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Driven by UPI-based transactions, about 81 per cent of consumers intend to shop online during this festive season in India, while one in two consumers are willing to increase their spending compared to last year, a new survey report showed on Monday. Digital payment methods are on the rise, with 42 per cent of consumers saying they will choose unified payments interface (<keyword id="6358921" type="General" weightage="80" keywordseo="upi" source="Orion">UPI</keyword>)-for online festive shopping. In addition, 57 per cent indicated that their preferred digital payment method for earning rewards and cashback is UPI, especially during the festive season. About 75 per cent are interested in buying electronic gadgets and products (smartphones, TVs, refrigerators and ACs), luxury and authentic beauty brands, home furnishing/improvement items and consumables, online, according to the report by <keyword id="17495816" type="General" weightage="50" keywordseo="nielsen-media-india" source="Orion">Nielsen Media India</keyword>, on behalf of Amazon India. The survey said that 87 per cent of consumers in metropolitan cities and 86 per cent across tier-2 cities (population 10-40 lakh) prefer to shop online for the festive period. "We are inspired to learn that consumers this year are excited and willing to spend and shop more online. As a marketplace, we are confident that the 'Amazon Great India Festival 2023' will offer a seamless shopping experience, incredible value and the widest selection of domestic and international brands and products," said Manish Tiwary, Country Manager India Consumer Business, Amazon India. More than 70 per cent of consumers wait for online festive shopping events to purchase electronic items. Over 75 per cent of consumers are excited with attractive bank offers and no-cost EMIs for making their purchase more convenient and rewarding, said the report. Around 80 per cent consumers said online festive shopping events provide access to trendy brands for apparel, footwear, and various fashion accessories with nearly 64 per cent sharing their intent to purchase across these categories this festive season. Driven by about 140 million shoppers, India is likely to witness Rs 90,000 crore worth of online gross merchandise value (GMV) in the festive month this year. This is up 18-20 per cent from last year's festive month sales, according to a recent report by market research firm Redseer Strategy Consultants. SEE ALSO:<a href="https://www.businessinsider.in/sports/news/shubman-gill-becomes-the-fastest-indian-to-score-six-odi-centuries/slidelist/103928533.cms" target="_blank"></a> <a href="https://www.businessinsider.in/sports/news/shubman-gill-becomes-the-fastest-indian-to-score-six-odi-centuries/slidelist/103928533.cms" target="_blank">Shubman Gill becomes fastest to score six ODI centuries for India by a mile</a><a href="https://www.businessinsider.in/tech/mobile/news/pixel-8-launch-on-oct-4-from-camera-to-design-specifications-what-we-know-so-far/articleshow/103924696.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/pixel-8-launch-on-oct-4-from-camera-to-design-specifications-what-we-know-so-far/articleshow/103924696.cms" target="_blank">Pixel 8 launch on Oct 4 – From camera to design specifications, what we know so far</a><a href="https://www.businessinsider.in/stock-market/news/yatra-online-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/103922162.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/yatra-online-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/103922162.cms" target="_blank">Yatra Online IPO allotment – how to check allotment, GMP, listing date and more</a>

UPI set to drive festive sales this year, electronics to be top choice again: Report

