Indian Consumer Behaviour: Crypto Declines as Shopping, Travel, and Entertainment See Rise in Active Users
MoEngage Study Shows Shopping, Travel, Entertainment Witness Increase in Active Users, Crypto Faces Drop in Users in India
New trends in Indian consumer behavior: Indians are opting for smartphones as the preferred choice for streaming, online shopping and travel bookings
MoEngage, an insight-driven customer engagement platform, analyzed over 1.3 billion consumers to understand the latest consumer trends and behaviors across multiple industries. The 2023 Global Consumer Trends Report aims to find consumer behavior patterns, such as screen time, spending and consumption habits, device preferences, etc. The results show the importance of personalization and omnichannel engagement for customer growth and retention.
Here are some key takeaways from the report:
41.8% of Indians prefer to spend 2-4 hours a day on their screen outside of work
The survey revealed that most Indians spend 2-4 hours on their smartphones and laptops outside of work.
Most Indian consumer spending goes to entertainment and shopping platforms.
The report showed that 49.8% of Indians spent the most on entertainment platforms, including OTT, gaming, dating and lifestyle apps. Next come shopping platforms (32.4%).
68% of Indian shoppers visit a mobile app or website at least 4-5 times before making an online purchase.
Buyers don’t convert right away. The report shows that most consumers need more than three interactions with brands before deciding to buy online. To ensure maximum conversions, brands need to create a solid customer journey that provides a seamless omnichannel experience.
71.4% of Indians prefer to stream music, videos and movies on their smartphones.
Smartphones remain the main device used by Indians to stream music, videos and movies online. Our report also shows that 65% prefer to stream videos and movies daily. Additionally, OTT platforms have seen healthy growth in terms of monthly active users (MAUs).
63.8% of Indians visit banking and fintech platforms at least 2-3 times a week
The report shows that Indians are more active and loyal to banking and fintech platforms than ever. We are seeing a 10% increase in monthly active users (MAUs) for banking platforms and 11% growth in customer loyalty.
75% of Indians prefer getting information on travel plans and bookings from travel apps and mobile websites
The report shows that most Indians prefer travel apps for getting travel information and making reservations on their smartphones, followed by social media. Online travel agent (OTA) platforms saw a surge in active users, with monthly active users (MAUs) increasing by 23%.
“In an ever-changing world, brands can only succeed when they dive deep into consumer preferences and understand customer expectations. Our latest report aims to give Indian brands the latest trends and consumer insights to help them grow sustainably.” said Raviteja Dodda, CEO of MoEngage.
The MoEngage report also highlights:
- Leverage customer insights to drive loyalty and increase LTV.
- Customer acquisition, DAU, MAU and loyalty trends for different industries.
- Concrete strategies to stimulate sustainable growth in a context of economic uncertainty.
A free version of the full report is available here: The 2023 Global Consumer Trends Report.
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