An Indian shopping mall. Representative image.
Credit: PTI Photo
Bengaluru: Urban Indian households are likely to spend Rs 1.85 lakh crores during the festive season 2024, says community platform Local Circles, based on a survey it ran.
The math is woven around the survey deducing that half the urban households in India will be spending an average of Rs 10,000 on the festivities. On a count that India has approximately 80 million households, Local Circles added it up to come to the figure of Rs 1.85 lakh crore.
Interestingly, the survey also found despite the cheer in the e-commerce fraternity over prospects the upcoming season holds, most - 70 per cent - of the respondents showed a preference to shop physically in brick-and-mortar stores.
Only 13 per cent showed interest in online platforms. In terms of items in their shopping bags, most would be spending on puja supplies (70 per cent) and festival groceries (64 per cent). About 46 per cent of the shoppers are looking for value for money.
The survey drew 49,000 respondents from 342 urban districts of India.