 "Purchasing intention gets a boost as economy shows signs of recovery")
Consumers’ intentions to travel or buy movie tickets have seen a sharp rise in the past two-three months as the vaccination count rises and the economy shows signs of recovery.
QuantEco Research used data from Google searches for booking Oyo rooms, travelling through MakeMyTrip, and buying movie tickets from BookMyShow, etc. to get an insight into consumer demand. Plotting four-week moving averages of these searches on graphs showed that consumption is rising.
Besides travel and movie outings, searches for Oyo rooms also showed some improvement but it was not as sharp.
After April-May of 2020, there was a significant rise in consumer intention to book furniture on Pepperfry throughout the year as people looked to remodel homes, afraid of stepping out.
Similarly, intentions to buy consumer products through Nykaa and Croma picked up pace. Besides, searches for vehicles under the category of onroad price remained resilient last year as well as this year as people prefer personal vehicles instead of public transport.
QuantEco Research used data from Google searches for booking Oyo rooms, travelling through MakeMyTrip, and buying movie tickets from BookMyShow, etc. to get an insight into consumer demand. Plotting four-week moving averages of these searches on graphs showed that consumption is rising.
Besides travel and movie outings, searches for Oyo rooms also showed some improvement but it was not as sharp.
After April-May of 2020, there was a significant rise in consumer intention to book furniture on Pepperfry throughout the year as people looked to remodel homes, afraid of stepping out.
Similarly, intentions to buy consumer products through Nykaa and Croma picked up pace. Besides, searches for vehicles under the category of onroad price remained resilient last year as well as this year as people prefer personal vehicles instead of public transport.
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