August has been a month of monsoon, discounts and festivities, all the reasons to celebrate and be together. This has been transformed into some interesting numbers for the retail industry, especially the e-commerce side of it.
According to a recent report by ASSOCHAM, there is a 65 per cent increase from last year in online shopping. The report unveils that shopping on ground is slowly and gradually taking a backseat due to convenience, rising fuel price, security reasons, online discounts and availability with abundance of choice online.
The online shopping market is estimated at Rs 52,000 crore and is growing at 100 per cent per year.
Delhi – The capital of shoppers
ASSOCHAM has conducted a survey of around 5,000 shoppers from Delhi, Mumbai, Chennai, Bangalore, Ahemdabad, Kolkata, among other cities.
And in the survey, Delhi has emerged as the top location for people shopping online, followed by Mumbai and Ahmedabad. It is also found that 62 per cent of Delhiites preferred to shop online, while 30 per cent preferred to shop in traditional markets like Sarojini Nagar, Lajpat Nagar, Karol Bagh, Janpath, Paharganj, Sadar Bazar and Chandni Chowk.
Additionally, around 6 per cent of respondents said they prefer to visit a mall for their shopping needs while 2 per cent said they prefer shopping at speciality stores.
NRIs shop online during festivals:
The survey also found that non-resident Indians shop more actively and during Raksha Bandhan, their online shopping contributes 60-70 per cent of total shopping, while during Diwali, it increases to 90 per cent.
Obviously women rule:
The study also noted that male consumers enjoy the bigger slice of the market pie, with 85 per cent of the men being online shoppers compared to 15 per cent women.
India has more than 100 million internet users, out of whom around half opt for online purchases and the number is growing every year. With such a large market size, companies, right from retail shops to consumer goods, are entering the web space to attract potential customers, the survey observed.
Moreover, in India, customers wait for the festive season to get the best deals on all their shopping needs. The idea is to provide customers with an unmatched shopping experience ahead of the festive season with a fabulous range of products at unbeatable prices.
What are they buying online?
- Gift Articles: 58 per cent
- Books: 42 per cent
- Electronic Gadgets: 41 per cent
- Railway Tickets: 39 per cent
- Accessories & Apparel: 36 per cent
- Delhiites prefer armchair shopping (thehindu.com)
- ‘Indians cancelling foreign vacation due to weak rupee’ (news.in.msn.com)
- How to Find Interesting New Shops Online (daydaily.com)