According to a report from KPMG, one of the Big Four accounting organizations in the world, and the Retailers’ Association of India, COVID-19 has affected shopping habits in a big way. Now safety is the prime barometer guiding customer decision-making, overtaking previously dominant factors such as convenience and price range.
The report notes things to look out for and expect in the coming year. First off, people may find that pre-COVID 19 behavior may not be the best way to act post-pandemic. Habits attained during the current crisis may linger, even when people retain a sense of normalcy. Meaning, e-commerce sales may continue to surge, even though experts expect retailers to adapt and make strategic collaborations to survive. The digital wave is coming, and retailers have to start thinking out of the box and accelerate tech adoption.
While the report states that demand in sectors such as physical shopping, entertainment, and hospitality is likely to swell after the opening of the physical marketplace, some industries will continue to see a slow decline.
Online Lottery Tickets Sales Increase Amidst Pandemic
One sector that is benefiting from this e-commerce revolution and shifting consumer habits are online lottery games. Once the first lockdown happened in March, lotto shops around India closed, and both the Kerala and Sikkim State Lotteries were greatly affected. It took more than two months for lotto shops to open back up. During this down-time, many Indian’s sought alternatives, discovering that they can play online lotteries or buy tickets for international draws.
Ticket prices for traditional lotteries in India range from Rs 6 to Rs 50. In comparison, the price of a EuroMillions lottery ticket is Rs 280. While this is a massive difference, and it is, if you get seven numbers correct on a EuroMillions slip, you win a Rs 1510 crore prize, which is incomparable to Indian jackpots. Other international lotteries that residents can enjoy include the American Powerball and MegaMillions, the Spanish El Gordo, the Italian SuperEnalotto, the Brazilian Mega Sena, and many more.
Bollywood Moves From the Big to the Small Screen
The movie industry is facing one of the most trying times ever. It is a global movie crisis, as production shut down almost everywhere in March, and cinemas followed suit. In the US, massive theater chains such as AMC and Regal Cinemas are facing grim prognosis. It is no different in India. During the summer, theaters were either closed or resorted to showing old movies due to a lack of new content.
However, during the first half of the year, a FLYX survey showed that 50% of respondents purchased a streaming subscription during the pandemic. Amazon Prime attained the most users, followed by Netflix and Hotstar. These services are now buying out movies intended for the big screen, and in the coming year, they may remain the only game in town. Thus, production companies will have to partner with them and premiere their products on TV screens.