65% more traffic on online retail sites: Assocham
With the festive season around the corner, there is a 65 percent increase from last year in online shopping, according to industry body Assocham.
Mumbai: With the festive season around the corner, there is a 65 percent increase from last year in online shopping, according to industry body Assocham.
"This festive season, there is a 65 percent 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," Assocham general secretary D S Rawat said in a statement.
The online shopping market is estimated at Rs 52,000 crore and is growing at 100 percent per year.
According to the survey conducted by the industry body, Delhiites have been lapping up the opportunity to shop online and lead the race in shopping on the internet. The capital ranked first in online shopping, followed by Mumbai and Ahmedabad.
The sample size for the survey constituted around 5,000 shoppers from Delhi, Mumbai, Chennai, Bangalore, Ahemdabad, Kolkata, among other cities.
It found that 62 percent of Delhiites preferred to shop online, while 30 percent preferred to shop in traditional markets like Sarojini Nagar, Lajpat Nagar, Karol Bagh, Janpath, Paharganj, Sadar Bazar and Chandni Chowk.
"Around 6 percent of respondents said they prefer to visit a mall for their shopping needs while 2 percent said they prefer shopping at speciality stores," it said.
The survey also found that non-resident Indians shop more actively and during Raksha Bandhan, their online shopping contributes 60-70 percent of total shopping, while during Diwali, it increases to 90 percent.
The study also noted that male consumers enjoy the bigger slice of the market pie, with 85 percent of the men being online shoppers compared to 15 percent 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.
"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," Rawat said.
The survey found that most products bought and sold online comprise of gift articles (58 percent), books (42 percent), electronic gadgets (41 percent), railway tickets (39 percent), accessories apparel (36 percent).