The Saarva Festive Outlook Study 2026, an online survey of 1,006 urban Indian consumers conducted in September 2026, reveals that 77% of respondents intend to spend more during the festive season, compared with just 2% who expect to spend less. Respondents indicate that the increase will be concentrated, with the average shopper planning to raise expenditure in only 1.3 product categories. The festive basket is dominated by apparel and jewellery, accounting for 48% of intended spend, and electronics and home items at 46%, while travel and dining form a smaller tail at 24%.
Discounts emerge as the leading purchase trigger, cited by 49% of consumers, whereas 38% say convenience matters more than price. Discount‑led shoppers tend to favour apparel (60% of this group), move freely between online and offline channels (42%), and predominantly use digital payments (88%). By contrast, convenience‑led shoppers lean toward electronics (52%), prefer malls and branded stores (35%), and one in five still pays cash.
Channel preferences are fragmented: a mixed online‑offline approach leads at 29% of shoppers, followed by pure e‑commerce and mall channels each at 25%, and local retail at 21%. Among mall shoppers, 53% are convenience‑led while only 26% are discount‑led. New product launches influence 23% of shoppers and social media 16.5%; however, social‑led shoppers exhibit the lowest spend intent at 66%.
The study identifies four shopper mindsets: Price Comparers (52%), Early Planners (36%), Budget Stretchers (15%) and Impulse Buyers (13%). Early Planners are the most committed, with 86% expecting to spend more, whereas cash‑paying shoppers sit at the opposite end with 59% indicating higher spend. Salaried consumers show stronger intent (82%) than business‑owner respondents (65%). Payments are firmly digital, with 82% of shoppers using digital modes; only 1% plan to use EMI or BNPL, and merely 4% say payment options influence their purchase decisions.
"This festive season, consumers are spending with intent, not abandon. They will spend more, but on fewer things, and how they shop tells us far more than who they are," said Ankur Nagar, Founder & Principal Consultant of Saarva. The study’s findings are self‑reported and unweighted; multi‑select questions mean some totals exceed 100%.
About Saarva: the firm provides consumer insights, market research, brand strategy and growth consulting across FMCG, retail, BFSI, healthcare, technology and startups. Founded by Ankur Nagar, who brings over two decades of consumer insights experience, Saarva’s recent work includes The New Indian Gen Z research series.