The festive season is the time of the year when Indian consumers tend to spend with abandon. With a no guilt attitude towards splurging, consumers are clearly sending out a message that there is never too much of a good thing during the festivities.
While the roving eye gathers the best deals today's consumer is looking for not just the best deal but the best product suited to him, the best features, and the best brands. He is definitely in a mood to splurge and buy the best. In his quest for the best, he is more influenced by advertisements and peer reviews than in the non-festive season. Online research also plays an important role in purchase decisions in the festive season.
Studies conducted before and during festive seasons reveal:
- Consumers are 12% more likely to spend on expensive brands during the festive season.
- They are 22% more likely to buy brands they see advertised during the festive season, and 18% more likely to be influenced by online reviews.
- An 11% increase is witnessed amongst those who search on the internet for products advertised on TV.
- The tendency to share reviews with friends and peers online increases by 16% during the festive season.