Online shopping trends in India – 2016
In recent past, India has stormed into the world of Internet Startups. Today, India is the third largest Startup Community; today Indian Startups acquire $100 Million weekly and sooner or later we are going to leave UK behind us. The growing Startup Community has impacted the lifestyle of common people. Today everyone is browsing through apps and websites looking for that specific service/product at an affordable rate.
The changed mindset and the ever-changing paradigms have brought India at a threshold from where it can lead the world for better. Today, here we will look t some of the common online shopping trends in India. We will be discussing intricate details of the same and will help you get into the mindset of online customers in India:
Discount based shopping: People flock towards Online stores mainly because of discount in India. There are only a handful of customers in India who flock towards online stores for the amazing experience they serve, most of the online shoppers are motivated by amazing deals. The changing mindset will impact people’s life but it is going to take one or more year.
Fact: 92 % of traffic leads to conversion if there are some amazing discounts available on the site. The rest of 7.8 percent just wanders, bookmarks and returns when they find the time to be appropriate for the purchase.
- Pay online and pick it up from the local store: Look intricately at this point and you will understand how true the first point is. People are going to pick up the purchased items from the store only but they are not going pay directly to the shop, you know why because there’s no discount. It is these online stores that are providing amazing deals hence people will book the items from there and pick it up from the store.
Stats: During the last year, the number of people who agreed to pick their item from the store after paying for it online has increased by 13 Percent.
- The growing Industry: If reports and assumptions are to be believed then India’s Online Market is going to grow by $1.5 Billion in next two years. With the growing stature, the competition will also grow. FDI penetration and indigenous startups will create chaos and customers will find it really difficult to settle with a product.
In order to help customers make easier choices, enterprises are coming up with varied marketing tools. Myntra recently launched Videos for their products. Now the enterprises are planning to role in video reviews from the customers and make their online stores look more legitimate.
Increased Trust and Transparency: Yes! All the advertisement on Televisions with stars like Aamir Khan, Shahrukh khan and Ranvir Kapoor has helped people in developing a trust over these online sites. Apart of that the great customer service is also responsible for the increasing trust and ever growing revenue.
Fact: 62 Percent of online shoppers feel that the prices of the products on Internet are accurate and not hyped.
Product Categorize: If we are talking about online shopping trends then we must enroll the product categories into the discussion.
Let’s have a look at the share of various product categories in the contemporary online market:
Clothing: Myntra, Snapdeal, Amazon, Shopclues, Flipkart and Askme each one of them are selling clothes online. The total percentage Clothing makes up of online market is 56.18 percent followed by 53.3 percent by Electronic products.
Gender: Yes! Analytical tools also help you in understanding whether your online customer is a male or female. 21% of the online shoppers are Female and the rest 79% are male. Only 7% of people were known to be more than 41 in age.
Who is the winner among all the E-commerce Giants?
Among Snapdeal, Flipkart, Amazon, Shopclues, PayTM and Askme (all of these are funded enterprises) the one who steals the online selling show in India is Flipkart.
Flipkart was probably one of its type e-commerce companies that provided with such classy service. It has made Indian shoppers grow addicted to online shopping and the rest of them are just feeding on it.
Fact: 74 % of people prefer Flipkart to Amazon, Snapdeal and others combined. The online store has helped Indian Population find an alternative, that is cheaper, reliable and is worth of every penny.