The second edition of Disney+ Hotstar’s Festive Shopping Sentiment Survey has found that shoppers this festive season are likely to increase their spending by 14% over last year, driven by a 12% increase in the size of their shopping baskets.
As per the Festive Shopping Sentiment survey, 9 in 10 consumers expressed a healthy appetite to spend for the upcoming season. With an average budget of Rs 17,000, shoppers are predicted to boost their spending by 14% compared to the previous year.
This will be fueled by a 12% rise in shopping basket size, with the most popular categories being clothes, mobile phones, and health and beauty. Festive bonanzas, such as brand and cashback incentives, discounts, and other promotions, can influence customer mindsets even more.
The survey also found that consumer spending is expected to be heavily influenced by online ads. It is prone to sway towards online shopping, with 60% of consumers discovering brands and services through online platforms as they shop for themselves and for gifting purposes. Accompanying the online shopping sentiments of 7 out of 10 shoppers, digital payment options also recorded a 36% preference, with UPI in the lead.
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