MAM
High inflation may dampen festival season spending: Ipsos Survey
MUMBAI: Nearly four-fifth (78 per cent) Indians claimed their planned expenditure during this festival season will be less than Rs 10,000, according to the ‘Mood of the Nation Survey‘ conducted by global research firm Ipsos.
Among the respondents (43 per cent) who said that there spend during this Diwali is less than Rs 5000 are mostly from middle and lower middle income families.
Ipsos India head of marketing communication Biswarup Banerjee said, “High inflation and an uncertain economic environment are some of the main reasons for buyers cutting down on spending.”
Less than two in 10 (16 per cent) Indians said that their shopping budget during this Diwali is between Rs 20,000 to Rs 50,000. In this group, rich and higher middle class income families were significantly higher than middle and lower middle income families.
Only five per cent of rich Indians claimed that their planned expenditure during this Diwali is more than Rs 50,000.
In Delhi, 23 per cent people claimed that their Diwali shopping budget is more than Rs 50,000 and 28% people claimed that their shopping budget is between Rs 20,000 to Rs 50,000.
In Kolkata, 92 per cent people claimed that their Durga Puja shopping budget is less than Rs 10,000.
During this festival season sweets and food items (90 per cent), clothes (86 per cent), and gifts (53 per cent) are the top three planned purchases of Indian citizen. At the fourthh position feature Electronic Goods, desired to be purchased by 30 per cent people.
A very few people also plan to buy cars (six per cent) and bikes (five per cent). These respondents mostly belong to rich and upper middle class category.
In Delhi, the top three items are sweets and food items (100 per cent), clothes (96 per cent), electronic goods (91 per cent).
Only half (52 per cent) Indians said that they were holding up their purchase decision till wDiali in anticipation of heavy discounts. In this group who is waiting till Diwali, female respondents are significantly higher than male respondents.
The remaining half of the people are not willing to wait. Male respondents are significantly higher than female respondents who are not waiting till Diwali.
Delhi (79 per cent) and Kolkata (69 per cent) topped the list in terms of holding the purchase decision till festival season discounts are announced.
“This festive season bargain-hunting may become the preferred choice for majority of Indians as higher discounts will be definitely an added incentive for spending on desired items,” added Banerjee.
Ipsos ‘Mood of the Nation‘ survey was conducted between September 24 – 27, 2012 among 420 men and women in Delhi, Mumbai, Kolkata, Chennai, Bengaluru and Lucknow.
MAM
Ameya Velankar steps down as Uber’s head of marketing for India & South Asia
Veteran marketer exits after more than seven years with the ride-hailing giant.
MUMBAI: After more than seven years of steering Uber through the bumpy roads of India’s mobility market, Ameya Velankar has decided to change lanes. Ameya Velankar has stepped down as Head of Marketing for India and South Asia, marking the end of a significant chapter at the ride-hailing company. He had been with Uber since 2019, taking on multiple roles in product and category marketing before rising to lead the marketing function for the region in 2021.
During his tenure, Velankar played a key role in strengthening Uber’s positioning in one of its most competitive and dynamic markets. He helped drive localised marketing strategies and scale adoption across key offerings such as Auto, Moto, Rentals and Intercity, tailoring global platforms to Indian consumer needs.
Prior to joining Uber, Velankar built his marketing expertise at leading consumer companies including SC Johnson and Marico, where he handled category and product leadership roles. His career began at RPG Enterprises.
Details of his next professional move have not been disclosed.
In a fast-evolving mobility landscape where brands constantly battle for attention, Ameya Velankar helped Uber stay relevant and resonant with millions of Indian users. As he moves on from the driver’s seat of marketing, the company will now look for fresh ideas to keep its wheels turning smoothly.
