The festive season is about to start in India. And when the festivities are in the air, tech brands also get in to the action to attract consumers by offering a lot of exciting deals. E-commerce sites also make the most of the fervour with their flagship sale events.
Ahead of the season, MySmartPrice, in collaboration with Counterpoint Research, conducted India’s largest festive survey to understand consumer behaviour towards buying smartphones, laptops, tablets, and home appliances. The report – based on the responses from over 12,000 respondents – delves deep into the buying behaviour of a general consumer during the period in the country.
Before even starting with the report, one stat that truly jumped out is the fact that 1 in every 2 respondents are looking to spend more this festive season. And unsurprisingly, the electronic products remain the most popular products during the season. Here’s the entire MSP Festive Buying Survey 2023 for your perusal, but if you are crunched for time, here’s a closer look at the top insights.
Festive Buying Behaviour for Smartphones
Around 50 per cent of respondents look forward to buying a new smartphone in the festive season. Here’re some key takeaways:
- Samsung and Apple are the most desired smartphones to be purchased during the festive season with 19.7 and 17.8 percent popularity respectively.
- iQOO, one of the recently launched brands in India, ranks fourth with 10.2 per cent popularity among prospective buyers.
- Around 24.6 per cent of buyers are ready to spend between Rs 20,000 to Rs 30,000 for a new smartphone during the sale season.
- The budget segment i.e. devices priced between Rs 10,000 to Rs 20,000 ranks at the second place, garnering 22 percent of share.
- 70.8 percent buyers think that discount and deals influence their buying decision.
- Around 63 per cent respondents stated that they need at least a couple of weeks or more to research a smartphone and buy it during the sale season.
Festive Buying Behaviour for Laptops
After smartphones, laptop is the most popular category where buyers are planning to spend their money, with around 17.8 percent respondents in our survey choosing the same. Here are some insights from what consumers are looking for in laptops.
- ASUS ranks at the top among buyers who are planning to purchase a laptop. Around 30.1 percent of the respondents are willing to spend their money on an ASUS laptop in the upcoming festive season.
- HP and Apple are the second and third most popular laptop brands among the buyers with 15.8 and 10.6 percent popularity respectively.
- 26.7 percent of respondents are willing to spend between Rs 50,000 to Rs 80,000 for a new laptop in the upcoming season.
- The Rs 30,000 to Rs 50,000 segment ranked second in terms of popularity with over 25.3 percent of respondents choosing it.
- 68.2 percent of respondents stated that discounts are important and influence them hugely.
- Around 20.5 percent of respondents are looking to buy their first laptop for the first time in the upcoming sale season.
- 45.6 percent of the respondents want to buy a new laptop to get themselves upgraded to the latest technology.
Festive Buying Behaviour for Smart TVs
Around 10.7 percent of the respondents in the MSP Festive Buying Survey 2023 mentioned that they plan to buy a new Smart TV in the upcoming sale season. Here are the key takeaways from the report.
- Samsung is the most demanded Smart TV brand among buyers. Around 27.6 percent of users are planning to buy a new Samsung TV in the festive season.
- LG and Sony follow closely with 18.8 and 16.9 percent popularity, respectively.
- A majority of buyers i.e. 29.1 percent of respondents are planning to buy a new smart TV between Rs 20,000 to Rs 30,000.
- The budget-friendly range i.e. under Rs 20,000 is another potential segment where 26.9 percent of respondents are looking for a new smart TV.
- 7 out of 10 respondents felt that discounts and deals influence their buying decision while buying a new smart TV.
- More than half of all respondents stated that they want to upgrade to a new TV to experience the latest technology.
With the sale season arriving soon, the MSP Festive Survey Report 2023 indicates that buyers are excited about the upcoming sale and most likely are buying a new electronic item. As mentioned in the beginning, since online channels like Amazon and Flipkart have massive deal events like Great Indian Festival and Big Billion Days, they remain the top platforms for buyers to buy a new device.