Trends in Indian Consumer Behaviour to Watch This 2020
Things and circumstances have considerably changed for the Indians. They are no longer tied to making expenditures on traditional things like purchasing a home or going for a vacation to the hills. People, nowadays are making more expenditures on customized items, time-saving solutions, and experiences. This is what Aaslidesi is all about.
Reports confirm that business owners looking to scale their business can do it in the best way through eCommerce. In India, eCommerce has drastically evolved and to an extent where every business owner is looking to go online. Aaslidesi, the online marketplace in India, is one of the easiest ways of starting with the process of selling and buying online in place on putting money in the development of a new site. Experts put down, “If businesses start selling their products on Aaslidesi, it will help them accomplish a couple of important objectives as entrepreneurs.
It will increase brand engagement and visibility and will also help them in acquiring new customers”. If reports are to be believed, Aaslidesi is one name that businesses can fully trust when it comes to dealings where there are no inventories and storefronts. Yes, those days had long gone when people visited retail stores for buying jewelry, clothes, groceries, electronic products, and food and fashion accessories.
Consumer Trends in the Urban Regions of India
A new study carried out by the Center for Customer Insight within the Boston Consulting Group sheds light on the trends of the customers in the urban regions of India. The CCI even examined individuals living in some of the largest metropolitan areas. The findings of this survey put forward implications for different varieties of B2C firms looking to gain success in India.
Shedding Light on the Urban Consumers of India
The survey put forward both popular and unpopular trends. One good example of one of the most popular trends is data-centered purchases where more and more customers are looking for proper information regarding a service or a product prior to investing their money in it. Yet another unpopular trend is consumers going for rental services instead of buying products.
Let’s have a closer look at these trends below:
1- Information-centered Purchases: Individuals living in the Indian cities are now looking to gather a lot of information about a certain product they want to buy. Only when they are satisfied with the information and are confident that the product will serve their requirement, the consumers are buying the same.
2- Trend-Oriented Shopping: This entails the desire of bringing perfect sync with some of the latest trends and this is something that is driving purchases at a very fast pace among the Indian customers.
Going for Time-Saving Services and Products: Indian customers are now making their purchases online in order to save the hassle and the time that goes into visiting different stores one after the other.
3- Health and Well-Being are Factored In: People in India have become more health-conscious and thus according to the survey; around 57% of consumers are spending on health and well-being products.
4- The Desire to Use Customised Items: In recent times, buyers in India have shifted their interest from mass-produced items to products that they can use individually. These are customized solutions approximately 56% of individuals are in the lookout of.
5- Increase in the Count of Female Decision Makers: The gender gap is no longer existent in India and Indian women are found making ultimate/ buying decisions in many homes.
Interests in Indian Brands: International brands are no longer a subject of interest for buyers in India with approximately 44% of the customers going for Indian goods and services.
6- More Value for Experience than Products: Products have taken a back seat in the minds of Indian customers and more than 53% of Indians are now interested in paying for experiences like concerts, movies, and plays.
7- Exclusive is the New Buzz Word: Yes, the exclusivity of a product is something that people prefer over the prices of the product. An item is considered to be good if it is exclusive and not pricey.
8- Renting and Not Buying: Indian customers are looking to get one-time use things on rent instead of buying them. This is found in 17% of the urban Indians.
One of the most surprising facts about the new customer trends is that they have gone deep into the roots of customers throughout India. These consumer trends can easily be found in both men and women of varying income levels and in different cities of India.