Consumer spending in India is soaring during the festive season, with people splurging on cars, smartphones, TVs and other items, boosting the country's economic growth, media reports said. Sales at e-commerce platforms like <keyword id="18635" type="General" weightage="80" keywordseo="amazon" source="Orion">Amazon</keyword> and <keyword id="6354742" type="General" weightage="80" keywordseo="flipkart" source="Orion">Flipkart</keyword> surged by almost a fifth in the first week of the festive season, compared to the same period last year. Digital payments made via Unified Payments Interface (<keyword id="6358921" type="General" weightage="100" keywordseo="upi" source="Orion">UPI</keyword>) also increased by 40# in October from a year earlier. Economists see easing inflation and rising wages, especially in rural areas. Consumer confidence hit a four-year high in September, according to the latest figures by the central bank, and demand for bank loans is near a 12-year high despite interest rate hikes this year. According to the International Monetary Fund (IMF), India's GDP will grow at the fastest rate among major economies in 2023 and 2024, at 6.3% in both years. Aside from the festive season, the Cricket World Cup and the forthcoming wedding season are likely to boost consumption. Online sales from Amazon, Flipkart and others reached 47 billion rupees ($565 million) in the week through October 15, said the report by the market research firm Redseer Strategy Consultants. High average selling price (ASP) items such as mobiles, electronics and large appliances emerged as the largest contributor to the sales, driving 67# of the total sales, it mentioned. Flipkart Group continued to assert its leadership in week 1 of the festive season sale, further gaining market share over last year's sales to reach 63# in terms of Gross merchandise value (GMV). Amazon, Flipkart, Myntra and others began the festive season sales from October 7 which is expected to reach Rs 90,000 crore worth of online GMV in the festive month -- up 18-20# from last year's festive month sales.

Indians spent big on festive season sales, UPI transaction up 40% in Oct: Report

Nalin Bansal, Chief Relationship Management at the National <keyword id="20242630" type="General" weightage="20" keywordseo="payments" source="keywords">Payments</keyword> Corporation of India (<keyword id="19998946" type="General" weightage="20" keywordseo="NPCI" source="keywords">NPCI</keyword>), speaking at the Global Fintech Festival 2024 on Wednesday, emphasized that only 25 per cent of payment users are <keyword id="19900675" type="General" weightage="20" keywordseo="women" source="keywords">women</keyword>, with even lower penetration in semi-urban and rural areas. "While we've achieved significant scale in <keyword id="20377974" type="General" weightage="20" keywordseo="financial-inclusion" source="keywords">financial inclusion</keyword>, penetration remains a challenge, with only 25% of payment users being women, and even fewer in semi-urban and rural areas. Many women's mobile numbers are not linked to their bank accounts, hindering their participation," Bansal said. He added, "Yet, data shows women are 50% less prone to fraud and are highly loyal and engaged users. As an ecosystem, we must prioritize personalized, assisted services and continuous engagement across all channels. UPI123 has made strides, especially for initiatives like Ujjwala, and prepaid instruments hold promise as a 'secret purse' for women. Building trust is crucial, and it is our collective responsibility to foster it." Women are more likely to adopt <keyword id="20853683" type="General" weightage="100" keywordseo="digital-financial-services" source="keywords">digital financial services</keyword> when introduced by local agents or <keyword id="22950816" type="General" weightage="20" keywordseo="community-influencers" source="keywords">community influencers</keyword>, particularly women who can help them overcome social and technological barriers. Women who make at least five <keyword id="19971375" type="General" weightage="20" keywordseo="transactions" source="keywords">transactions</keyword> in the first week of onboarding are twice as likely to continue using <keyword id="19900911" type="General" weightage="20" keywordseo="UPI" source="keywords">UPI</keyword>. This highlights the need for financial service providers to rethink in-app nudges and sales metrics to encourage consistent usage. 93 per cent of women surveyed expressed the need for ongoing support during the first three months of using digital payments, particularly for grievance redressal during failed transactions. Kalpana Ajayan, Regional Head - South Asia, Women's World Banking, said, "We recognize that digital payments can serve as a powerful tool for women, enabling them to manage their finances more effectively, access a broader range of services, and ultimately secure a better future for themselves and their families." She added, "By addressing the specific barriers that women face in adopting digital payments, we open up a new frontier for growth. This initiative is about much more than inclusion--it's about positioning women as key drivers in the digital financial ecosystem." The NPCI's UPI platform has already revolutionized India's payment landscape, with UPI transactions soaring from Rs 920 million (USD 11.08 million) in FY 2017-18 to Rs 83750 million (USD 1.01 billion) in FY 2022-23, reflecting a staggering CAGR of 147 per cent. The value of UPI transactions reached INR 80.79 trillion (USD 96,287) across approximately 55.66 billion transactions in the first four months of FY 2024-25. Of the 536 million women aged 15 years and older in India, 37 per cent report using mobile internet, making the addressable market for UPI solutions among women around 200 million strong.

