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Festivities likely to be smaller, more digital this year: EY

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Festivities in India are likely to be smaller, more intimate, and digital this year, consultancy firm EY said on Thursday.
As per an EY report based on the survey responses of 385 participants, festivities are expected to be smaller this year, as homemakers may continue to feel cautious during the festive season.
“84 per cent of them mentioned that they would prefer celebrating with only members from their household and 44 percent wish to avoid crowded marketplaces,” the report said.
“The fear is stronger in high spenders with 52 percent likely to avoid visiting crowded marketplaces. Online sales are expected to pick up with 28 percent homemakers planning to shop online for most festive requirements.”
On an overall level, it cited that Indian homemakers are increasingly adopting digital payments along with online applications for both work and entertainment.
According to Shashank Shwet, Partner – Design Thinking and Digital Transformation, EY India: “Though there is an accelerated uptake of online shopping among homemakers, digital literacy remains a bottleneck for wider adoption of digital channels, especially in the older age categories. To eliminate this digital divide, brands should develop user-friendly interfaces specially designed for this segment.”
“They should also leverage marketing campaigns and influencers from peer groups to educate homemakers about the safety and in-built security of online transactions.”
Besides, the report pointed out that consumer baskets are growing, with room for experimentation and homemakers are turning to products and channels that help them save time and effort.
“Supply chain disruptions due to lockdowns meant lesser availability of preferred brands and homemakers were forced to try newer options. 35 percent homemakers have permanently shifted to newer brands in at least one of the grocery categories, indicating an increasing openness to try new brands,” the report said.
“To save time and effort, 52 percent of respondents increased usage of online services and digital payments, and 28 percent among high and medium-spend homemakers purchased convenience goods like standing mops, choppers.”

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