Shopify has released a festive shopping outlook report for 2021. The findings of the report track Indian retail sectors and their pandemic consumption habits.
The survey trackings were from 15 September to 20 October 2021, the prime months for festive shopping. The focus group for the report were 800 metro and non-metro shoppers.
The report is aimed at analysing the impact of multiple lockdowns due to Covid-19, and its effects on retail landscapes, economic downfalls, consumer cohorts and consumption patterns.
According to the consumer insights outlook, trends that determine the course of the Indian retail sector have been reported.
Highlights of the report:
53.5% of millennial shoppers from non-metros have displayed a strong preference to shop online
Health and safety concerns have pushed customers to adopt tech-enabled family shopping experiences
2/3 Indian shoppers had not started shopping for the festive season at the time of taking this survey. This is in sharp contrast to pre-pandemic traditional behaviours where festive shopping would kick off nearly a month in advance
58% stated that they would prefer to support and shop from small online businesses. Local businesses to win big as consumers wake up to the advantages of shopping locally
Even with accelerated vaccinations in the country, consumers are still cautious about physical shopping and in-person interactions
Convenience, value for money and personalisation offered by online players has enhanced e purchasing’s appeal
50% of consumers prefer home décor and furnishings in this year's festive shopping lists under the gifts category
42% of consumer budgets showcased propensity towards electronic gadgets. High-speed internet connections have translated onto a large proportion of downsized festive budgets being allocated to electronic products this year
76.9% of consumers show a deep inclination towards online shopping this festive season because of the convenience it offers
50% of respondents surveyed stated that they preferred to process payments via UPI as opposed to any other form of transaction. Interestingly, the preference remains consistent across both, online and offline shopping experiences