Women are more likely to adopt digital financial services when introduced by local agents or women community influencers

<keyword id="819997" type="General" weightage="20" keywordseo="iphone-sales" source="Orion">iPhone sales</keyword> crossed 1.5 million units during the first week of festive sales in India for the first time ever, registering more than 25 per cent growth (year-on-year), a report showed on Friday. The festive season smartphone sales grew 25 per cent (on-year) in value in the first week (October 8-15) driven by strong demand for Samsung, <keyword id="6354427" type="General" weightage="20" keywordseo="apple" source="Orion">Apple</keyword> and Xiaomi devices, according to Counterpoint Research. Online channels, which experienced slow demand throughout the year, registered a bigger-than-expected surge in demand, prompting them to raise prices from the third day of the sales week. Around 80 per cent of phones sold on Amazon and Flipkart during first 48 hours were 5G capable. On Flipkart, the premium segment growth was almost 50 per cent YoY driven by the <keyword id="6354606" type="General" weightage="20" keywordseo="iphone" source="Orion">iPhone</keyword> 14 and Galaxy S21 FE, while on Amazon, the segment growth was almost 200 per cent driven by the iPhone 13 and Galaxy S23 FE. This year, the iPhone 14, iPhone 13 and iPhone 12 all experienced high demand, unlike a year ago when the iPhone 13 was the major driver. The Samsung Galaxy S21 FE alsowitnessed strong sales. The model was sold out after two days of the sale on Flipkart. The Rs 10,000-Rs 15,000 price segment witnessed faster 5G upgrades as OEMs launched many devices ahead of the festive season. The realme Narzo 60x 5G, Galaxy M14 5G and M34 5G were the top sellers on Amazon,while the vivo T2x was the top seller on Flipkart. "We are witnessing strong demand for premium devices even after the first week of sales, driven by the availability of many financing and credit schemes, including per-day EMIs," the report mentioned. The strong consumer sentiment will continue in offline sales as well due to parity between offline and online discounts. "Overall, we believe the festive season smartphone sales this year will grow 7 per cent YoY in terms of volumes while the average selling price (ASP) will grow 15 per cent YoY," the report said. SEE ALSO:<a href="https://www.businessinsider.in/tech/news/google-pay-everything-you-need-to-know-about-googles-new-credit-offerings/articleshow/104573817.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/google-pay-everything-you-need-to-know-about-googles-new-credit-offerings/articleshow/104573817.cms" target="_blank">Google for India – Sachet loans to credit on UPI, tech giant bets on lending</a><a href="https://www.businessinsider.in/business/news/elon-musk-says-x-to-soon-launch-a-premium-subscription-to-remove-ads/articleshow/104576727.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/news/elon-musk-says-x-to-soon-launch-a-premium-subscription-to-remove-ads/articleshow/104576727.cms" target="_blank">Pay to post on X soon? Musk says two new subscription plans in the works</a><a href="https://www.businessinsider.in/tech/mobile/news/oneplus-open-foldable-launched-in-india-as-an-affordable-alternative-to-samsung-galaxy-z-fold-5/articleshow/104560947.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/oneplus-open-foldable-launched-in-india-as-an-affordable-alternative-to-samsung-galaxy-z-fold-5/articleshow/104560947.cms" target="_blank">OnePlus Open foldable launched in India as an 'affordable' alternative to Samsung Galaxy Z Fold 5</a>

