59% LiveMint readers looking to buy 4-wheeler this festive season, says latest report
- Aroscop and Toluna recently partnered with HT Media to conduct an extensive consumer research study, the study focused on gathering insights from readers across HT Media's print and digital platforms
Aroscop and Toluna recently partnered with HT Media to conduct an extensive consumer research study, the study focused on gathering insights from readers across HT Media's print and digital platforms, including LiveMint, Hindustan Times, and LiveHindustan from across the country. The objective was to uncover insights into the festive season shopping preferences of consumers, valuable for marketers and brands launching their festive offers. The research delved into consumer shopping patterns and considered factors that influence their choices this festive season,
A substantial 50% of Hindustan Times print & digital readers and LiveMint visitors intend to buy a car this festive season; with more than 45% of Hindustan Times digital visitors and LiveMint visitors aiming to buy an SUV in the next six months! Amidst the excitement of festive seasons, the SUV trend only grows stronger with each new launch. This approaching season carries the prospect of automakers fixing SUV backlogs and dealers finding a silver lining to dispose of their slow-moving hatchback inventories. Gaurav Vangaal, Associate Director, S&P Global Mobility, emphasizes that this trend is driven by consumer demand for SUVs during the festive season. There's also a surge in interest in two-wheeler purchases, with 40% of Hindustan Times print readers, LiveHindustan, and LiveMint visitors planning such acquisitions.
Customers who spent ₹30,000 on their smartphone 2 or 3 years ago are now looking at around ₹50,000 as a price point for their new phone—or even doubling or tripling their budget, notes Faisal Kawoosa, founder and chief analyst, Techarc. He further adds, "Of late, thanks to multiple Android brands, a mid-premium segment has emerged that is priced at around ₹30,000-40,000.
For these customers, the mind map is that the next upgrade has to scale up in price to ₹50,000 and above. That is what is making us see growth in the price segments of above ₹50,000 for smartphones in India. Festive seasons are also ideal, since Indians look to optimise every spend they make—unlike many other countries. This period will bring in the best of offers, which is why this demand builds up as people wait to upgrade. Nearly 70-75% people who upgrade their previous phones definitely look at the festive season to upgrade their phones, which is what becomes the main demand driver as well."
As for consumer preferences, 40% of readers across Hindustan Times print & digital platforms, and LiveHindustan, are aiming to purchase a smartphone during the festive season, many of them setting budgets exceeding Rs. 50,000. This trend is closely followed by a robust desire to upgrade personal gadgets such as laptops and smartwatches. Additionally, there is a growing interest in enhancing home environments with smart home devices, including televisions, audio accessories, and perennially popular gaming consoles.
Luxury also finds its place in the hearts of Indian consumers, with 50% of LiveMint visitors and more than 40% of Hindustan Times print & digital visitors being the proud owners of luxury products, such as perfumes, watches, bags, apparel, and electronics.
Furthermore, long-term investments like real estate and gold are always on the mind of Indian consumers, corroborated by the fact that, 42% of Hindustan Times' print readers and digital visitors are contemplating real estate investments during the upcoming festive season, allocating significant budgets for this purpose. 50% of Hindustan Times' print readers also shared that they are looking to purchase jewellery in the next six months, with a striking 87% of them specifying a preference for gold jewellery.
In terms of financial investment vehicles, a remarkable 52% of LiveMint visitors are gearing up to invest more than 25 Lakhs in assets such as the stock market, mutual funds, gold, FDs, and bonds. Notably, the research shows that LiveMint visitors prefer to manage their portfolios independently, with a resounding 88% choosing this self-reliant approach. Additionally, a significant 41% of LiveMint visitors are equipped with credit cards, indicating their financial readiness.
Download the full report here
About Toluna
Toluna is a leading global consumer intelligence platform, with operations in 70+ markets and access to 40.1 million diverse consumer respondents worldwide. It's a valuable resource for businesses, engaging 3.2 million consumers in India and adding 35,000 new members daily.
About Aroscop
Aroscop, a data-driven marketing and advertising solution in 12 countries, handles 4 billion daily ad requests. Their Ask1 platform is equipped with 400+ pre-built segments, and can launch nationwide studies in 48 hours, supporting 10+ languages for authentic responses.
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Business NewsAuto News59% LiveMint readers looking to buy 4-wheeler this festive season, says latest report
First Published:4 Oct 2023, 02:52 PM IST
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