India’s e-tailing market is at an inflection point and will see rapid growth to become $15 billion market
Consumer confidence to shop online will continue to rise and India will have 100 million online shoppers by 2016
Mumbai: Consumer confidence to shop online will continue to rise and India will have 100 million online shoppers by 2016. According to an annual online shopping growth trends report released by Google, India’s e-tailing market is at an inflection point and will see rapid growth to become a $15 billion market by 2016. The report highlighted that the confidence to shop online was on the rise as 71 per cent non-buyers from Tier 1 and 2 cities said they plan to shop online in the next 12 months.
The findings also revealed that women buyers in Tier 1 cities were more engaged in online shopping, and outspend men by two times. Women were also responsible for driving growth in categories like apparels, beauty & skincare, home furnishing, baby products and jewellery. This research finding was consistent with search query trends seen on Google, which showed a 64 per cent growth in search queries for apparels, 64 per cent for baby care, 52 per cent for beauty and personal care and 49 per cent for home furnishings.
Looking at the growth trends of the categories, the report also projected that 40 million women are estimated to shop online in India by 2016. About two-third of online shoppers highlighted convenience and variety as major reasons in addition to discounts. Over 60 per cent also felt that buying online was directly correlated with social status. However, the report also said that 62 per cent of the online buyers were not satisfied with their online shopping experience while 67 per cent of buyers felt that the return process was complicated and expensive.
( Source : dc correspondent )
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