The “Bharat Lab_Festive Report 2024” comprises the details of consumer behavior and their preferences during the festive time. The document covers various perspectives such as budget inclination, choice preference by gender, environmental awareness and sensitivity and various factors which play an influential role. This encouraging report provides an overview of changes in the pattern of what consumers require during the festive season.
The report starts off by pointing out the percentage of individuals willing to invest during festive time and while doing this the results have showed that men who are inclined to invest are 55.56% as compared to percentage of women 43.86%. It also expands on the decision to spend during festivities via peers and families, customs, traditions, and promotions as a motivator. However, as many as 68% of respondents predicted a decrease in spending, but 30.75% stated that their spending would be between 25-50% up which was a positive attitude to festive season expenditure.
Consumers appear to have gender specific preferences for home décor products, electronic, fashion accessories, and confectionery /sugar products. According to this report there is a higher likelihood of women buying home decor and at the same time electronics and fashion products also have different interests from the two genders. However, sweets and snacks form the common area of interest that does not distinguish between males and females.
It also hashes details on income-consumption pattern, furniture and paints are conspicuously preferred by the high-income income earners. Inflation is also presented among the factors that affect the buying behavior and 80.66% of the buyers agreed that inflation has affected their spending. This realization points to the economical characteristics that influence consumers’ behavior during the period of celebrations.
Paying attention to the environment is another striking factor for electronics buyers; 81.13% said they tend to purchase environmentally friendly and sustainable electronics products. Additionally, other factors and conditions, including air pollution, are essential for 83.36 percent of consumers to be used in spending for the purpose of shifting towards green purchasing. A significant message of the report is that sustainable consumption, especially during the festive season, is increasingly becoming a major factor.
The impact that advertising and promotions make to consumers’ behaviour is also another vital area, discussed in the report. Car TV and press ad remain dominant, dictating more than a seventy-five percent of the buyers who spend beyond a given figure. Social networks and web commercials are also important for consumers’ decisions, thus marking the role of net media influencing festive consumption.
The document also describes certain categories of products including jewelry and new cars. It establishes that jewelry has cultural value as 48.13% participants claimed they will buy the item during the festive period. Also, the survey reveals that a large number of visitors intend to buy higher ticket items such as the four-wheelers, luxury cars, and two-wheelers that represent a broad spectrum of end customer purchasing behavior during the festival season.
The brochure “Bharat Lab_Festive Report 2024” can be useful and helpful for companies and marketers in terms of analyzing people’s behavior and choices during the celebration period. The breakdown of spending by category, segmentation by gender, global eco-friendliness concern, and factors influencing the overall spending provide clear guidance to businesses to better design their marketing strategy and their products accordingly.
As such, the report avails a summary of consumer behavior and trends focusing on the festive seasons with time with an emphasis on shifts likely to impact spending. In terms of content, the “Bharat Lab_Festive Report 2024” provides many insightful information to help business and other concerned industries to understand the consumer behaviour and patterns during the festive season.
The following are the findings of the report that give some information about the consumer behavior during the festive season: It defines an increasing interest in buying sustainable clothing products as consumers improve their awareness of environmental matters. Lastly, the report focuses on the effects that inflation has on spending and the high level of engagement that is seen with investment products during the festive season. In the same manner, it also includes information on the shoppers’ characteristics, preferences given to genders and how external factors affects spending behaviors. The document also contains information on the factors that customers use in making their purchase decisions and factors that influence spending during the festive season.
80.The study also reveals that 70% of fashion buyers are environmentally sensitive during the festive season and therefore, a trend towards more sustainable fashion is important. Further, it is seen that for every kind of fashion product, 25% of the buyers are concerned with sustainability suggesting that there is a rising sentiment towards green fashion during festive season.
While exploring the festive shopping choice factors, those consumers worrying about environment, show that the major factors are social media and TV and Press ads. According to the recent findings concerning perceptions of the importance of environmental questions, percentages of those who named primary influential sources reaches, respectively, 90% in social media and 90% in TV and press advertisements. This means that these channels are important in the determination of consumer behavioural intentions and their pro-environmental tendencies during the festive season.
In the report the main gender-based preferences in gift selection are as follows:
- *Home Decor*: About buying home decor, females (73.31%) are slightly more willing than males (68.75%). In houses, torans and wallpaper are more preferred by females than men, but carpets and wall hangings are bought only by men.
- *Electronics*: Another distribution by buyer gender reveals that female buyers’ contribution accounts for 50% of the electronics category thus pointing towards the fact that women more prefer electronic goods.
- *Fashion Items*: Purchases of fashion items can be seen to be led by the male gender with 33.33% showing that there are gender preferences with regard to gift buying.
- *Sweets/Snacks*: Biscuits and sweets are selected by 42,97% of buyers – this type of gift does not signify any preference to either male or female clients.
These findings therefore give a clear perception on gender-oriented preferences in choice of festive season gifts in diverse categories.
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