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Velocity MR Study: 77% Of Indians Intend To Use Arogya Setu App
More than 70% will avoid public transport, while 62% will avoid using Ola, Uber, others, post lockdown, probably leading to a negative impact on cab aggregators in coming days but automobile sales to see an upward trend.
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Velocity MR, market research and insights provider, has conducted a pan India study to understand consumer sentiments towards COVID-19 and their behavior during & post the lockdown period. The study was conducted to understand the mid and long-term impact of COVID 19 on the average Indian. It is no surprise that awareness levels are high, and there is a perceptive fear in the country regarding the Pandemic. The study titled 'Surviving COVID 19 and beyond: A consumer Perspective- Part 1' covers several categories including Shopping habits, Purchase Habits, Travel, Social Activities, Investments, Social Responsibilities, etc during this epidemic.
The study has a sample size of 3,000 and was conducted in April 2020. The study was implemented through an online survey using the Markelytics consumer panel (Velocity MR is the full-service arm of Markelytics). The national study was conducted in both metro and non-metro cities in India.
The study reveals that Indians are highly concerned about this global Pandemic and are willing to follow the government's guidelines to prevent getting infected.
More than 57% will maintain social distancing and washing & sanitizing hands at regular intervals as a significant change in social behaviour even after the end of the Pandemic. The study also revealed that 71% would reduce shopping in malls and supermarkets, however, 80% will continue online shopping, suggesting a positive impact on the e-commerce industry. Banks can also get a major boost through their digital payment services as close to 90% of respondents are most likely to shift from cash to digital payments.
Many believe that the lockdown has brought in some benefits like work from home and non-availability of alcohol. 80% consider the non-availability of alcohol and cigarettes as one of the major benefits, and 74% consider work from home advantage and not a disadvantage. However, many also feel that lockdown has disadvantages, as 50% anticipate an increase in unemployment, followed by a lack of job security in the private sector (53%).
Jasal Shah, Managing Director & CEO, Velocity MR, adds, "The Pandemic continues to have an unfavourable impact on consumers' 2020 plans, food habits, social habits, etc. However, there has been some favourable impact on financial investments. Our study shows in the next 6 months to 1 year, 47% are planning to invest in Mutual Funds followed by Stock/Shares (33%) and Gold (30%). More than the business owners, it is the salaried individuals that are likely to invest in Mutual Funds and Gold. With the virus outbreak and possible health-related uncertainties, more non-insurers are also willing to invest in Health Insurance."