Upcoming festive season to witness 47% higher consumer spendings than previous year: report

Delhi: As the festive season approaches, Indian consumers are gearing up for a significant shopping spree, as revealed by the positive spending sentiment observed in the third edition of Disney+ Hotstar’s Festive Shopping Sentiment Survey. 

The survey reflects a strong consumer confidence, with shoppers expected to boost their spending by a remarkable 47% compared to last year. Millennials are predicted to lead the charge, with women shoppers notably increasing their budgets by 70% over the previous year, focusing on multiple categories including clothing, mobile phones, food, and beauty products.

The third edition of Disney+ Hotstar’s Festive Shopping Sentiment Survey has brought in consumer behavior insights highlighting that the upcoming festive season would see higher consumer spends. 

The spending is likely to be 47% higher than the previous year, reflecting strong consumer confidence. It further reveals that millennials are predicted to lead this boost in spendings, with women shoppers increasing their budgets by 70% over the previous year – across multiple categories including clothing, mobile phones, food, and beauty products.

Key findings by the survey:

• Increased spending capacity: Improved spending capacity will drive higher expenditures this festive season

• Millennial vs. Gen Z spending: Millennials are expected to spend more compared to Gen Z

• Women shoppers: Women shoppers will increase their budget by 70% compared to last year and shop across more than two categories

• Top categories: Festive shopping baskets will comprise clothing, mobiles, food, and beauty products

• Upgrading technology: Consumers are looking to upgrade to 5G-enabled mobile phones and smart TVs this festive season 

• Preference for online shopping: 59% of consumers prefer to shop online

• Influence of online video ads: Online video ads will be the top information source, with 58% of consumers discovering brands and services through these platforms

• Digital payment preferences: 67% preference for digital payment options, with UPI leading the way

Dhruv Dhawan, Head of Ads at Disney+ Hotstar, reflected on the festive season outlook saying, “We are excited about the upcoming festive season, given the positive consumer sentiment reflected in the survey. Disney+ Hotstar’s wide array of shows and movies across languages offers the perfect platform for brands to connect with consumers as they plan their festive shopping. Our platform is uniquely positioned to spotlight brands and their offerings through our innovative ad formats and comprehensive targeting options.”