Dramatic rise in online shopping amid second wave of COVID-19: Accenture Survey
COVID-19 pandemic has evolved people’s shopping habits for the long haul, with thousands across the world turning to online shopping. A recent survey by Accenture highlights that the pandemic has prompted infrequent e-commerce shoppers in India to shop online more actively.
Accenture believes the dramatic rise in e-commerce adoption, in India, is likely to remain at current levels or accelerate. “For instance, the proportion of online purchases for products such as food, home décor, fashion and luxury goods by previously infrequent e-commerce users, defined as those who used online channels for less than 25% of purchases prior to the outbreak, has increased 667% since the outbreak in India,” it said. “Majority of those survey surveyed (98%) said the pandemic is set to bring one significant change to their lifestyle. This could be brought about by higher instances of work from home, a shift in travel behavior and the need to shop locally.” The survey points out that this will have bearings on consumer companies who need to rethink how they cater to the pandemic-adapted consumer.
Anurag Gupta, managing director and lead, strategy and consulting, Accenture in India, said the past year has been a tough one for consumers and consumer-facing industries. “Evolving consumer preferences and behaviors have led to a huge demand fluctuation, making it imperative for consumer goods and retail companies to stay agile and resilient. As companies shift from reaction to reinvention, they need to harness digital’s full potential across the value chain at speed and scale.”
Also Read: Right interventions and policies could help India decarbonize public transport
The survey also observed that the pandemic forced a rapid shift to employees working from home, with many expressing that they want flexibility in how and where they work moving forward. “Many more 87% of respondents in India said they would like to occasionally work from a third space, a location other than their home or place of employment. This highlights a potential opportunity to grow revenue for the hospitality and retail industries.”
Pingback: Healthy FDI inflow corroborates India's status as preferred investment destination: CII | The Plunge Daily
Pingback: Aisle, India’s second most downloaded dating app and the market leader in high intent dating, has introduced “Settle Down” feature for its users.