iPhone sales cross 1.5 million units in 1st week of India festive season

<ul><li><keyword id="6357120" type="General" weightage="100" keywordseo="paytm" source="Orion">Paytm</keyword> has planned a major push for the company and its partners.</li><li>It aims to focus on the states of Gujarat, Maharashtra, Andhra Pradesh, Telangana and Karnataka.</li></ul>Paytm has announced that the company and its partners will allocate ₹100 crore for marketing activities during the <keyword id="36208" type="General" weightage="20" keywordseo="festive-season" source="Orion">festive season</keyword>. These campaigns will be aligned to promote digital payments in India and educate users about Paytm UPI for money transfers, <keyword id="3032681" type="General" weightage="20" keywordseo="paytm-wallet" source="Orion">Paytm Wallet</keyword> and Paytm Postpaid (Buy Now, Pay Later) for spends, to drive financial inclusion across the country. The company has also announced “Paytm Cashback Dhamaka”, a cashback festival starting from October 14, where users can win cashback for money transfers, online, offline payments or recharges done through the app. The idea is to bring exciting offers and drive the adoption of Paytm’s digital payment instruments to more and more users across the country. The program will be rolled out across all districts in India — from merchant partners’ stores to large retail outlets, as well as online platforms. There will be a special focus on the states of Gujarat, Maharashtra, Andhra Pradesh, Telangana and Karnataka. During the peak festive season (October 14-November 14), everyday 10 lucky winners will win ₹1 lakh each, 10,000 winners will get ₹100 cashback, while another 10,000 users will win ₹50 cashback. Closer to Diwali (November 1-3) users can win upto ₹10 lakh daily. Users also stand a chance to win an iPhone 13, tickets for the T20 World Cup, shopping vouchers from top brands like Levi’s, Leaf headphones, among many others, and many more exciting rewards. Users can win cashback by using Paytm for their mobile, broadband DTH recharges, utility bill payments, money transfer, booking travel (flight/bus/train) tickets, paying credit card bills, booking movie tickets, FASTag payments, transactions at online and offline kirana stores and so much more. The offer is applicable for payments made through all the major payment options offered by the company — Paytm Wallet, Paytm UPI, Paytm Postpaid (Buy Now, Pay Later), credit cards/debit cards among others. Paytm spokesperson said, “Our aim is to drive financial inclusion in India by empowering more and more users with digital payments. Today, users come to Paytm for payments of their utility bills, recharges, money transfers among other services and enjoy a wide variety of payment instruments from Paytm Wallet, Paytm UPI, netbanking and Paytm Postpaid. The Paytm Cashback Dhamaka has been launched to celebrate the festive season with our users and offer them exciting cashback and rewards.”

Paytm sets aside ₹100 crore for marketing campaigns during festive season to promote UPI, postpaid and wallet businesses

In a major relief for some third-party digital payments players, the <keyword id="6383340" type="General" weightage="50" keywordseo="national-payments-corporation-of-india" source="Orion">National Payments Corporation of India</keyword> (NPCI) on Friday said it is extending the Unified Payments Interface (<keyword id="6358921" type="General" weightage="100" keywordseo="upi" source="Orion">UPI</keyword>) volume cap rules deadline till December 31, 2024. The NPCI initially planned to enforce the UPI market cap rules in January 2021, but delayed it several times. "In view of significant potential of digital payments and the need for multi-fold penetration from its current state, it is imperative that other existing and new players (Banks and Non-Banks) shall scale-up their consumer outreach for the growth of UPI and achieve overall market equilibrium," the NPCI said in a circular. Taking into account the present usage and future potential of UPI, and other relevant factors, "the timelines for compliance of existing third-party app providers (TPAPs) who are exceeding the volume cap, is extended by two (2) years till December 31, 2024 to comply with," said the NPCI. UPI transaction value for November was recorded at Rs 11.90 lakh crore while the transaction count was 7.3 billion. According to the NPCI, UPI processed 7.3 billion transactions worth Rs 12.11 lakh crore in October, riding on festive sales. SEE ALSO: <a href="https://www.businessinsider.in/finance/news/rupee-at-80-against-the-usd-a-possibility-say-analysts-as-us-fed-hints-at-slower-rate-hikes/articleshow/95940818.cms">Rupee may hit 80/$ aided by trifecta of softer rates, cooling crude and stronger macros, say analysts</a> <a href="https://www.businessinsider.in/business/corporates/news/globalbees-to-cred-and-two-adani-group-companies-companies-which-command-high-valuations-with-low-revenues/articleshow/95929044.cms">The curious case of companies which command high valuations with low revenues</a> <a href="https://www.businessinsider.in/business/auto/news/maruti-suzuki-announces-price-hike-from-january-2023/articleshow/95941950.cms">Maruti Suzuki cars will get costlier from January 2023</a>

