India’s festive shopping marked by increased consumer confidence: HT Media report

Delhi: HT Media has launched its 2024 Consumer Trends and Festive Insights Report. 

This report covers ten key  product categories and provides an in-depth analysis of consumer behaviour. 

Key Insights to Watch 

A notable finding is the remarkable increase in consumer confidence. Over 50% of HT Print and Digital readers are planning to purchase a four-wheeler, while more than 40% are  considering a two-wheeler this festive season. 

This indicates a robust rebound in consumer sentiment, suggesting a promising season for significant purchases, where  consumers are eager to spend but remain discerning about value and quality. 

“The insights  from our report reveal a transformative shift in consumer behaviour as we approach the  festive season,” said Saurabh Sharma, Head of Marketing and Insights at HT Media. “Brands  prioritising value-driven engagement, will strengthen their relevance and forge meaningful  connections with consumers during this pivotal time. We anticipate many will leverage HT  Media’s industry-first Festival of Gifts campaign and audience-network solutions for laser  sharp targeting this festive season.”

Emerging Consumer Trends 

Developed in collaboration with Kantar, the report highlights a growing trend towards  value-driven consumption. Over 70% of HT and Mint readers plan to travel internationally  within the next two years, reflecting a rising aspiration for global experiences. Furthermore,  more than 65% of Hindustan Times and Hindustantimes.com consumers intend to buy a new  smartphone this festive season, with many willing to invest between Rs 10,000 and Rs 50,000.  This emphasises the necessity for brands to offer compelling deals and promotions to  capture this demand. 

Digital and Luxury Consumption 

Digital shopping continues to dominate the festive landscape, with consumers actively  seeking the best deals. The report also underscores the lasting allure of luxury products,  with over 55% of HT and Mint readers already owning high-end items. As the festive season  approaches, more than 65% of LiveHindustan.com and Hindustan readers plan to invest in  jewellery, showcasing a strong preference for traditional, high-value purchases.