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Next 6 to 7 Months Will Be for Online Shopping, Says 64% Indian Consumers

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The report said that prior to the pandemic, around 57% people preferred online shopping and the rate in the current lockdown situation stands at 46%.

Further, in next 6-9 months, consumers in the country would decrease their shopping at physical retail stores and around 46% of Indian will shop at physical retail stores compared to 59% who did before the pandemic.

Around 72% of Indian consumers will prefer to purchase from retailers which will offer delivery assurance as well as assurance of compensation for future cancellations and 74% of Indian consumers will prefer to purchase from retailers offering delivery at flexible timing, it said.

Globally, the survey found that 59% of consumers had high levels of interaction with physical stores before Covid-19, but today less than a quarter see themselves in that high-interaction category.

In next 6-9 months, 39% of consumers expect a high level of interaction with physical stores. The report said that the Covid-19 pandemic has forced the consumer products and retail industry to review its core markets and operating model.

The sector has had to reassess consumer preferences and behaviour in an era of great uncertainty and consumer nervousness about the economy and their own future. “We are seeing a pattern shift in the way we consume and think about consumption, leading to a change in buying behaviour.

And many of these behavioural changes may turn out to be permanent. At the same time, supply chains have received a significant shock and we have seen unprecedented demand for – and mass stockouts of – essential items,” said the report.

SMEStreet Desk

SMEStreet is fast growing platform dedicated to entrepreneurs from small and medium sized businesses (SMEs). Committed to facilitate Knowledge & Networking for Business Growth, SMEStreet offers value added content which shows the actual voice of Indian MSMEs.

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