Over 60% of shoppers are upping their budget this festive season: Meesho survey

Online shopping platform Meesho has seen e-commerce adoption grow significantly in non-metro locations, especially in categories including fashion. The business’ recent survey titled ‘E-commerce Festive Forecast 2024’ also found that 60% of shoppers are planning to increase their shopping budget this festive season.

“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,” said Meesho’s general manager of business Megha Agarwal, India Retailing reported.
 
The survey also found that 70% of respondents follow influencers to watch product reviews and hauls for shopping inspiration. The majority of respondents pre-plan their festive shopping but 16% described themselves as purely last-minute shoppers.
 
The business found that social media can increase the urgency with which shoppers make their purchases as 40% of surveyed shoppers stated that they are driven by the fear of missing out on popular products. Meesho also surveyed its sellers and found that 65% of sellers plan to launch new products for the festive season to galvanise consumer demand and some are entering new product categories and investing in advertising.
 
“For our sellers, who are increasingly new to e-commerce, innovation is crucial,” said Agarwal. “Sellers are venturing into new categories and launching innovative products, reflecting their strategic push to meet evolving consumer demands.”