67% Indians resort to buying their parties online this year, a survey by nearbuy reveals.

               5 out of 10 people plan to spend higher than last year this New Year’s Eve

by Shrutee K/DNS

New Delhi, 22nd December 2016: After a survey rolled out by nearbuy, India’s largest hyper-local platform; 5500+ people across India spilled their New Year party secrets. With the sudden onset of demonetization, nearbuy wanted to know if people are stepping out to join in the revelry or just staying put to spend some quiet time at home. Either way, they are revealing here what people have to say about their plans and their spending habits: 

Party goers in India are loosening their purse strings this year with respondents almost unanimously (52%) ready to spend more, (31%) keeping their budget the same for parties compared to last year. However, there is a minority who is doing so cautiously, as the main concern for people (17% on average) this festive season is to stay within budget or find an option which is not expensive.  Nearbuy asked the 17% the reason for spending less this year - 34% feel cash-starved because of Demonetization, 15% are just tired of doing the same old thing every year, 38% gave no particular reason and 13% feel that NYE is just any other day for them. 

Highlights

NYE 2016 Plans   

Five star parties 29%   

Dinner at a restaurant 22%   

Binge-watch TV all day 17%   

Traveled to a new destination 8%   

House Party 11%   

Haven’t made up their mind yet 13%  

When asked what they did last year on a New Year’s Eve, respondents across India said they danced all night like there’s no tomorrow (24%). Not far behind, was a major section of Indian consumers (16%) who enjoyed a lavish spread at a restaurant. However, (13%) of the respondents escaped the city to explore a new destination, (20%) binge-watched TV shows/movies at home or in theatre, (14%) rung in the new year at a house party. Rest of them just chilled and did nothing.

While spending is a big priority for Indians, their generosity only goes so far. Only 12% spent 5000 INR on celebrating New Year’s Eve. 21% spent between 2001-5000 INR. 31% shelled out up to 2000 INR. A whopping percentage (36%) spent less than 1000 INR on NYE last year.

This year, (29%) Indians are planning to have a ball at a 5star, (22%) will savor a dinner at a restaurant, (8%) will strike a destination off their bucket list, (17%) plan to be couch potatoes and watch TV all day.  (11%) will be bringing in New Years at a house party, (13%) of them haven’t made up their mind yet.

Ankur Warikoo, founder and CEO nearbuy commented “Conducting this survey has provided us with essential insights about our target audience and their sentiments towards NYE’16. It has revealed a few facts that are surprising as well overwhelming for us. Majority people are willing to spend more than what they did the previous year which essentially means that demonetization has not dampened their spirit and they are in full gear to buy their party passes online which works in our favour.”

About nearbuy: nearbuy is India’s largest hyper-local platform that enables service merchants in the offline world sell to online customers. We at nearbuy, work hard to bring your world, closer to you. Whether it’s fine dining, relaxing at the top spas, or just discovering your city intimately, nearbuy makes it happen for you. nearbuy offers its merchants a strong branding and visibility-led platform that enables customers, in and around their establishments, to easily discover their businesses. We are present in 33 cities, 18+ categories and have over 50,000 merchants across 100,000+ unique locations.