Consumers in India prefer cleanliness as the most important factor for visiting shopping centers, along with personal safety and security. Value retail is also a favored category for the price conscious Indian consumer. Convenience – such as accessibility and parking –are other factors that determine shopping preferences, according to a survey by CBRE, the world's largest commercial real estate services firm.
CBRE recently released its first-ever Asia Pacific Consumer Survey which compiled data from interviews with 11,000 consumers in 11 major countries across the region. India was a part of this exercise, with a total of 1,000 respondents from the Delhi National Capital Region (NCR). Some of the key takeaways from the survey include the fact that there is the unavailability of quality shopping centers in the immediate vicinity of most neighborhoods in Indian cities.
"While the insights from this survey reinforce some universal trends in retailing and consumer behavior, they also elucidate consumer trends specific to the Indian retail market. A universal trend that Indians are embracing with great verve, however, is online shopping. Consequently, retailers should consider adopting a dual-platform business model, enabling them to leverage on physical stores as well as online portals," said Anshuman Magazine,CMD, CBRE South Asia Pvt. Ltd.
The use of online shopping is increasing rapidly and consumers surveyed indicated that they will shop online more frequently over the next two years. Almost 67 per cent said that they were likely to shop from a desktop / laptop more often; while around 59 per cent expected to use tablets / smartphones more often to shop online. The survey also revealed that over the next two years, 78 per cent of shoppers will spend more on shopping online.
The survey highlighted three broad themes: overall shopping experience sought by consumers, what attracts Indian consumers to a shopping destination and online shopping trends.
Respondents were asked how and where they shop; how they value and perceive their shopping experience; and how they see the future of shopping in the country.
The survey found that Indian consumers emphasised on the overall shopping experience offered by shopping centers. The report said that retail real estate developers in India should consider designing shopping centers (taking into account the promotion and tenant mix) in keeping with consumer preferences.
