Highlighting the interests and spending pattern of this festive season, social media platform ShareChat states that users in Bharat are more willing to shop online this festive season. In a report titled ‘Bharat ki #FestiveFeeling’ ShareChat says that every one in two Bharat user is willing to spend more this year than last year during the festive season.
The findings in the report are based on primary data collection through an online survey among 2,843 ShareChat users aged between 18 and 40 years, with a male-to-female ratio of 70:30 across 15 states in India. It deciphers the shopping sentiment of Bharat ahead of the festive season and deep dives into categories like e-commerce, automobiles, beauty, and jewellery, that are on the list of Bharat this festive season.
In terms of cities, Maharashtra topped the festive spending charts this year with 55 percent users willing to spend more this year, followed by Bihar, Delhi, Rajasthan, Chhattisgarh, and Uttar Pradesh. Apparels, mobiles and accessories, and jewellery emerged as the top three shopping categories
As per the survey, around 44 percent of Bharat’s purchase decisions are influenced by social media. Additionally, discounts and offers are major factors that influence 49 percent of Bharat’s purchase decisions.
During this festive season, one in three Bharat users is expected to spend over Rs 20,000 and about 8 percent will spend over Rs 100,000, boosting the overall ticket size of festive purchases. Gifting is anticipated to be one of the top motivations for spending money during this festive period. 24 percent of Bharat wants to buy with the intention of gifting. As Bharat upgrades their devices or gives some as gifts to loved ones, sales of mobile and accessories, and jewellery will also experience a significant increase.
Interestingly, one in four Bharat plan their festive shopping last minute and 76 percent are making decisions basis ads. Online shopping is a popular choice for Bharat as it is driven by various discounts and offers. Social media is the most important factor influencing purchase intent and buying behaviours. At 44 percent, it leads the way as a source of information on brand offers, reviews and recommendations.
“Social media plays a pivotal role for Bharat users today in purchasing decisions as it aids in product discoveries and recommendations. Users on ShareChat love to post and share festive wishes and greetings with their loved ones in their regional language. Our report deciphers the shopping sentiment of Bharat ahead of the festive season, which will give marketers a direction to plan their strategies on effectively engaging with the Bharat users,” says Ajit Varghese, chief commercial officer, ShareChat and Moj.
ShareChat currently has over 180 million monthly active users.