Indian consumers shift to Digital Commerce, show no signs of slowing down

24 Jun,2020

 

 

By A Correspondent

 

Consumers in India and across Asia Pacific are rapidly going digital with purchases of everything from groceries to movies in a shift that looks set to become a permanent habit after the pandemic passes, Mastercard research shows.

 

E-commerce and contactless payments continue to grow in popularity as people make the move to digital by default and we reduce our use of cash, according to an ongoing study by Mastercard in multiple markets around the world that analyses the impact of current and future consumer behavior. Shopping in India has also shifted to online as 86% of people feel that hygiene concerns are here to stay.

 

Indian insights show a rapid shift in preferences:

E-commerce is on the rise with 49% of Indians planning to make more purchases online

At the same time, 68% of Indian consumers think less in-store shopping is here to stay – the highest recorded across the markets surveyed

In Asia Pacific, 46% of consumers say they plan to use cash less often, including 49% in India

 

A large majority in India (77%) believe the shift to contactless payments is here to stay Said Sandeep Malhotra, Executive Vice President, Products & Innovation, Asia Pacific, Mastercard: “Our shift to digital commerce is here to stay as people embrace the benefits of safety, security and convenience. Consumers now want on-demand products and services – whether it’s food delivery, groceries, fitness courses, telemedicine, conferencing, learning or entertainment. This demand and these expectations will continue to drive e-commerce long after COVID-19 subsides,” adding: “As communities and economies emerge from the pandemic, the new consumer mindset sends a clear signal to merchants of all shapes and sizes that online shopping and touch-free transactions are essential to building the business and ensuring customer loyalty now and in the future.”

 

 

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