Urban India likely to spend Rs 1.85 trillion during festive sales: Survey

70% of urban Indian household surveyed likely to use stores and market for shopping

According to a survey, one in two Indian households surveyed will spend over Rs 10,000 this festive season. The report by LocalCircles also said that almost 70 per cent of buyers will prefer to shop from shops and markets rather than online.

The survey is based on the responses of 49,000 households from 342 urban districts of India. Forty-four per cent of respondents were from Tier-I, 34 per cent from Tier-II, and 22 per cent from Tier-III, IV, and V districts.

1 in 2 households surveyed will spend over Rs 10,000 this festive season:

- 4 per cent will spend Rs 100,000 or more

- 18 per cent will spend between Rs 20,000 and Rs 50,000

- 26 per cent will spend between Rs 10,000 and Rs 20,000

- 14 per cent will spend between Rs 5,000 and Rs 10,000

- 8 per cent will spend up to Rs 2,000

- 26 per cent have no plans to spend

India has approximately 80 million urban households, and if the averages of the above categories are applied to them, urban India is likely to spend Rs 1.85 lakh crore or $22 billion during the festive season 2024.

How and where are they planning to shop?

- 70 per cent of urban households will likely use shops and markets as the primary channel

- 13 per cent are likely to use e-commerce

What is important while shopping?

- 46 per cent: Budget/value

- 43 per cent: Quality of products

- 8 per cent: Selection or range

- 3 per cent: Convenience

What are the categories being spent on?

- 70 per cent: Pooja/Diwali supplies (diyas, lamps, candles, lighting, etc)

- 64 per cent: Festival grocery

- 38 per cent: Beauty and fashion

- 40 per cent: Home décor

- 22 per cent: Smartphones and consumer electronics

- 18 per cent: White goods and appliances

- 4 per cent: Jewellery (diamond, gold, silver, etc)

- 4 per cent: Automobile