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Covid-19 has transformed the spending habits of millions of Indians. It has altered the preferences of many, with more people buying products that are necessary for the ‘new normal’. As there was a greater focus on health, the demand for vitamin C supplements and thermometers surged during the last financial year, while demand for high-quality products declined.
Rise in import of health, fitness products
Imports of digital thermometers grew by a whopping 2,410% and nearly three-fourth of which from China. Vitamin C, a widely recommended immunity booster, recorded a 450% growth in inbound shipments, according to the import data for the financial year 2020-2021.
The rise in imports of laptops and battery chargers was significant too. As more and more employees shifted to work from home set-up, the demand for battery chargers and laptops jumped 80% and 40%, respectively.
Bicycles, personal weighing scales, hair trimmers, and vacuum cleaners were some of the items that also witnessed an increase.
Import of premium products cut down
The import in sparkling wine, scotch, and bourbon whiskey fell 65%, 73%, and 75%, respectively, as people shifted their buying habits to more health and hygiene products.
Experts cited Covid cess, introduced by some states, also as a reason for decline in high-quality product consumption. It is pertinent to note that alcoholic beverages are one of the top revenue-earning products for many states.
Inbound shipments of dental fillings, dental chair and dentures declined 43%, 43% and 63%, respectively.
Outdoor sports equipment and handbags for women saw a steep decline in imports in the previous financial year.
Inbound shipments of basketball, badminton shuttlecocks, racquets, tennis balls, and golf balls fell 35-50 %.
Commercial/ chartered aircraft experienced a 99% fall in imports, with aircraft weighing between 2,000 kg and 15,000 kg declining 98%, aircraft weighing 15,000 kg declining 35 %.
Federation of Indian Export Organisations (FIEO) director-general and CEO Ajay Sahai said with people working from home, the consumption pattern has shifted to office equipment, networking products, and food and beverages.
“Sporting goods, high-end apparel, jewellery, and cosmetics – all-related to outdoor activities have taken a hit during the pandemic. However, with the gradual reopening, lifestyle goods are seeing vibrant order booking in India,” Sahai added.