How excited are you for the upcoming festive season? The end quarter of every year witnesses celebrations of different festivals across India. From Durga Puja to Navratri to Diwali, people spend glorious days enjoying their festivities nationwide. Shopping is a huge necessity before the grand season kicks in. Have you wondered how much urban India usually spends shopping during the festive season? Let’s take a look at shopping preferences and patterns for this year.
Urban India Is Ready To Splurge ₹1.85 Lakh Crore On Shopping During Festive Season 2024
Consumers kickstarted shopping for the beautiful days ahead already. Both offline stores and online apps and websites are noticing an epic rush with people looking for their preferences and purchasing them. With the beginning of buying outfits, accessories, appliances, gifts, and more for us and our loved ones, LocalCircles conducted a survey to find out urban India’s expenditures during this season.
The survey revealed that urban India is likely to spend USD 22 billion (approx. ₹1.85 lakh crore) just for shopping different products this year’s festive season. This special survey began by asking urban households about the approximate budget that they plan to spend during this festive season. 12,008 respondents responded to the question and among them, 4 per cent want to splurge ₹1,00,000 or more.
Another 4 per cent is planning to spend between ₹50,000-₹1,00,000. 18 per cent wish to spend between ₹20,000-₹50,000. 26 per cent are willing to spend between ₹10,000-₹20,000. The findings revealed that 1 in 2 surveyed urban Indian households are ready to spend more than ₹10,000. 14 per cent of these households stated about spending between ₹5,000-₹10,000. 8 per cent of respondents plan to spend up to ₹2,000. Lastly, 26 per cent have no plans to spend money on shopping this festive season.
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More About The Survey
12,249 respondents replied to the question of which factor was most important to buyers when shopping/spending during the festive season. 46 per cent of people stated about focusing on “budget/ value”. 43 per cent mentioned “quality of products”. On the other hand, 8 per cent stated about prioritising “selection/ range” and 3 per cent stated about “convenience”.
Both offline and online shopping have their individual fanbases. The survey highlighted that 70 per cent of 11,710 respondents choose to visit retail stores, local markets, and malls for shopping. 13 per cent stated about shopping on e-commerce platforms/ mobile apps/ online sites. 5 per cent want stores to upload their catalogues online so that customers can order via mobile. 6 per cent of respondents have other channels except these. The other 6 per cent had no proper response.
Pooja supplies and festival groceries are in demand this year with 7 out of 10 households in urban India planning to buy these. 40 per cent of respondents are ready to spend on home decor. About 38 per cent showed interest in spending on beauty and fashion-related products.
How excited are you to shop your heart out this festive season?
Cover Image Courtesy: Canva
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