The Market Research Society of India (MRSI) held its second Wednesday Webinar of the seventh season on 20th March 2024, on the topic of ‘Evolution of India Shopper’. The session was hosted by Amitabh Mishra, Head-Insights and Analytics - India, Dr. Reddy’s Laboratories; Sunder Muthuraman, CEO - SL Ventures, (Marketing ROI Consulting); Mukul Gautam, VP & Chief Of Capacity Building, Purple Audacity; and Jayesh K Menon, Global Director Insights, Entropik Tech, including speakers Archana Gupta, Executive Director - Lead for Market Strategy, Understanding and Shopper, Ipsos India; Nikhil Sethi, Partner (National Head – FMCG, Lead Customer Practice), KPMG India; Preet Doshi, Research & Insights Lead, Amazon India; and Sreyoshi Maitra, South Asia Domain Lead, Shopper, Kantar. The session discussed India's dynamic world of commerce and e-commerce. It delved into the influence of mobile commerce, highlighting the role of smartphones and mobile apps in shaping the shopping habits of Indians.
Speaking on how shoppers become more discerning in their purchasing decisions, Sreyoshi Maitra, South Asia Domain Lead, Shopper, Kantar said, "E-commerce penetration has crossed 20% in metros and 10% in urban areas. However, while e-commerce's contribution is steadily increasing, shoppers are becoming more and more aware of newer channels and are experimenting with them. They are not letting go of any of the old channels." Further, she added, “Due to the vast amount of choice available and the heightened awareness surrounding those options, shoppers are becoming far more discerning about their purchases. Instead of unwavering brand commitment, consumers make more selective purchases, reserving brand loyalty for specific occasions. In simpler terms, they might buy a smaller quantity of a product now, so tomorrow they can buy something else.”
Speaking on the imperative to understand what has changed since the online boom, post covid, Archana Gupta, Executive Director - Lead for Market Strategy, Understanding and Shopper, Ipsos India said, “India is the fastest growing market in the world, we are growing at 14% and by next year almost nine out of ten Indian shoppers will have internet access, which indicates a significant jump in online shoppers across the country. Urban and rural areas are now equally well-reached, thanks to e-commerce, distribution inefficiencies are effectively managed. Published sources even suggest that 60% of online sales originate from tier-two and smaller towns. This underlines the importance of leveraging reach and, of course, ensuring robust logistics to optimize the benefits.”
Speaking on tech-influenced attitude of a shopper, Preet Doshi, Research & Insights Lead, Amazon India said, “Consumer behaviour changes extend beyond online shopping, shaping the entire omnichannel experience for the foreseeable future. At its core, this shift fuels the evolution of the modern shopper. There are three different blurring zones of shoppers - zone of fantasy, zone of discretion and zone of commitment which are rapidly accelerating and cementing the desire for instant gratification. These blurring zones are the new trend that we are seeing among the shoppers.”
Speaking on achieving seamless commerce & customer loyalty through CX, Nikhil Sethi, Partner (National Head – FMCG, Lead Customer Practice), KPMG India said, “The consumer has also become a lot more nuanced now. Whether you look at affluent consumers or non-affluent consumers, competition for consumer spending has become fierce. Affluent consumers have more disposable income, new shopping options and apps, each vying for a larger share of their wallet. Similarly, for non-affluent consumers with limited budgets, established brands are locked in intense competition for market share. In this landscape, the key differentiator emerges as customer experience. Understanding the evolving shopper and crafting exceptional customer experiences becomes fundamental to winning the game and gaining market share.”
The webinar delved into the exciting world of tomorrow, exploring how augmented reality and artificial intelligence will reshape the shopping landscape.