The contactless world

| Updated on May 16, 2021

Consumers are gravitating towards smaller brands, e-wallets and Ayurveda: Report

A willingness to try lesser-known brands, growing virtual wallets and an increasing reliance on Ayurveda are some of the findings of a new study, by Dentsu India’s data sciences division, on the impact of a contactless world on consumer behaviour and the Gen Z and millennials.

The report, ‘The Next Normal: The Rise of the Contactless Economy’, points out how the pandemic is creating a zero-touch and more consumer-conscious world.

Nearly 70 per cent of those surveyed was willing to buy a lesser-known brand; 60 per cent of their transactions was via virtual wallets, with Google Pay enjoying a lion’s share.

It found that 59 per cent had done an online certification programme.

Gautam Mehra, Chief Data Officer (Asia Pacific) and CEO, Dentsu Programmatic, said, “Pegged to globally reach a $3-trillion size by 2025, the ‘at home’ consumption economy has been fuelled by the need for consumers to look at digital channels to maintain normalcy in their lives.”

Regeneration rising

Wunderman Thompson Intelligence in its latest trend report says that, going beyond sustainability, regeneration is the theme that brands need to be a part of. “Regeneration goes beyond sustainability and mitigating harm, to actively restoring and nurturing, creating conditions where ecosystems, economies and people can flourish. In the post-Covid values and lifestyle shift that has happened, consumers expect brands to lead, get into regenerative agriculture, inspire people to make better choices.” The 92-page report has a lot of consumer voices and prescriptions for brands.

Published on May 16, 2021

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