As the excitement of the ICC ODI Cricket World Cup 2023 reverberates across India, Axis My India reveals a blend of modern and traditional media consumption trends through its latest Consumer Sentiment Index (CSI) report. With India leading the table, a robust 67% of respondents plan to watch the matches, and 26% are particularly looking forward to the crucial final games. Amidst the cricket frenzy, the report sheds light on the advertising game, festive shopping inclinations, and how households are navigating their spending amidst evolving market dynamics.
A significant 57% of cricket enthusiasts are flocking to online mobile streaming platforms like Hotstar to catch the live action. Meanwhile, traditional Linear TV/DTH channels are still a popular choice, catering to 49% of respondents. Emerging tech finds its foot too, with 8% streaming the matches on connected television sets using gadgets like Fire Stick TV and Chromecast.
The advertisement battlefield saw several brands hitting a sixer. Mobile brand Oppo led the charge with 16% of respondents recalling their ads, closely followed by other brands like Thums Up, Pepsi, and Havells. The fantasy sports platform Dream11 also made a notable impression, engaging 12% of the audience with its promotional content.
As the festive season coincides with the cricket gala, consumer spending trends exhibit a noteworthy narrative. The survey explores shopping preferences and budgets for the upcoming festivities. A notable chunk, 25% of respondents, is keen on shopping more compared to the previous year. Budget-wise, 56% plan to keep their shopping under Rs 5000, while a lavish 1% is ready to splurge over Rs 2,00,000.
The festive shopping spectrum spans from clothing and apparel to high-value items like electronics, home appliances, and luxury goods. A significant 67% eye clothes/apparel, while 13% and 12% are inclined towards mobile phones and home appliances respectively. Additionally, 5% of respondents are planning to buy a 4-wheeler, marking a blend of essential and luxury spending.
Local retail stores remain a favorite shopping destination for 82% of respondents, reflecting a strong sentiment towards supporting local enterprises. The e-commerce platforms, popularized by festive promotions, entice 10% of shoppers, while brand-specific physical stores are preferred by 8%.
Payment preferences during festive shopping showcase a blend of tradition and modernity. A whopping 79% favor cash transactions, reflecting the timeless charm of tangibility. However, 16% are embracing digital wallets, and 5% opt for debit/credit cards and online banking, indicating a gradual shift towards digital transactions.
Diwali, synonymous with prosperity, often sees employers distributing salary bonuses, enabling employees to indulge in the festive spirit. The survey reveals 19% of respondents are on the receiving end of this tradition, adding a sweet note to the festive shopping narrative.
Commenting on the CSI report, Pradeep Gupta, Chairman & MD, of Axis My India, illuminated on the blend of viewing and shopping trends. He noted the unshaken charm of conventional cable/DTH amidst the digital surge and highlighted the intriguing interplay between cricket, advertising, and consumer spending in a nation deeply invested in the sport.
The CSI report sums up the pulse of the nation amidst cricketing and festive fervor, provides a compelling insight into India’s evolving consumer landscape. Through telephonic interviews encompassing 4,980 participants from across the country, the analysis highlights how India is tuning into the ICC ODI World Cup 2023, both on the field and off it, while also navigating the festive shopping spree with a mix of tradition and modernity.
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