new ways of shopping
The shopping habits of common consumers in India have now completely changed. According to a new report released by Deloitte India, Indians are now preferring high quality products over cheap goods. With rising incomes and confidence, consumers are now adopting the philosophy of ‘buy less but buy well’. The report states that the economic situation score in India has increased from 109.1 last year to 111.1, which is better than other countries. Consumers have now become more cautious to avoid unnecessary expenses and prefer to spend only on essential items and high-quality amenities.
focus on food wastage
Now special attention is being given to preventing wastage of ration and food items. According to a Deloitte report, about 31 percent of people are cautious to avoid food wastage. This doesn’t mean that people are eating less; In fact, only 11 percent of people buy fewer items. People are now choosing fewer but higher quality products, instead of buying poor quality goods. Moreover, about 15 per cent of consumers are preferring supermarket own brands rather than expensive brands as these goods offer better quality at lower prices.
Comfort priority during travel
The preferences of Indian consumers have also changed when it comes to holidays and travel. According to statistics, the number of people traveling has declined by 7 percent after the festivals, but those who are travelling, do not want to compromise on comfort. People are now spending more on better amenities while travelling, leaving aside cheaper options. Choosing good flights, upgrading seats and staying in luxurious hotels has now become their priority.
Increasing popularity of electric vehicles
Indians are now taking more thoughtful decisions when it comes to buying a new car, due to which the car buying score has reached 85.2. About 43 percent people believe that their old car is still in good condition, so they do not want to make a big expense suddenly. At the same time, 12 percent people are avoiding big expenses in view of the market situation. Meanwhile, increasing interest is being seen among people towards electric vehicles. 6 out of every 10 people are now planning to buy an electric vehicle as a new vehicle, because they have modern features and are also less expensive to maintain.
Prudence in budget management
About 73 percent of Indians believe that prices of goods may increase further in the future. Amidst this inflation fear, people are managing their budget wisely. They are trying to buy high quality and sturdy goods for less money, while avoiding unnecessary expenses, so that they can get full value for their money.
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