The festival of Diwali in India has ushered in a significant increase in various aspects of consumer behavior, from dining out to shopping and travel. According to a Diwali Trends Report by Razorpay, there has been a 40% rise in dining out experiences, a 137% increase in jewellery sales leading up to Diwali, and a robust adoption of AI in shopping experiences, with 99% of respondents acknowledging its utility.
The report also highlighted the trend of Indians investing in their health and wellness, resulting in a 137% surge in dietitian consultations and a 42% boost in fitness equipment sales during the festive season. In addition, there has been a notable shift in shopping habits, with shoppers initiating their gift searches predominantly through online ads and brand websites/apps.
Furthermore, the essence of the Diwali festival remains deeply rooted in India’s rich culture and traditions, evidenced by the surge in sales for fashion, lifestyle brands, and women’s clothing. Rather than solely focusing on shopping extravaganzas, Indians have diverted their investments towards exploring new destinations, signaling a desire for experiences. This has led to a twofold increase in expenditures on flight tickets and a 35% increase in spending on holiday accommodations.
Insights from Criteo, the commerce media company, also revealed some interesting trends, such as a 26% increase in sales and an 8% surge in website traffic during the pivotal deal days leading up to Diwali. The report also highlighted consumer behavior and shopping trends, with early preparation for the holiday season evident, and intentions to spend more prevalent.
Overall, the festive season of Diwali has brought about a significant transformation in consumer behavior, reflecting a shift towards experiences and a more diverse approach to spending during this time of celebration.
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