The MSPI Festival Shopping Survey 2023 report for electronic products is here, offering you an insightful look into how sales seasons impact consumer behavior.
As the festive season is about to kick off in India, tech brands are getting active by offering exciting deals to attract consumers. E-commerce platforms are also reaping maximum benefits from their major sales events.
Before diving into the full MSPI Festival Shopping Survey 2023, let’s take a quick peek at the key highlights.
**Shopping Behavior for Smartphones**
Approximately 50% of respondents are eager to buy a new smartphone during the festive season. Here are some key findings:
– Samsung and Apple are the most preferred smartphone brands, with 19.7% and 17.8% popularity respectively during the festive season.
– Among recently launched brands in India, iQOO holds the fourth position with 10.2% popularity among potential buyers.
– About 24.6% of shoppers are ready to spend between INR 20,000 to INR 30,000 on a new smartphone this sale season.
– Budget smartphones in the INR 10,000 to INR 20,000 range occupy the second spot with a 22% share of popularity.
– A whopping 70.8% of buyers believe that discounts and deals significantly influence their purchasing decisions.
– Nearly 63% of respondents prefer researching smartphones and waiting for sales before making their purchase, with a minimum lead time of a few weeks.
**Shopping Behavior for Laptops**
After smartphones, laptops are the most sought-after category for spending during the festive season, with approximately 17.8% of respondents choosing them. Here are the key insights:
– ASUS ranks first in the laptop category, with around 30.1% of respondents willing to invest in ASUS laptops during the upcoming festive season.
– HP and Apple hold the second and third positions, with 15.8% and 10.6% popularity among laptop buyers, respectively.
– About 26.7% of buyers are ready to spend between INR 50,000 to INR 80,000 on a new laptop in the upcoming season.
– The INR 30,000 to INR 50,000 segment is the second most popular, with 25.3% of respondents choosing this range.
– A significant 68.2% of buyers consider discounts crucial in their laptop buying decisions.
– Approximately 20.5% of respondents plan to buy their first laptop during the upcoming sale season.
– 45.6% of buyers are looking to upgrade to the latest technology by purchasing a new laptop.
**Shopping Behavior for Smart TVs**
In the MSPI Festival Shopping Survey 2023, around 10.7% of respondents expressed their plans to buy a new smart TV in the upcoming sale season. Here are the highlights:
– Samsung is the most demanded smart TV brand, with around 27.6% of users planning to buy a new Samsung TV during the festive season.
– LG and Sony hold the second and third positions with 18.8% and 16.9% popularity among TV buyers, respectively.
– A majority of shoppers, 29.1%, plan to spend between INR 20,000 to INR 30,000 on a new smart TV.
– The budget-friendly segment, below INR 20,000, is another potential area with 26.9% of respondents seeking a new smart TV.
– Seven out of ten respondents feel that discounts and deals significantly impact their buying decisions.
– More than half of the respondents want to upgrade to the latest technology with a new TV.
With the sales season just around the corner, the MSPI Festival Shopping Survey 2023 hints at an excited buyer base ready to potentially buy new electronic items.
As mentioned earlier, since online channels like Amazon and Flipkart host large-scale sale events like the Great Indian Festival and Big Billion Days, they have become top destinations for buyers looking to purchase new devices.”