NPCI defers UPI market cap rules till Dec 31, 2024

Researchers at the Indian Institute of Science (IISc) have designed a novel, tiny device capable of storing an enormous amount of electric charge. The ultra-micro supercapacitor is also much smaller and more compact than existing supercapacitors and can potentially be used in many devices ranging from streetlights to consumer electronics, electric cars and medical devices, according to Bengaluru-based IISc. Most of these devices are currently powered by batteries. However, over time, these batteries lose their ability to store charge and therefore have a limited shelf life, it said. Capacitors, on the other hand, can store electric charge for much longer, by virtue of their design. For example, a capacitor operating at five volts will continue to operate at the same voltage even after a decade. But unlike batteries, they cannot discharge energy constantly - to power a mobile phone, for example. Supercapacitors, on the other hand, combine the best of both batteries and capacitors - they can store as well as release large amounts of energy, and are therefore highly sought-after for next-generation electronic devices. In the current study, published in 'ACS Energy Letters', the researchers from IISc's Department of Instrumentation and Applied Physics (<keyword id="63950" type="General" weightage="80" keywordseo="iap" source="Orion">IAP</keyword>), fabricated their supercapacitor using 'Field Effect Transistors' or FETs as the charge collectors, instead of the metallic electrodes that are used in existing capacitors. "Using <keyword id="2298292" type="General" weightage="80" keywordseo="fet" source="Orion">FET</keyword> as an electrode for supercapacitors is something new for tuning charge in a capacitor," <keyword id="17005548" type="General" weightage="80" keywordseo="abha-misra" source="Orion">Abha Misra</keyword>, Professor at IAP and corresponding author of the study, was quoted as saying in an IISc statement issued on Friday. Current capacitors typically use metal oxide-based electrodes, but they are limited by poor electron mobility. Therefore, <keyword id="121202" type="General" weightage="80" keywordseo="misra" source="Orion">Misra</keyword> and her team decided to build hybrid FETs consisting of alternating few-atoms-thick layers of molybdenum disulphide (MoS2) and graphene - to increase electron mobility - which are then connected to gold contacts. A solid gel electrolyte is used between the two FET electrodes to build a solid-state supercapacitor. The entire structure is built on a silicon dioxide/silicon base. Misra says, "The design is the critical part, because you are integrating two systems." The two systems are the two FET electrodes and the gel electrolyte, an ionic medium, which have different charge capacities, she added. Vinod Panwar, PhD student at IAP and one of the lead authors, adds that it was challenging to fabricate the device to get all the ideal characteristics of the transistor right. Since these supercapacitors are very small, they cannot be seen without a microscope, and the fabrication process requires high precision and hand-eye coordination. Once the supercapacitor was fabricated, the researchers measured the electrochemical capacitance or charge-holding capacity of the device by applying various voltages. They found that under certain conditions, the capacitance increased by 3,000 per cent. By contrast, a capacitor containing just MoS2 without graphene showed only an 18 per cent enhancement in capacitance under the same conditions. In the future, the researchers are planning to explore if replacing MoS2 with other materials can increase the capacitance of their supercapacitor even more. They add that their supercapacitor is fully functional and can be deployed in energy-storage devices like electric car batteries or any miniaturised system by on-chip integration. They are also planning to apply for a patent on the supercapacitor. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/no-festive-cheer-for-auto-cos-in-march-pv-sales-flattish-2ws-to-see-a-slight-uptick/articleshow/99145011.cms">No festive cheer for auto cos in March: PV sales ‘flattish’, 2Ws to see a slight uptick</a> <a href="https://www.businessinsider.in/stock-market/news/the-alpha-creators-bank-and-it-stocks-outperform-nifty50-in-the-last-11-years/articleshow/99114789.cms">The Alpha Creators: Bank and IT stocks outperform Nifty50 in the last 11 years</a> <a href="https://www.businessinsider.in/finance/news/npci-introduces-interchange-fees-on-upi-transactions-done-via-prepaid-payment-instruments/articleshow/99080455.cms">Will UPI payments now attract charges? Decoding NPCI’s interchange fee on UPI transactions via prepaid payment instruments</a>

