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Business Economy

Online shopping to see unprecedented boom in post-covid world: Survey

New Delhi, Aug 13 (UNI) A survey conducted by TRA Research, the country's leading consumer insights and brand analytics company, revealed that online shopping is set to see an unprecedented boom in the post-COVID-19 world.
However, the survey predicted that big format stores like Supermarkets, Hypermarkets and Branded outlets are unlikely to see many visitors, while Malls carry a negative sentiment due to tremendous consumer reluctance, despite relaxed norms and promise of better safety.
The company also recently released a whitepaper titled ''TRA's Diwali 2020 Buying Propensity Report,'' gauging the changing buying mindsets and sentiments for the coming Deepawali festival in November, 2020.
According to them, 65 per cent of all consumers expressed a Positive Buying Sentiment, as compared to now, while 28 per cent felt that it would remain the same.
The Apparels category was a positive outlier and had the Highest Buying Priority at 3.11 times the average of all other categories.
Mobile Phones, Consumer Electronics and Two-wheelers were on Very High Consumer Buying Priority, followed by Home Furniture, Jewellery and TVs, which were on High Priority. The survey was conducted with 503 consumer-influencers across 16 cities, between June 9 and July 15, 2020.
Speaking about the report, N Chandramouli, CEO, TRA Research, said, ''Diwali has traditionally been a period of consumption boom as consumers tend to increase spends, and brands scramble to catch their attention.
''This Diwali will be a deciding factor for many brands, as they prepare trepidatiously for the festive season. This report gives a very good view on which will be the preferred categories for Diwali buying.
''This is good news of course, but the pre-COVID consumer spends were already lower on account of a
depressed and strained economy, and a comparison between the consumer household spends between the
two Diwalis of 2019 and 2020, show that this year is likely to see 5.1 per cent lesser spends than the previous
one,'' he added.
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Brigade Group launches its 2nd residential project ‘Brigade Citadel’ in Hyderabad

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Telangana Minister to present FTCCI excellence awards in Hyderabad on Jan 23

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