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A year into the pandemic, social media commerce sees a surge with 40 per cent consumers logging in to purchase
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A year into the pandemic, social media commerce sees a surge with 40 per cent consumers logging in to purchaseET Bureau
Last Updated: Apr 02, 2021, 09:28 AM IST
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Synopsis
The report found that 70% of consumers have shifted payment preferences from cash or card to UPI or e-wallets.
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Expenditure on essential goods and services like food products and healthcare saw a substantial increase by 45 per cent and 38 per cent respectively while consumer spends on non-essentials like travel, entertainment and apparel saw a steep decline, decreasing by 68 per cent, 52 per cent and 45 per cent respectively.