Aroscop Reports Predict Unprecedented Shopping Season During Festivities, Auto News, ET Auto
All four studies suggest strong demand and willingness to buy products in the mentioned verticals during the holiday season and indicate accelerated adoption of e-commerce. Thanks to the higher vaccination rates, lower infection rates and general public awareness, the country seems largely out of fear of the pandemic.
Here is some key information from the reports:
When asked about their willingness to buy gold, most (55%) of respondents said they look forward to buying gold and gold jewelry during the upcoming holiday season. Most participants (37%) said the auspicious occasion (Dhanteras) would be their main reason for buying gold. 34% of those surveyed will consider offers and sales a good time to invest in gold. The rest, 29% of those surveyed, will buy gold if they marry their family.
When it comes to consumer electronics, 68% of those surveyed said they plan to buy consumer electronics this Diwali. Almost 65% of them will use online channels to place their orders. The accelerated digital adoption across the country over the past 18-20 months could help e-commerce achieve a larger share of sales this season.
Offers, especially the “free service” of purchased goods, come first when asked what the deciding factor is when purchasing consumer electronics.
People are also open to buying a used two-wheeler in the automotive segment as they are to a whole new one. When choosing the vehicle, rural people cite mileage as their top priority, while city dwellers believe the price on the road will help them decide.
Of more than 2,500 people surveyed for the apparel industry survey, 70% said they would buy clothes, shoes and accessories this holiday season. 63% of them will buy clothes online. Ecommerce stores may see new segments coming online and placing orders, as a third of (likely) shoppers are willing to consider going online for the first time.
While the rural population cites discounts as their main motivation, whether it is to buy clothes online or offline, the urban population has different reasons to buy online and in a physical store. They shop online at discounts, while the ability to “try products before you buy” takes center stage in an offline store. In-store purchases may see more takers in the southern states than in other parts of the country.
The studies were conducted in nine different languages covering age groups, locations, gender, income groups and residential configurations (urban and rural).
The objective of the research was to understand the market from several aspects – key drivers and barriers to shopping, price sensitivity, preferred buying channel, and the impact of COVID on purchasing decisions.
The studies took advantage of Aroscop’s consumer analysis tool called Ask1, data science, and audience cohort planning tools. Ask1 is specifically designed to identify micro-cohorts of users with certain behaviors and ask them questions using specially designed interactive creations. Data Science and Cohort Planner tie responses to individual users to generate a detailed persona.
The Solutions Suite helps some big brands across various industries find answers to questions that would have been difficult to answer otherwise due to the nature of the questions or elusive audience cohorts that can be hard to find.