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Thursday, August 15, 2013

NRIs top online shoppers during Rakhi and Diwali: Survey

NRIs top online shoppers during Rakhi and Diwali: Survey

New Delhi -- The current festive season has seen a 65 percent rise in online shopping in India, a $8.6 billion annual market.

"Non-resident Indians are more actively shopping online during festive seasons. During Raksha Bandhan, online shopping by them contributes 60-70 percent of total shopping while during Diwali it increases to 90 percent.”

Residents of the national capital scoring over those in other cities, even as non-residents account for the bulk of such purchases, says a survey.

“This festive season, there is a 65 percent more traffic on online retail websites and shopping on ground has taken a back seat,” said D.S. Rawat, secretary-general of the Associated Chambers of Commerce and Industry (Assocham).

“Apart from convenience, rising fuel price, security reasons, online discounts and availability with abundance of choice keeping them indoors,” Rawat added, based on the latest survey on shopping trends conducted by the leading industry chamber.

Delhi tops in shopping online in India among large cities, with Mumbai ranking second, followed by Ahmedabad. The survey comprised around 5,000 shoppers in the national capital, Mumbai, Chennai, Bangalore, Ahemdabad and Kolkata among other cities.

As per the survey, 62 percent respondents in Delhi preferred to shop online and 30 liked to visit traditional markets like Sarojini Nagar, Lajpat Nagar, Karol Bagh, Janpath, Paharganj, Sadar Bazar and Chandni Chowk.

Among the remaining respondents, around 6 percent liked to visit malls and 2 percent preferred to shop at specialty stores.

“Significantly, India has more than 100 million Internet users, of which around half opt for online purchases and the number is growing. With such a huge market, companies are entering the Web space to attract potential customers,” said the chamber.

“The online shopping industry in India is fast catching on, not just in the larger metros but also in the smaller cities. At present the market is estimated at Rs.52,000 crore ($8.6 billion) and is growing at 100 percent per year,” the chamber added.

The other highlights of the survey are:

-In Chennai, 30 percent shoppers buy daily products online, and this could rise to 40-45 percent this year

-In Kolkata, 15-20 percent shoppers buy daily products online, and this could rise to 25-30 percent this year

-In Bangalore, 20-25 percent shoppers buy daily products online, and this could rise to 40-45 percent this year

-Around 85 percent of online shoppers are male, and 15 percent are women

-In non-metro markets, Lucknow ranks high for online shopping, followed by Jaipur, Dehradun, Nashik and Trichy

-Top reasons for buying online include safety, time, convenience, variety, discounts and comparisons

-Top reasons for not buying online include product quality, no bargaining, security, credit card misuse, no touch and feel and time for delivery

“Customer behaviour is changing dramatically. People are not only using the Web to book air tickets and movie tickets, but also do not hesitate in placing orders for mobiles, laptops and other consumer electronics and home appliances," Rawat said.

“Seeing this bold consumer behaviour, more companies are collaborating with such daily deal and discount sites. Even traditional retailers like Shoppers Stop, Westside and Pantaloons are looking at the online shopping space for growth.”

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