The study, titled ‘What is India Searching for?’, examines evolving digital behaviors and the top five market trends, which include ‘The Need to Be Always on,’ ‘Power to Know More,’ ‘Tap and Transact,’ ‘Anything, anywhere, anywhere on-demand,’ and ‘Optimize, personalize, humanize.’
According to the study, Indian consumers have developed an “always-on search” habit as they sit at the center of an endless stream of knowledge. Although they may be putting off some discretionary spending, for the time being, they are more involved online than ever before, looking for services and goods to satisfy their curiosity.
The report shows how digital dependency is growing, with time spent on smart phones rising to 4.5 hours a day in week three of the COVID-19 disruption, online video accounting for more than 70% of India’s total data use, and 2.5x increase in searches for “Python,” making it one of the fastest-growing programming languages. Over the 2019-2020 periods, there will be a threefold increase in searches for “data science” and “machine learning.”
As a consequence of the consumer’s non-linear exploratory path, brands can feel compelled to be everywhere. However, by relying on their customers’ digital fingerprints, brands can maximize their presence in the moments that matter most to them. They must maintain a continuous conversation with potential customers (Website Designing Company in Mumbai) from the moment they find them online before purchasing.
The RBI anticipates a five-fold increase to 1.5 billion transactions per day worth 15 trillion rupees ($200 billion). The United Payment Interface (UPI), a real-time payment system established by the National Payments Corporation of India and overseen by the Reserve Bank of India, is at the heart of all of this.
This digital-first reset of a world with 1.3 billion people represents technical innovation and the basis of a modern mechanism for the delivery of governance products. Two commitments embedded in the state’s programmatic use of technology are speed and leakage plugging, both of which have traditionally been difficult to fulfill in India. In 2019, “UPI” had 3x more search interest than “IMPS” and 1.5 xs more than “NEFT” in terms of digital payments. Non-metro searches for UPI expanded at a faster rate of 79 percent than metro searches of 28 percent. In terms of both value and amount, UPI transactions outperformed debit and credit card transactions.