IISc researchers design tiny supercapacitor capable of storing large amount of electric charge

<ul><li>Amazon’s month-long Great Indian Festival sale ends today.</li><li>The festive sale started on October 3 offering discounts and deals on products across different categories.</li><li>Here’s a look at some of the best last day deals.</li></ul>The <a href="https://www.businessinsider.in/tech/news/here-are-the-top-ten-tech-deals-on-amazon-sale/articleshow/87249606.cms" data-type="tilCustomLink">Amazon Great Indian Festival</a> ends today after a month-long sale of discounts and offers on products across various categories. If you couldn’t shop all this while or you still have some shopping left then you can do it today on Amazon India. There are still many deals and offers available and on popular products. In addition to discounts, bank offers like the 10% discount for ICICI Bank, Kotak, and RuPay cards are still available. Customers can also get 10% cashback on Amazon Pay UPI, and redeem diamonds for cashback. As for the last top deals and offers on <keyword id="3711673" type="General" weightage="20" keywordseo="amazon-great-indian-festival" source="Orion">Amazon Great Indian Festival</keyword>, here’s a look at what you can get. Samsung Galaxy S20 FE 5G The Samsung Galaxy S20 FE 5G is available for a sale price of ₹36,990. The smartphone packs 8GB of RAM and 128GB of onboard storage, and it’s powered by the Qualcomm Snapdragon 865 processor. It features a 120Hz display, a triple rear camera setup and a 4,500mAh battery. If you want a flagship phone-like experience then you can go for the Galaxy S20 FE 5G. <cmsannotation type="cmsannotation" annotationid="B08VB57558" comment="amazoncard" text="B08VB57558">B08VB57558</cmsannotation> Apple iPhone 11 This is also the best time to buy a new iPhone and the iPhone 11 is one option you can go for. It’s available at a starting price of ₹43,999 for the 64GB variant. This is a huge discount from its original price of ₹54,900. The iPhone 11 comes with a 6.1-inch Liquid Retina HD display, A13 Bionic chip, dual 12-megapixel rear cameras and a 12-megapixel front camera. It has six colour options including purple, white, yellow, green, black and red. <cmsannotation type="cmsannotation" annotationid="B08L8DV7BX" comment="amazoncard" text="B08L8DV7BX">B08L8DV7BX</cmsannotation> Samsung Galaxy M12 If you want to purchase a budget smartphone then you can consider the Galaxy M12 that’s discounted to ₹9,499 on Amazon India. It is originally priced at ₹12,999, and it comes with 4GB of RAM and 64GB of onboard storage. The smartphone has a quad-camera setup with a 48MP primary camera and an 8MP front camera. Galaxy M12 also runs One UI 3.1 based on Android 11, and it has an HD+ display with a 90Hz refresh rate. <cmsannotation type="cmsannotation" annotationid="B08XGDN3TZ" comment="amazoncard" text="B08XGDN3TZ">B08XGDN3TZ</cmsannotation> Amazon Fire TV Stick Lite The Amazon Fire TV Stick Lite is the most affordable one you can go for as it’s available for ₹1,799 after a 55% discount from its original price of ₹3,999. The Fire TV Stick Lite comes with the Alexa Voice Remote Lite and it supports HD streaming. It comes pre-loaded with all the popular apps such as Prime Video, Netflix, Disney+ Hotstar and YouTube. <cmsannotation type="cmsannotation" annotationid="B08R6NFZ6R" comment="amazoncard" text="B08R6NFZ6R">B08R6NFZ6R</cmsannotation> Sony Bravia 4K Ultra HD LED Google TV This Sony Bravia Google TV which is originally priced at ₹1,09,900 can be purchased at a discounted price of ₹69,990 during the Great Indian Festival sale. It has a 55-inch 4K Ultra HD display, 20W speakers with Dolby Atmos and ambient optimisation. The Sony Bravia TV runs on the Google TV platform which means you get Google Assistant voice search and access to the Google Play Store. <cmsannotation type="cmsannotation" annotationid="B0918T1SDK" comment="amazoncard" text="B0918T1SDK">B0918T1SDK</cmsannotation> 2020 iPad Air The 2020 iPad Air is available at a starting price of ₹46,900 for the Wi-Fi model with 64GB storage. You can also get the 256GB variant for ₹54,900 after a 20% discount from its original price of ₹68,900. The Wi-Fi + Cellular model of the iPad Air is also available at a discounted price of ₹51,900 on Amazon India. <cmsannotation type="cmsannotation" annotationid="B08J6Z3TGQ" comment="amazoncard" text="B08J6Z3TGQ">B08J6Z3TGQ</cmsannotation> SEE ALSO: <a href="https://www.businessinsider.in/tech/news/here-are-the-top-ten-tech-deals-on-amazon-sale/articleshow/87249606.cms" data-type="tilCustomLink">Last week of Amazon Great Indian Festival sale — here are the best tech deals worth checking out</a> <a href="https://www.businessinsider.in/tech-buying-guides/best-smartphones-with-90hz-display-under-20000/articleshow/87218841.cms" data-type="tilCustomLink">Best smartphones with 90Hz display under ₹20,000 in India</a> Disclaimer - When you purchase through links on Business Insider India, we may earn an affiliate commission.

