Consumers surprisingly invested on astrology, religious products and hobbies such as knitting and gardening, as per an Instamojo report
Bengaluru: Indian netizens spend more than Rs 2 million on unusual D2C (direct-to-consumer) brands in FY (fiscal year) 2023 according to a report by Instamojo, a digital solutions provider for D2C businesses.
In FY23, consumers collectively invested Rs 8 lakh in astrology and tarot card readings, with each individual spending an average of Rs 1,250 per purchase to have their fortunes assessed. About 40% of the total spending on astrology and tarot card reading came from Northern parts of India like Delhi, Noida, Lucknow.
Most sought out months for astrology and tarot reading were November, December and January which had the highest number of transactions as well as highest total transaction value.
Indians also spent close to Rs 8 lakhs on religion and spirituality products in FY23. Most buyers of religious and spirituality merchandise were from southern parts of India with cities like Chennai, Coimbatore, Bengaluru, Salem, and Madurai making up 50% of the spending.
The peak month for purchases of religious merchandise was March, and customers, on average, spent Rs 1,500 on such items.
In FY23, consumers adopted hobbies such as gardening and knitting, resulting in a collective expenditure of over Rs 2.65 lakhs. People spent Rs 2 lakhs and Rs 65,000 on garden supplies and sewing/needle work material respectively.
Tier 1 cities such as Bengaluru, Chennai, and Hyderabad accounted for over 55% of the total purchases made for garden supplies in the fiscal. August saw the highest purchases of garden supplies. Tier 2 cities witnessed more than 50% of total sales for sewing and needlework materials, with the highest sales for these items occurring in the month of March.
