E-Commerce Shopping to increase by 150% in Metros
e-Commerce shopping is gaining immense popularity in metros, especially Delhi and Mumbai as its volumes are likely to exceed by 150% to touch Rs. 5,500 crores in 2007-08 from Rs. 2200 crore in 2006-07, with share of Delhi e-shoppers going beyond 30% which was 20% in last fiscal, according to the Associated Chambers of Commerce & Industry of India (ASSOCHAM).
Changing lifestyles and shopping habits turning for convenience and large number of people and merchants becoming internet savvy will be primary reasons for pushing up e-commerce transactions by atleast 150% in metro such as Delhi, Mumbai and other cities like Banaglore, Chennai, Kolkata, unveils ASSOCHAM findings.
Just as Delhi e-shoppers population was 20% in 2006-07, in Mumbai it was 24% with maximum e-shopping taking place in electronic gadgets, apparel & design purchases, railways, air & movie tickets. The number in percentage increase for e-shoppers in 2007-08 would touch atleast 40% in case of Mumbai while in Delhi it is expected beyond 30%. Products that will gain popularity in e-sale could include gems & jewellery, online books sale, accessories, apparel, gift products, music and movies, hotel room besides tickets for transportation, says assocham.
ASSOCHAM findings further add that most of e-shoppers have shown satisfaction with e-shopping as the chamber has received feedback from various organized retailers in this regard. This experience will only be repeated which will amount to hike in numbers of e-shoppers with range of products sale getting multiple because of assured supplies in which quality and quantities are never compromised. Other reasons for e-shoppers number multiplying are because of factors such as home delivery which saves time, secondly '24x7' hours shopping with ease and availability factors for product comparisons.
In other cities like chennai, 7% of its population chose to buy daily routine products through e-commerce in 2006-07, which will go to 11-12% in current fiscal for railway tickets, airline tickets, magazines, home tools, toys, jewelry, beauty products & sporting goods categories. likewise, kolkata share was 7% in the year, which might go up another 3-4% in 2007-08. Online music sales and movies are the highest e-sale in the kolkata. similarly, bangalore share is 6% for books, electronic gadgets, accessories, apparel, gifts, computer peripherals, movies, hotel booking, home appliances, movie tickets, health & fitness products and apparel gift certificates in 2005-06 will touch the 9% in 2007-08.
Most products bought & sold off through online comprise books (42%), electronic gadgets (41%), railway tickets (39%), accessories apparel (36%), apparel (36%), gifts (35%), computer and peripherals (33%), airline tickets (29%), music (24%), movies (21%), hotel rooms (20%), magazine (19%), home tools and products (16%), home appliances (16%), toys (16%), jewelry (15%), movie tickets (15%), beauty products (12%), health and fitness products (12%), apparel gift certificates( 10%) and sporting goods (7%).
28% of regular shoppers are in 18-25 age group, 48% in 26-35,15% in 36-45 and 9% in the age group of 45-60. 88% of Online Shoppers are male as against 12% female. 86 % of the user base is educated with a Bachelor or Master degree, it represents an educated audience.50% of online shoppers are at an executive level. 26% of online shoppers are professionals or self-employed, indicating an assured spending power.
The rapid development of e-commerce is forcing companies today to adopt business strategies revolving around the Internet. The report reflects the changing face of business trends in India. Today, The Internet population is more than 120 million and is expected to grow at 200+ million by 2008.
Flight, train, movie, hotel rooms bookings are contributing to the growth, besides direct purchases. Among metros, Mumbai led in all categories, except jewellery, where Delhi came out on top. kolkata scored in online music sales.
This business module is cost effective, easily accessible and profitable in many functional areas. Consumers and retailers both desire safe, simple and comprehensive online shopping that will truly realize the range of power of the Internet."
The online system is advantageous to vendors because rapid solicitations can be viewed 24 hours-per-day using a "one-stop shopping" format that eliminates the need to visit procurement offices. Many local entities also use the system to describe their minority contracting procedures and walk applicants through the certification process.
VISIT ONLINE BOOK STORE
CLICK FOR MORE FEATURES & STORIES