The Indian e-commerce space which may touch Rs 62,967 Cr in 2013 is witnessing high traffic on e-commerce portals this festive season. Retail websites in India has recorded 65% increase from last year in online shopping as per latest reports from Assocham.
The industry body surveyed around 5,000 shoppers from Delhi, Mumbai, Chennai, Bangalore, Ahemdabad, Kolkata, among other cities. Delhi earned number one spot in online shopping followed by Mumbai and Ahmedabad. According to the survey, India has more than 100 million Internet users, out of which 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, adds the survey.
Giving insights about the report,Assocham general secretary D S Rawat said in a statement
“This festive season, there is a 65 per cent more traffic on online retail websites and shopping on ground has taken a back seat. Apart from convenience, rising fuel price, security reasons, online discounts and availability with abundance of choice keeping them (consumers) indoors”.
The survey further reveals that 35% of regular shoppers are in 18-25 age group, 55% in 26-35, 8% in 36-45 and 2% in the age group of 45-60. Surprisingly, 85% of online shoppers are male as against 15% female. 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.
Assocham survey also found that most products bought and sold online comprise of gift articles (58 per cent), books (42 per cent), electronic gadgets (41 per cent), railway tickets (39 per cent), accessories apparel (36 per cent). Considering the huge traffic on online retail sites, traditional retailers like Shoppers Stop, Westside and Pantaloons are looking at the online shopping space for growth, added Rawat. Emerging gifting trends also include imported wines and juices. Chocolates are picking up in a big way as a substitute to mithais. This trend extensively points towards luxury shopping, an emerging concept in the Indian market. Moreover, the survey reveals that the online retail boom is not only flourishing in metros but also cities like Lucknow, Jaipur, Nasik, Trichy etc. Finally Assocham touted that the online shopping industry at present is estimated at Rs 52,000 crore and is growing at 100 per cent per year.
“Online retail industry’s business is quite good. Heading out to shop on day off by battling traffic, parking issues, and long lines for bill payment is quite a cumbersome process and this is the main reason for the shift in trend”.