report can be downloaded here.