Amazon Great Indian Festival sale ends today: Here are the top deals and offers you can get

<ul><li><keyword id="12297640" type="General" weightage="20" keywordseo="shopify-india" source="Orion">Shopify India</keyword> launches Festive Shopping Outlook Report 2021. </li><li>The Indian Retail Sector can expect to cater to smarter, savvier shoppers this Diwali.</li></ul>Shopify India has released an exclusive industry trend report based on their 2021 Consumer Insights Survey. The Festive Shopping Outlook Report 2021 has been put together against the background of the pandemic, even as the Indian retail sector continues to witness radical changes when it comes to consumer behavior and buying patterns. The survey, conducted between September 15, 2021 to October 20, 2021 amongst 800 metro and non-metro Indian shoppers, reveals changing consumer shopping preferences heading into the <keyword id="36208" type="General" weightage="20" keywordseo="festive-season" source="Orion">festive season</keyword>. These trends will ultimately determine the course that the Indian retail sector will follow, by elevating consumer strategies and aligning themselves to the new order. The survey by Shopify India has been released to decode changing consumer trends and sentiments in the run-up to Diwali – one of India’s most important annual festivals, that also results in the largest shopping period in the country. At its core, the report is aimed at studying the impact that multiple lockdowns, shifting retail landscapes and a struggling economy have had on consumer pockets and mindsets. The Festive Shopping Outlook Report 2021 published nine major trends that emerged from the Consumer Insights Survey. Heightened confidence in e-tailers waters down traditional advance festive shopping The pull of last-minute discount deals along with short-lead/express delivery advantages offered by e-retailers have been instrumental in gaining consumer confidence. According to the report by Shopify India, 2 in 3 Indian shoppers had not started shopping for the festive season at the time of taking this survey. This is in sharp contrast to pre-pandemic traditional behaviors where festive shopping in India would kick off in full swing nearly a month in advance. Smaller Indian cities emerge as key e-shopping growth hubs Multiple factors such as India’s nationwide mobile penetration, brands opting to shift to a D2C model, enhanced last-mile delivery and customer-friendly return policies have been instrumental in bringing the millennial, non-metro shopper to opt for the digital medium. While online shopping – in the last decade – has largely been prevalent amongst consumers in tier-I Indian metropolitan cities, the pandemic has accelerated and driven this growth up the charts in tier-II cities and non-metros as well. According to Shopify’s Festive Shopping Outlook Report, 53.5% millennial shoppers from non-metros have displayed a strong preference to shop online. Health &amp; safety concerns push customers to adopt tech-enabled, family shopping experiences Even with increased vaccinations, consumers are wary of offline/physical shopping and in-person interactions. Convenience, value for money and personalization offered by online players has enhanced e-purchasing’s appeal. However, one thing remains the same – Indian shopping still continues to be a family affair! Half the respondents of the survey indicated that they will prefer involving their families even when shopping online during the festive season. Local businesses to win big as consumers wake up to the advantages of shopping locally Close to 58% respondents stated that they would prefer to support and shop from small online businesses during this year’s festive season. This is