29% consumers view internet searches as primary sources for product information: Survey

The overall household spending in June increased for 56 per cent of the Indian families, a new survey has found. According to the survey, spends on essentials like personal care and household items has increased for 31 per cent of the families while spends on non-essential and discretionary products like AC, car, and refrigerators have increased for 5 per cent of families.

"Essential spends continue to increase majorly for the rural segment of the consumers (32 per cent) and among 18-25-year-olds (38 per cent)," the Axis My India July Consumer Sentiment Index (CSI) Survey highlighted.

The survey also pointed that expenses towards health-related items such as vitamins, tests, healthy food has surged for 30 per cent of the families. Health-related products consumption increased more for rural segment of the consumers (31 per cent), among females (30 per cent) and those within the age group of 26-35-year-olds (34 per cent).

The survey was carried out with a sample size of 5,072 people across 35 states and UTs. 67 per cent belonged to rural India, while 33 per cent belonged to urban counterparts.

It further highlighted that consumption of media (TV, internet, radio) has increased for 18 per cent of the Indian families and added that mobility has increased for 8 per cent of the families.

Axis My India CSI survey aimed to understand the primary platform that consumers rely on to stay updated with the latest news. As per the findings, TV news channels are the primary news source for 44 per cent of respondents, followed by social media (23 per cent) and YouTube education or news channels (18 per cent). Newspapers accounted for only 14 per cent of news consumption, while YouTube Shorts had 7 per cent.

When seeking information about products consumers intend to buy, respondents in the Axis My India survey relied on various sources. The primary sources of information were shopkeepers and local markets (36 per cent), followed closely by internet searches (29 per cent), indicating the significance of both traditional and digital channels. A notable 19 per cent of respondents preferred seeking advice from friends, colleagues, or neighbours, highlighting the continued influence of word-of-mouth recommendations in purchase decisions.

The survey further unveiled a diverse range of online shopping habits among consumers, with a sizable portion yet to adopt e-commerce as their preferred mode of shopping. A significant 64 per cent stated they never shop online. However, 11 per cent do online shopping once a month, and 7 per cent do so once in 6 months to 1 year.

Additionally, 6 per cent shopped online once in the last 6 months, and another 6 per cent did so more than once in the last month. Only 3 per cent shopped online more than once in the last 6 months, while a mere 2 per cent engaged in online shopping almost every week.

The emphasis on local markets and internet searches as primary sources of information showcases the importance of traditional and digital channels alike, Pradeep Gupta, Chairman and MD, Axis My India, said.

"Furthermore, the diverse online shopping habits, particularly among the tech-savvy 18-25-year-olds, signal a need for retailers to embrace e-commerce while ensuring personalized experiences. As we witness this transformation, understanding consumer preferences becomes paramount in curating innovative offerings that cater to their evolving needs," he added.  

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