The survey underscores the role influencers play in shaping consumer purchasing decisions as around half of the respondents (50 per cent) of the survey rely on influencer affiliate links when shopping for trending products
Highlighting the growth of ecommerce adoption in tier two cities, around 60 per cent of mass consumers have planned to provide a boost to their online shopping budgets during this festive season, as per the recent survey by Meesho, an ecommerce marketplace. The survey indicates that around 60 per cent of consumers make their festive purchases in advance, while 24 per cent of consumers adopt a mixed approach of planned and last-minute buys.
The survey underscores the role influencers play in shaping consumer purchasing decisions as around half of the respondents (50 per cent) of the survey rely on influencer affiliate links when shopping for trending products. A large section, around 70 per cent, of consumers look up to social media influencers for product reviews and hauls.
Around 40 per cent of shoppers are driven by the fear of missing out (Fomo) on popular products, as highlighted by the ‘Ecommerce Festive Forecast 2024’ by Meesho. Around 16 per cent of consumers are purely last-minute shoppers.
“While a majority of our consumers are looking to increase their online spending, it’s fascinating how social media is reshaping shopping—half of our users now turn to influencers for product recommendations, highlighting their significant role in driving purchase decisions,” states Megha Agarwal, General Manager, Business, Meesho,
The survey which was rolled out to around 10 lakh Meesho consumers and 2.5 lakh sellers points out that 75 per cent of the respondents are first-time entrepreneurs who have started selling online, many of whom have transitioned from government or corporate roles, illustrating the growing appeal of the ecommerce industry.
On one hand, around 65 per cent of sellers are seeking to leverage the festive season by introducing new products, there are a large number of sellers who are investing in seller ads and are adding new product categories.
“For our sellers, who are increasingly new to e-commerce, innovation is crucial. Sellers are venturing into new categories and launching innovative products, reflecting their strategic push to meet evolving consumer demands,” Agarwal adds.
Highlighting the growing preference towards technological integration in the business, the survey reports that around 70 per cent of sellers use basic tools while 25 per cent use advanced solutions such as artificial intelligence (AI) analytics.
