Shop till you drop!

Online sellers probably have today got more of an inkling into the buying capacity and buying power of the uber middle class. Flush with money, online classified palyer, OLX has some very interesting observations to make.

It has stated that something which is very obvious when we ourselves open our cupboards - Indians have a habit of stocking goods they no longer use, constraining space in their homes and preventing them from liquidating these goods to earn money and buy items that are more relevant to them.  As per a study conducted by IMRB, the total estimated realisable value of stocked goods across 12 surveyed cities is Rs 5,100 crore and when it is projected to Urban India this valued at a jaw dropping Rs 22,000 crore. Mumbai was number one, with more household stocked used goods than anywhere else in India. Categories most stocked are kitchen and home appliances, mobile phones, clothing, watches and books .

Why do we hoard stuff which we never use? Well, once again the survey has stated what we always knew but never admitted – the feeling that it can be used at a later date (never happens though) and maybe because we have spent good money while buying and now we are reluctant to throw, fearing ‘wastage’. Some also hoard due to emotional attachment to some products – gifted by a loved one or so on.