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Online sales may surpass Rs 30,000 cr. in festive month: ASSOCHAM

Capital Market 

Consumers are increasingly opting for online shopping preferably mobile phones, electronic gadgets, consumer durables, apparel, home appliances and gift articles on the occasion of Diwali, the sale may touch Rs 30,000 crore as against Rs. 22,000 cr spent last year, a quick survey by National Council on E-commerce.

The survey conducted in 10 cities-Delhi-NCR, Mumbai, Ahmedabad, Chennai, Kolkata, Hyderabad, Chennai, Bangalore, and Dehradun has revealed that online shopping industry in is fast catching on, not just in the larger metros but also in the tier II and tier III cities. The respondents included 350 professionals, officers and executives across various industry sectors including manufacturing, real estate, automobile, healthcare, retail, hospitality etc.

The rise of high-speed internet has enabled more people from smaller towns to come online and buy goods this year. The use of smartphone has also helped its e-commerce industry to grow, said Mr. D S Rawat, Secretary General

As per the findings, Delhi, and Bengaluru lead in terms of the sales, but there is also a huge surge of interest from tier II and Tier III cities like Pune, Gurgaon, Noida, Nagpur, Indore, Coimbatore, Jaipur, Vishakhapatnam have increased by 60-65% year-on-year, points out the paper.

The survey highlights 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. 65% of Online Shoppers are male as against 35% female.

As per report, men and women between the age group of 25 and 34 years of age shop online the most during the festive season.

As per the findings, most products bought & sold off through online comprise mobile phones(78%), electronic gadgets (72%), consumer durables (69%), gift articles (58%), accessories (56%), apparel (49%), home appliances (45%), adds the survey.

This festive season, shopping on ground has taken a back seat. There are various reasons for this lifestyle, lack of time, being away from home for work, nuclear families, etc. These have brought about a change in the festive shopping methods. Online shopping has brought about convenience and ease into the customers' lives, said Mr. Rawat.

As per the data, about 65% of Delhiites prefer online shopping over the regular shopping this year with available deals online than in brick and mortar, also advantage of free shipping with a click option.

There has been a five-fold increase in ordering through e-commerce as compared to last year, as branded apparels, accessories, jewellery, gifts etc are available at cheaper rates and are delivered at the doorstep within two-three days, said ASSOCHAM report.

Campaigning for digitalization in and attractive offers on online payments during sales, credit cards have emerged as the favorite payment method while shopping this Diwali, adds the paper.

Top reasons given by shoppers in buying through Internet:

Good discounts / lower prices

Saves time and efforts

Convenience of shopping at home

Wide variety / range of products are available

Get detailed information of the product

You can compare various models / brands

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, October 13 2017. 11:05 IST