80% Indians shopped online for this New Year: Velocity MR study
One out of every four people travel during New Year’s eve, with a significantly higher number of people planning to travel abroad during New Year’s eve. In New Year, very negligible percentage of people purchase gifts for others and instead prefer to buy things for themselves. The study was conducted by Velocity MR, one of India’s leading market research and data analysis companies, through an online survey on their Markelytics Panel among people drawn from varied demographics.
The study found that most respondents shopped online in the past few weeks for a variety of products to bring in the New Year. Top New Year resolutions for 2018 included people wanting to earn more money right on top, followed by wanting a positive approach towards life and thirdly, becoming more confident and thereby taking more risks.
The study covered five key metros of India, including New Delhi, Mumbai, Bengaluru, Hyderabad and Chennai with a sample size of 3,000+ adults. The respondents were in the age group of 25 to 55, with a 60:40 split between men and women, respectively.
Brand salience or top of mind recall during New Year shopping was found to be significant in only a few categories such as alcohol, food and travel. However, it was found that trust and value are considered even more important during this season.
Highlights of the Study:
- 80% of the respondents shopped online for New Year
- Top New Year resolutions for 2018 includes people wanting to earn more money, followed by wanting a positive approach towards life and becoming more confident and taking risks
- Among priorities for the next year getting a good job tops the list followed by becoming an entrepreneur and joining the Indian Startup ecosystem
- Most popular items on the shopping list included clothes, followed by footwear and then electronics
- 41% of the people seem to enjoy socializing, and parties and hence will be involved in social activities like going for a dinner/to club/friends’ house, etc
- 33% people plan to travel and will either travel within or outside of India or at least go on a long drive outside the city
- The remaining 26% are those who will be spending time at home or will be working or do not plan to celebrate the New Year
- People who are planning to spend time at home on New Year’s Eve said they would watch TV, spend time with their family, order food or enjoy a drink
- 60% of the people polled plan to order their food online
- Most of the people travelling plan to visit beach destinations closely followed by Hill Stations.
Commenting on the findings, Jasal Shah Managing Director & CEO of Velocity MR, said, “As India matures as a market in line with global economies, so are its consumers. This is reflected in this study which shows the maximum number of people today opting to shop online for all their needs from food to clothes to gifts, etc., which is a growing trend year on year. The study also outlines the relationship between brands and consumers and the importance of building a bond during such occasions.”