New York: A 16-page survey by Bank of America (BofA) identifies Amazon, Jio, Paytm and Byju’s as the stars that Indian consumers prefer in these times of Covid-19.
Seventy-one percent of users preferred Amazon over rival Flipkart which stood at 22 percent. Only 5 percent of those surveyed preferred to go basis price alone.
In the lucrative online grocery sweepstakes, 67 percent said they had tried JioMart. Of these 47 percent said they will go to the app again, while 20 percent were iffy. 21 percent preferred Grofers/Big Basket.
In digital payments, 53 percent preferred Paytm, while 28 percent batted for Google Pay. 14 percent lean towards PhonePe.
Sixty-eight percent said they were comfortable with digital payments.
As for streaming habits, 53 percent said they preferred YouTube mainly. 15 per cent/13 percent/ 10 percent pitched for Netflix/Amazon Prime/Disney. 6 percent preferred Jio TV/Jio Cinema.
In music streaming, JioSaavn was preferred by 31 percent even as Spotify and Gaana were not too far at 26 percent and 25 percent respectively. 11 percent preferred Bharti Wynk.
In their online food habits, as many as 69 percent confirmed that they have increased online ordering from eateries. 56 percent displayed an intent to continue doing so for the next six months.
Seventy percent showed adaptation to edu-tech. Here Byju’s lead the pack at 38 percent. Unacademy and Vedanta were at 35 percent and 29 percent. Embibe, owned by Reliance, was being used by 9 percent.
Seventy-eight percent of those surveyed were already doing online gaming in some form. Fifty-four percent preferred mobile games, while 16 per cent/8 percent preferred fantasy gaming/e-sports.
Forty-nine percent were using smartwatches to map their health while 20 percent were tracking via mobile phones.
Cab hailing was equally split between Ola and Uber. Indicative of these times, 52 percent felt they wouldn’t come near a shared cab.
Structurally, BofA researchers reported higher propensity among those surveyed to shop online, use digital payments, and continue work from home (WFH) even post COVID. They saw this adaptation as positive for valuations of Bharti and Jio Platforms.
BofA commissioned Survey Monkey for this research.
A thousand folks were interviewed. Of these 51 percent were males. Twenty percent were between 18-29 years old. Forty-six per cent were between 30 and 44. Twenty-three percent were between 45 and 60. The rest (3 percent) were above 60. As for income, 17 per cent made more than Rs 75,000 per month. Twenty-five percent earned between Rs 50,000 and Rs 75,000; 35 per cent had an income between Rs 25,000 and Rs 50,000, and 22 per cent earned less than Rs 25,000.