Indian smartphone users benefit by ₹6 for every ₹1 they spend, study reveals
shopping/booking/hiring of products and services. One such interesting finds of the survey is that a smartphone consumer in India benefits by ₹6 for every Re 1 spent. The study also states that the economic value of smartphones for the rich is almost 50% higher in India as compared to the middle class.
It says that the value that a middle-class (annual household income of 5–30 lakh) derives from their smartphones is 10.1 times greater. While the economic value of smartphones for the rich stands at 22.5 times. “This sets the ground for a strong digital landscape for the country, in which people will perform several economic activities," the report states.
The study aims to understand the preferences, behaviors, and demographics of smartphone users. It covered a diverse sample of 1,000 smartphone users across 14 metro and non-metro cities, including Ahmedabad, Bengaluru, Chandigarh, Chennai, Delhi NCR, Hyderabad, Jaipur, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, Pune, and Surat. Respondents included entrepreneurs, professionals, corporate employees, government employees, students, as well as housewives among others, within the age group of 18 to 60 years.
62% of the respondents were males, while 38% were females participating. The study also highlights the economic value derived from the different digital activities that a consumer performs on his phone. According to it, service booking and hiring emerged as the most profitable digital activity, with a return of 8 times the investment. The list was followed closely by grocery purchases at 7.9 times, utility bills and shopping at 7.6 times, essentials at 7.4 times, and digital cash at 6.9 times. Further, the average economic value for adults between the age of 41-60 was
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