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| Online shopping in India rises despite slump: Survey |
| BS Reporter / Mumbai May 20, 2009, 00:35 IST |
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Indian customers shopped online more frequently in the fourth quarter of 2008 than in the same period the previous year, despite the bleaker economic climate, a survey conducted by Mastercard Worldwide reveals.
The survey, which covered 5,037 respondents across 10 markets, found the average frequency of online purchases increased to 2.9 in the fourth quarter of 2008, up from 2.6 during the same quarter in 2007.
However, the average spending on online shopping in India saw a slight decline.
Not only did consumers shop online more frequently despite the economic climate, with the exception of Korea, Singapore and Hong Kong, all other markets surveyed showed an increased intention for future online shopping compared to a year earlier.
The majority of the online shopping in India was planned, with 83 per cent of shoppers admitting they tend to plan in advance and conduct research on their planned purchases.
Most online shoppers either bought items impulsively “hardly ever” (36 per cent) or “just a couple of times” (38 per cent).
The top reason for impulsive buying was the discounted prices (67 per cent) that online channels afford.
The findings suggest the economic crisis could have made online shopping more attractive. One key reason for shoppers being motivated into such purchases may be the ability to compare prices across multiple outlets, achieving the important objective of “value for money”.
In India , 54 per cent of respondents had used the Internet for online shopping. The top three popular online purchases included airline tickets (54 per cent), home appliances and electronic products (48 per cent) and CDs/DVDs/VCDs (44 per cent).
When it came to impulsive shopping, Indians seemed to prefer home appliances and electronic products (51 per cent) and CDs/DVDs/VCDs (44 per cent).
“Online shopping is growing in popularity, as consumers realise the convenience and ease of shopping online. Interestingly, among all the markets surveyed, India is the only one where the 18-29 year age group has the highest average spend on online shopping.
As businesses look to grow their online retail presence, they need to be aware of the preferences and concerns that drive online shoppers,” said T V Seshadri, vice president and country general manager, South Asia, MasterCard Worldwide.
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