Indian shoppers to boost spending by 14% this festive season: Survey

The second edition of the Disney+ Hotstar festive shopping sentiment survey found nine in 10 consumers express a positive shopping sentiment for the upcoming festive season.

As cricket fever grips the nation with only days to go to the Asia Cup followed by the ICC Men’s Cricket World Cup 2023, the second edition of the Disney+ Hotstar Festive Shopping Sentiment Survey has found that shoppers this festive season are likely to increase their spending by 14% over last year, driven by a 12% increase in the size of their shopping baskets.

Coinciding with India’s biggest festive season, both the Asia Cup and The ICC Men’s Cricket World Cup 2023 will provide marketers with the best opportunity to leverage the cricketing properties and influence the positive spending sentiment observed in the survey. Additionally, the platform has lifted its paywall for mobile and tablet-only viewers for both tournaments, thus democratizing the game for more than 540 million smartphone users across the country.

The free streaming of the two widely watched sporting events will enable a lucrative avenue for marketers to make a mark in consumers’ minds before the festive season. As per the survey, nine in 10 consumers expressed a healthy appetite to spend for the upcoming season. With an average budget of Rs. 17K, shoppers are predicted to boost their spending by 14% compared to the previous year.

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This will be fuelled by a 12% rise in shopping basket size, with the most popular categories being clothes, mobile phones, and health and beauty. Festive bonanzas, such as brand and cashback incentives, discounts, and other promotions, can influence customer mindsets even more. 

The survey also found that consumer spending is expected to be heavily influenced by online ads. It is prone to sway towards online shopping, with 60% of consumers discovering brands and services through online platforms as they shop for themselves and for gifting purposes. Accompanying the online shopping sentiments of seven out of 10 shoppers, digital payment options also recorded a 36% preference, with UPI in the lead.

Ajit Varghese, Head of Network - Ad Sales, Disney Star said, “With the upcoming Asia Cup 2023 and ICC Men's Cricket World Cup 2023 being free-to-view to all mobile phone users, Disney+ Hotstar is poised to become the prime digital platform for marketers. This especially holds true for the Cricket World Cup, which returns home after a hiatus of 12 years, right before the peak festive season kicks in. Safe to say that all eyes are going to be on the action on the ground, making it a once-in-a-decade opportunity for brands looking to make the most out of the festive fervour amongst consumers.”