Brand salience or top of mind recall during new year shopping was significant in few categories such as alcohol, food and travel, as per a study by Velocity MR. The study further said that it was found that trust and value are considered even more important during this season.
Top new year resolutions for 2018 included people wanting to earn more money, followed by wanting a positive approach towards life and thirdly becoming more confident and thereby taking more risks.
Velocity MR, a technology equipped market research and data analysis companies, announced the results of their latest study to understand what Indians are planning to do this new year. The study covered five key metros of India including New Delhi, Mumbai, Bengaluru, Hyderabad and Chennai with a sample size of over 3000 adults. The respondents were in the age group of 25 to 55, with a 60:40 split between men and women respectively. The study was conducted by Velocity MR through an online survey on their Markelytics Panel among people drawn from varied demographics.
Highlights of the Study
80 per cent of the respondents shopped online for New Year
Among priorities for the next year getting a good job tops the list followed by becoming an entrepreneur and joining the Indian startup ecosystem
Most popular items on the shopping list included clothes, followed by footwear and then electronics
41 per cent of the people seem to enjoy socialising, and parties and hence will be involved in social activities like going for a dinner/to club/ friends’ house, etc
33 per cent people plan to travel and will either travel within or outside of India or at least go on a long drive outside the city
The remaining 26 per cent are those who will be spending time at home or will be working or do not plan to celebrate the New Year
People who are planning to spend time at home on New Year’s Eve said they would watch TV, spend time with their family, order food or enjoy a drink
60 per cent of the people polled plan to order their food online
Most of the people travelling plan to visit beach destinations closely followed by Hill Stations.
Jasal Shah, Managing Director and CEO, Velocity MR, said, “As India matures as a market in line with global economies, so are its consumers. This is reflected in this study which shows the maximum number of people today opting to shop online for all their needs from food to clothes to gifts, etc. which is a growing trend year on year. The study also outlines the relationship between brands and consumers and the importance of building a bond during such occasions”.