In a changing consumer trend amid the lockdown, as much as 47% of the elderly (55-65 years) in India are moving online and are ordering milk, grocery and home essentials through e-commerce and paying through wallets and UPI.
This was revealed in a survey conducted by Enormous Brands.
Further, internet banking has seen an uptick with data suggesting that first time users have increased by 28% in just the last month. The maximum shift of 33% is among the age group of 35-50 – this is the ‘bankers’ delight segment as it is the most profitable customer band, the report states.
The survey has also revealed that the virus has increased consumer preference for Indian made goods over Chinese.
As per the report, 42% believe that there is an active and deliberate attempt by China to spread COVID across the world for economic gains. This has led to a strong anti-China sentiment. The data suggests that 47% of Indians are willing to pay up to 25% higher for Indian made goods over Chinese made.
Another consumer trend that is reportedly changing is that people are now buying vegetables, fruits and other grocery without asking for the price. Around 42% of respondents are now buying vegetables and other consumables without asking for prices.
Commenting on the study, Ajay Verma, Managing Partner, Enormous Brands, said, “The young Indian population is behaving very differently from other parts of the globe. The study suggests a high level of optimism, even in a situation that has brought the entire world in a lockdown and also showcased that households feel confident about the revival of the Indian economy.”
He added, “This study was conducted to help brands understand how the current situation is moulding the habits, behaviour and attitudes of Indians. We believe this will help shape client communication and offer strategic counsel in line with the prevailing sentiments of the consuming class.”
The quantitative web-based study was administered between March 30 and April 22, 2020. The total sample size was 3,737 and this included Mumbai: 837, Delhi (incl. NCR) 782, Bengaluru 774, Chennai 519, Pune 428 and Ahmedabad 397. Out of the total sample size, 68% were graduates.
Enormous Brands is an independent advertising agency that has partnered with leading brands in the country like Dish TV, OLX, Lenskart, Shopclues, Tata AIG, Reliance, DNA, HotStar, and others.