Qualtrics’ 2024 Consumer Trends Report highlights a paradigm shift among Indian consumers
Only 29 per cent of Indian consumers consider price as the primary driver when choosing products or services, a recent survey revealed.
Contrary to popular belief, the survey found that for Indian consumers, product and service quality, excellent customer service and a simple digital experience took priority above low pricing.
Qualtrics’ 2024 Consumer Trends Report shed light on consumers’ evolving preferences in India.
The report states that consumers in India prioritise the high quality and excellence of products and services when making purchasing decisions, with a significant 57 per cent emphasising this factor.
While high quality and excellence of the product and services is the priority of 71 per cent of customers during purchasing decisions, 53 per cent of the buyers emphasised the importance of customer service support.
“Indian consumers value effective customer service support, ranking it as a crucial consideration in their decision-making process,” the report said.
The report reveals that the ease of a digital experience plays a substantial role, as 34 per cent of consumers prioritise seamless interactions and transactions in the digital realm.
Customers respect more than only great quality and user-friendly technology when purchasing from a certain brand that is beneficial to society.
Social responsibility is important to Indian customers, with 26 per cent citing a brand’s good impact on society as an influencer in their purchase decisions.
“Consumers in India expect more than ever from the organisations they engage with. Brands need to find ways to capture valuable customer feedback in all the places where it’s being shared – such as through surveys, on social media, call transcripts, chat logs, and review sites – and combine it with operational data – such as average spend and visit frequency – to gain insight into what consumers are doing and better understand how to serve them better,” Moira Dorsey, Principal XM Catalyst at Qualtrics XM Institute.
In AI adoption, addressing consumers’ concerns about losing the human touch is crucial.
While 64 per cent of Indian consumers are comfortable engaging with AI-powered services, their primary worries include the potential loss of human connection, job displacement, and misuse of personal data.
The study indicates consumers are less satisfied with their digital support experience than with human-assisted interactions.
