Growth in consumer intent, actions during festive seasons: Report
Digital touch-points in the consumers journey have gained increased prominence, contributed to in-store engagement, and consequently, businesses have flourished with deeper consumer associations established through such touch-points.
With the widespread use of diverse digital platforms, today’s consumer behaviour has changed considerably. According to a report, almost 74 per cent of consumers’ actions depends on the internet. Consequently, with the festive season back in full swing after almost two years, consumers are ready to purchase their desired products.
According to Tarun Sobhani - Founder & CEO, SingleInterface - the impact of the pandemic has diminished considerably, and consumers have once again displayed a growing purchase intent, as omnichannel approaches continue to rise.
"Interestingly, it was during the pandemic that new trends in consumer decision-making and purchases were observed. This further influenced festive buying and encouraged brands to pay closer attention to digital infrastructure," Sobhani added.
Digital touch-points in the consumer's journey have gained increased prominence, contributed to in-store engagement, and consequently, businesses have flourished with deeper consumer associations established through such touch-points.
"Consumer behaviour has had significant digital momentuzem this festive season. According to our data labs, digital 'Searches' across categories have seen a Y-o-Y growth of 111 per cent," Sobhani said.
The intent to make a purchase during festive sales is supported by reading reviews online for the products (which has seen an overall increase in 234 per cent) and finally looking offline or online to buy which is supported by clicks to calls rates and calls to directions which has seen a tremendous year on year growth of 34 per cent and 103 per cent respectively.
Some more data by SingleInterface shows that Fashion & Lifestyle has seen a Y-o-Y growth of 96 per cent in digital 'Searches'.
When it comes to Consumer Durables, digital 'Searches' have risen by 74 per cent this festive season as compared to the one last year.
"These figures clearly indicate that the consumer's desire to make purchases this time around, has been high. And with increasing options to choose from, consumers are finding it beneficial to start their journey through digital touchpoints to understand brands better, which in several cases has led to physical activities. This is something brands have found and will continue to find lucrative," he added.
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