Shopping behavior in India - statistics & facts
India is a multicultural country with diversified linguistics, climates, and customs. It is not only the place of origin of major religions but also home to over 1.4 billion people. Understanding customer behavior in India requires defining your target audience as it might be difficult to market in such a diversified region. However, the market potential is enormous. By 2028, India is expected to exceed the United States’ gross domestic product (GDP) after China.
Over 15 million traditional “Kirana” stores exist in India, accounting for 88 percent of the retail industry. Storekeepers have long-standing connections with their customers and a thorough understanding of their preferences and requirements, as consumers visit these stores twice or thrice a week to get fresh products. Consumers are no longer solely concerned with the product. They value connections and community in order to make purchase decisions. In addition, authenticity becomes increasingly crucial as more consumers support local companies and sustainable products.
With growing digital use, the e-commerce market was already on the rise, but the pandemic hastened its expansion. Because of the pandemic lockdown, consumers were pushed online to buy products even for their day-to-day needs. Therefore, after the lifting of COVID-19 restrictions, several barriers to online purchases have been eliminated resulting in significantly faster adoption of digital payments.
Online shopping is preferred by consumers during the festive season because it is safer, time-saving, and more convenient than visiting a store. In early October, Flipkart’s Big Billion Days and Amazon Great Indian Festival Sale will spark shoppers’ interest, and this pace is expected to continue until the season’s end. This was largely anticipated to remain unchanged in 2023 as well. Moreover, the most popular shopping categories among Indian consumers were electronics, apparel, and footwear.
Over 15 million traditional “Kirana” stores exist in India, accounting for 88 percent of the retail industry. Storekeepers have long-standing connections with their customers and a thorough understanding of their preferences and requirements, as consumers visit these stores twice or thrice a week to get fresh products. Consumers are no longer solely concerned with the product. They value connections and community in order to make purchase decisions. In addition, authenticity becomes increasingly crucial as more consumers support local companies and sustainable products.
Trends in shopping behavior
Consumers’ attitudes are evolving in India because of increased earnings and exposure to new ideas and technologies. However, most consumers prefer a combination of both online and in-store shopping. Consumers are more driven toward information-centered shopping, purchasing products to keep up with current trends, up-taking time-saving services, and increasing demand for customized products. Moreover, consumer behavior is influenced by the perceived value of money. Even for luxury products, Indian consumers are well-informed and seek to obtain a reasonable value.With growing digital use, the e-commerce market was already on the rise, but the pandemic hastened its expansion. Because of the pandemic lockdown, consumers were pushed online to buy products even for their day-to-day needs. Therefore, after the lifting of COVID-19 restrictions, several barriers to online purchases have been eliminated resulting in significantly faster adoption of digital payments.
Festive shopping in India
The month of October, November, and December are the busiest shopping months in India due to the major festivals such as Diwali, Dussehra, Navratri, Dhanteras, and Christmas. Shoppers believe this is an auspicious time to purchase, and sellers respond by giving huge discounts and the best deals during this season. About 35 percent of consumers prefer to spend on pooja and Diwali supplies during the holiday season mainly through online shopping websites and apps.Online shopping is preferred by consumers during the festive season because it is safer, time-saving, and more convenient than visiting a store. In early October, Flipkart’s Big Billion Days and Amazon Great Indian Festival Sale will spark shoppers’ interest, and this pace is expected to continue until the season’s end. This was largely anticipated to remain unchanged in 2023 as well. Moreover, the most popular shopping categories among Indian consumers were electronics, apparel, and footwear.
