Wednesday, October 28, 2020

Business

Digital India bats for Amazon, JioMart, Paytm, Byju's: BofA-Survey Monkey

IANS | September 23, 2020 10:56 AM

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 per cent of users preferred Amazon over rival Flipkart which stood at 22 per cent. Only 5 per cent of those surveyed preferred to go basis price alone.

In the lucrative online grocery sweepstakes, 67 per cent said they had tried JioMart. Of these 47 per cent said they will go to the app again, while 20 per cent were iffy. 21 percent preferred Grofers/Big Basket.

In digital payments, 53 per cent preferred Paytm, while 28 per cent batted for Google Pay. 14 per cent lean towards PhonePe.

Sixty-eight per cent said they were comfortable with digital payments.

As for streaming habits, 53 per cent said they preferred YouTube mainly. 15 per cent/13 per cent/ 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 per cent confirmed that they have increased online ordering from eateries. 56 per cent displayed an intent to continue doing so for the next six months.

Seventy per cent showed adaptation to edu-tech. Here Byju's lead the pack at 38 per cent. Unacademy and Vedanta were at 35 per cent and 29 per cent. Embibe, owned by Reliance, was being used by 9 per cent.

Seventy-eight per cent of those surveyed were already doing online gaming in some form. Fifty-four per cent preferred mobile games, while 16 per cent/8 per cent preferred fantasy gaming/e-sports.

Forty-nine per cent were using smart watches to map their health while 20 per cent were tracking via mobile phones.

Cab hailing was equally split between Ola and Uber. Indicative of these times, 52 per cent 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 per cent were males. Twenty per cent were between 18-29 years old. Forty-six per cent were between 30 and 44. Twenty-three per cent 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.

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