in sharp contrast to the usual skew towards high-end brands when it comes to gifting and festive shopping. Smaller retailers have managed to capture consumer attention and loyalty by offering a range of value for money options, along with individual attention and personalized experiences. These benefits, combined with the emotional pull that consumers feel towards extending support and encouragement to businesses that are fighting to survive, have been instrumental in driving e-sales at these small, local establishments. Festive gifting gets utility-focused Consumers are now leaning towards gifts with high functionality and utility value, as opposed to standard festive sweets or dry fruit tokens. Home confinements have led to consumers realizing the need to constantly upgrade or enhance their abodes. It comes as no surprise that home décor and furnishings topped this year’s festive shopping lists with over 50% respondents displaying preference to spend on gifts under this category. Big budgets parked for electronics, dimming the spotlight on jewellery Despite being considered auspicious as well as status symbols, gold and precious metal jewellery which have been traditional festive gifting favorites seem to have fallen out of favor with Indian shoppers this year. The pandemic has inspired consumers to put their money where major dependencies lie; in tech gadgets. This festive season, electronic gadgets are all set to command maximum consumer gifting budgets with close to 42% respondents to Shopify’s survey showcasing increased propensity towards it. High-speed internet connections and a heightened need to stay connected have increased consumer reliance on gadgets. This has translated onwards onto a large proportion of downsized festive budgets being allocated to electronic products this year. Consumer sentiment confirms that the online shopping boom is here to stay According to Shopify India’s Festive Shopping Report 2021, 76.9% Indian consumers show deep inclination towards online shopping this festive season because of the convenience it offers. While traditionally festive shopping has been an offline retail activity, pandemic-induced restrictions put in place to contain the virus forced most retail activity to move online. A practice that many consumers have got familiar with and also appreciate for the bouquet of benefits it has to offer. However, this year, even with the lifting of most restrictions, high vaccinations rates and a lower covid caseload in India, Shopify India has witnessed a continued preference for virtual retail. Contactless spending set to dominate the future of payments in India and in ‘Bharat’ With the pandemic necessitating contactless payments and boosting cashless transactions, cash is no longer king in an economy which was previously heavily reliant on cash. Armed with the second-largest mobile-user base globally, India has transitioned into the e-payments era on the back of easy, convenient and accessible UPI payment options. Nearly 50% respondents surveyed by Shopify stated that they preferred to process payments via UPI as opposed to any other form of transaction. Interestingly, the preference remains consistent across both, online and offline shopping experiences. Conclusion Diwali 2021 is set to witness the rise of a smarter, savvier Indian consumer generation which is highly dependent on technology and mobile connectivity. They now seek convenience and value over all else and have broken away from traditional token gifting. It can safely be said that this year, Indian consumers are planning their Diwali shopping with an eye on the future. A future which they are already scripting; one Rupee at a time.

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