Improving Online Shopping Trend in India

Economic recession is the hot topic that is discussed, not only by experts, but also by fellow citizens of the country. Even though, this slowdown has reduced the footfalls at posh shopping malls, but shopping enthusiast still continue their shopping on a different platform, which is the rapidly growing online shopping.

Report by Assocham: According to a recent report submitted by The Association Chamber of Commerce and Industry of India (Assocham), in India the e-commerce market has reached a mark of 88% and amounted to $16 billion in the year 2013. Assocham has stated that the availability of different payment options and the increasing internet access are the reasons behind the improvement in the e-commerce industry in the year 2013.

Estimation by Assocham: This association has also estimated that the eCommerce market in India will reach a mark of $56 billion by the year 2023. In the year 2009, it stood at $2.5 billion and there was a considerable improvement in the year 2012 that amounted to $8.5 billion. Then, it showed a great rise of 88%, thereby touching a $16 billion in the year 2013.

Age records: Assocham has also submitted the report on the basis of age, which showed that nearly 35% of online shoppers are between the age group of 18-25 years, while 55% come under the group of 26-24 years. Nearly 8% of the shoppers are between the age group of 36-45 years, while just 2% of them fall under the age group of 45-60. The report also shows that nearly 65% of the online shoppers are men and 35% are women.

Reason behind the increase: Assocham has added that this increasing trend is due to the fact that online stores are providing the best daily deals and many Super Saver offers online is also provided. This type of offer attracts more and more people to choose the internet as their mode of shopping. Of course, the convenience associated with this mode of shopping is another reason behind its increasing popularity. Also, different payment options are provided by the best internet stores.

Earlier, only people owning credit cards were able to do their shopping through the internet, but nowadays, Cash on Delivery (COD) facility is provided and this lights up the interest to safely place orders online. Internet stores are able to save on the overhead cost as they will not have to pay any rent or other maintenance charges like physical stores. This savings enjoyed by internet stores is passed on to the purchasers in the form of discount deals online shopping.