India prioritised vehicle purchases over electronic and luxury items in 2022
The latest findings of Axis My India suggested that getting a new 4-wheeler or 2-wheeler was a preferred choice over buying electronic appliances, new shoes, phones, luxury items or any home decoration product in 2022 end.
As much as 13 percent of India ended 2022 by prioritising a new vehicle purchase, according to a recent survey conducted by consumer data intelligence company Axis My India in January. This comes at a time when passenger and electronic vehicle sales have picked up in the last few months and currently only two-wheeler sales have been seen struggling.
The survey in fact found that vehicle sales ( both 4-wheeler or 2-wheeler) only lost out to apparel purchases overall and it managed to beat purchase preference over buying electronic appliances, new shoes, phones, luxury items or any home decoration product.
It is noteworthy here that the findings are based on a survey of 10,019 people across India, of which 70 percent are from rural areas and the rest of the 30 percent are from urban areas.
Product Category Preference
When it came to product category, most Indians when asked about the year's end-of-season sale, stated that they would purchase new clothes. This was 38 percent of respondents' top preference to purchase in 2022’s end-of-season sale.
When replying to their preference for e-commerce platforms, Flipkart, Amazon and Meesho were the most used sites with 49 percent, 24 percent and 15 percent respectively according to respondents.
The survey also revealed that around half of the respondents have faced high household expenses amid rising costs of products & services due to inflation.
Around 12 percent of the respondents said that they would get electronic appliances like a fridge, television, desktop PC, laptops and air conditioners among others, while 7 percent suggested a new phone.
What Indians prefered to purchase in 2022’s end-of-season sale | |
| Options | % |
| Clothes | 38 |
| 4 wheler/2 wheeler | 13 |
| Electronic appliances | 12 |
| Shoes | 9 |
| Phones (feature/smart) | 7 |
| Luxury items | 5 |
| Home decoration | 4 |
| Other | 12 |
Source: Axis My India January CSI Survey |
Luxury Items Not On Priority?
Interestingly, nine percent of the surveyed claimed to buy themselves a new pair of shoes during the end-of-year sale. However, luxury items like jewellery, ornaments and glasses were the second least preferred category of products with only five percent of people looking to purchase such items during the end-of-season sale.
Home decoration items, on the other hand, were the least preferred product category with only four percent intending to spend on this during the end of 2022. Around 12 percent of the respondents went with other options.
(Edited by : Abhishek Jha)
First Published: Jan 4, 2023 2:41 PM IST
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