MAM
16 per cent urban Indians currently own cryptocurrency: Kantar study
Mumbai: The sentiment around cryptocurrency in India and the world over is volatile, with tweets or news around cryptocurrency seen to have an immediate effect on it. As per a recently concluded study by Kantar, it is learned that while 83 per cent of urban Indians are aware of cryptocurrency, the ownership is at a healthy 16 per cent for a product that has gained traction only recently.
Out of the 16 per cent urban Indians who claim to currently own cryptocurrency, ownership is highest in the top four metros at 20 per cent, among private banking customers at 19 per cent and in the age group of 21-35 years at 18 per cent, found the study. The owners have a higher risk appetite, with their investment basket comprising shares at 31 per cent and mutual funds at 21 per cent over traditional choices like fixed deposits at 19 per cent and life insurance at 16 per cent.
The survey by the evidence-based insights and consulting company was primarily conducted amongst males and females aged between 21-55 years across twelve key Indian cities such as Mumbai, Delhi, Chennai, Kolkata, Pune, Hyderabad, Bangalore, Ahmedabad, Indore, Patna, Jaipur, and Lucknow. Respondents were a mix of salaried and business owners- all with savings accounts across various banks, Kantar stated adding that the time frame of undertaking the social analytics was from January 2020 to June 2021.
The study also found that cryptocurrency owners and intenders have a diversified financial portfolio. The average number of financial products owned is higher (6.6) among those who have currently invested in cryptocurrency as well as those who intend to (5.2). In comparison, the average number of financial products owned by non-crypto-owners stands at 4.6 and 3.6 for non-intenders.
Interestingly, one in two consumers intending to invest in cryptocurrency are repeat investors. Out of the total sample surveyed, 19 per cent Indians intend to invest in cryptocurrency in the next six months. However, this is lower when compared with the intention to invest in mutual funds (49 per cent) and shares (33 per cent) in the next six months.
Most Indians are currently trying to better understand how cryptocurrency works and if it’s worth the investment and risk, according to Kantar- Insights Division executive director Anand Parameswaran. “This is the first of its kind research study on cryptocurrency in India. We met close to 2,000 consumers and saw that awareness levels are clearly quite high,” he said about the study, adding that, “Consumers are willing to invest in the product and are looking at diversification of their portfolio among high-risk products. Engagement with various crypto exchanges also indicates that ownership numbers seem likely to increase in future.”
In terms of ownership, the top five preferred currencies are Bitcoin which leads by far at 75 per cent, followed by Dogecoin at 47 per cent, Ethereum at 40 per cent, Binance Coin at 23 per cent and XRP at 18 per cent. Though Bitcoin leads on ownership; net sentiment is highest for Ethereum (41). Net sentiment for other cryptocurrencies like Dogecoin, XRP, and Binance coin is also higher compared to Bitcoin.
Consumer intelligence from social data shows that the profile of those interested in cryptocurrency is most likely to be men in the age group of 25-44. The higher skew of the cryptocurrency interested audience is also seen towards the top metros with Delhi topping the charts at 21 per cent followed by Mumbai at 17 per cent, Bangalore at 12 per cent, Hyderabad at seven per cent and Pune at six per cent.
Crypto exchanges like WazirX, Zebpay, Coinswitch, and Kuber are most used to purchase the currency for the most popular ones- Bitcoin (70 per cent), Dogecoin (78 per cent) and Ethereum (70 per cent).
“While most perceive cryptocurrency currently as a digital currency, it is also perceived by the majority as an alternate form of investment. Cryptocurrency thus can be a potential competition to alternate investment instruments like gold,” said Frrole AI co-founder Amanpreet Kalkat.
Earlier, Elon Musk’s tweet (about not accepting Bitcoin for the purchase of Tesla vehicles) gave cryptocurrencies a negative sentiment around May 2021. However, post a reassurance, these sentiments shifted back to positive post-June 2021.
MAM
Cars24 launches bold assurances
Auto-tech giant unveils lifetime warranty and 30-day returns in quirky campaign.
MUMBAI: Shifting gears from empty promises to ironclad policies, Cars24 is revving up the used-car scene with assurances that could make even a sceptical mother-in-law nod in approval. India’s leading auto-tech firm has unveiled a fresh brand campaign spotlighting two industry-first perks, a Lifetime Warranty for enduring peace of mind and a 30-Day Return Policy that lets buyers test-drive their decision without buyer’s remorse, a rarity in the pre-owned wheels world.
Conceptualised by the creative whizzes at Talented and directed with flair by Shivang Monga of First December Films, this marks the duo’s debut collaboration with Cars24. Ditching the usual symbolic fluff and emotional tugs, the ads put tangible guarantees front and centre, transforming trust from a fuzzy feeling to a firm handshake.
At the heart of the films is Cars24’s India CEO Himanshu Ratnoo, who steps into the spotlight to deliver “family promises” think Mother Promise, Mother-in-Law Promise, and Sister Promise, all underscoring the brand’s rock-solid confidence in its revamped systems. These light-hearted spots treat cars like cherished kin, plonking them in cosy living rooms for that soap-opera drama, as Monga quips, “Cars have always been a soft spot for Indian households, a source of pride and treated like a member of the family. So placing cars inside living rooms felt like the right way to get the wheels turning. The CEO himself taking these ‘family promises’ just made the situations more dramatic and relatable, like a soap opera with cars!”
Cars24 co-founder and CMO Gajendra Jangid explains the backstory: “We have spent the last few years working on one thing more than anything else: the quality of the cars we sell. In this business, you can’t compensate for a weak product. So we became far more disciplined about what we source, how we inspect, and how we prepare every car before it reaches someone’s driveway. A lot of cars don’t make it through our filters. We don’t sell a car that we would not buy for ourselves and that has been a conscious choice.” He adds that these bold moves reflect genuine self-assurance, with Ratnoo’s on-camera role signalling internal seriousness. “This brand film is coming after three years and it feels good to finally share this side of our journey. We are genuinely excited about where the product stands today and proud to put our name behind it.”
Talented creatives Sanket Audhi and Udit Joshi from chime in on the cultural twist, “Buying a car in India is rarely just a transaction. It’s surrounded by opinions, advice and, most importantly, promises. Everyone has one: family members, friends, neighbours, even people who’ve never owned a car. While trust in this category has traditionally been communicated emotionally, the real shift needed to happen at a product level. With the Lifetime Warranty and 30-Day Return Policy, Cars24 is backing confidence with something tangible.”
Catch the films in all their promise-packed glory on Youtube. In a market often riddled with dodgy deals, this campaign might just steer buyers towards smoother rides.
