The pandemic has had a drastic impact on consumer behaviours, from initially responding to the crisis with panic and fear of buying certain products back and forth concerning health and household items.
Bloomberg published a list of products which Indian consumers bought most during the pandemic and lockdown.
The pandemic has not only influenced how people spend but has also impacted preferences, with many now buying products dedicated to boosting health and immunity.
According to the report, Dabur India Ltd. and The Himalaya Drug Co., two of the companies that offer Ayurvedic products, the country's ancient system of medicine are witnessing high demand for traditional products like Chyawanprash that is a mix of ayurvedic ingredients and proprietary supplements.
Sales of the product grew 283% in June and branded honey rose 39%, according to Nielsen Holdings Plc. Dabur said its chyawanprash sales surged 700% from April to June. Demand for protective equipment including facemasks, gloves, sanitizers also rose sharply due to the pandemic.
From breakfast cereals, instant noodles, rice to cooking fats, packaged foods have also been experiencing the strongest growth since March.
The revenue of Nestle India Ltd., the maker of most popular Maggi noodles grew by 10.7% in the quarter ended March, driven by sales for Maggi, KitKat and Munch, according to Haitong Securities Co. analyses.
Parle Products Pvt.'s Parle-G biscuits, logged record sales during April-May. Britannia Industries Ltd. has also emerged as the biggest beneficiary.
Digital services have also experienced a massive surge in their revenue, in view of their need for both works and at-home usage.
The report read that the number of new students using online education startup Byju's grew at three times the usual pace between April and June.
E-commerce company Flipkart has observed high demand for laptops ever since March. OTT platforms like ZEE5, Netflix, Amazon Prime, Disney Hotstar have reported a jump in daily active users and in-app downloads during the lockdown.
With the economy at a stake and millions of people losing their jobs, many Indians are pawning their gold jewellery. Some small business owners are also borrowing more against the precious metal.
This has benefitted companies like Muthoot Finance Ltd., India's largest cash-for-gold lender, that saw a 57% rise this year. Manappuram Finance Ltd. experienced a 4.5% growth in its gold-loans portfolio during the lockdown-affected first quarter.
Indians who can afford more goods are contributing to higher sales of consumer appliances. Search for white goods including juicers, mixers, microwaves and toasters increased in the month of July.
Sales of hygiene appliances such as vacuum cleaners reached four times the pre-pandemic level in July. According to the report, companies such as IFB Industries Ltd. have suspended new orders for dishwashers because they are unable to keep up with demand.
There has been a high demand for grooming products as well, from trimmers to grooming kits, that have risen sales of companies like Havells India Ltc., with close to five times as high in this quarter compared to pre-COVID times.
The report quoted the Mintel Research that suggested a quarter of Indians are now planning to spend more on home-care products, driven largely by millennial, as they get involved in their household.