Online shopping market to touch 1.5 cr by 2007-08
New Delhi, Aug 9 (UNI) The online shopping market which is fast gaining popularity among avid spendthrifts, is touted to reach a 1.5 crore strong base by 2007-2008, a study said today.
The reasons behind the tremendous growth in e-commerce are home delivery, time saving, 24x7 environment, easy to use, product comparisons, besides online shopping providing attractive features to the consumers like 'close up product images', 'comparisons of product and services all the time.' ''Referrals given by online shoppers work because they come from a trusted source since the messenger and the consumer, is more credible and trusted than the advertiser or marketer,'' IAMAI President Dr Subho Ray said.
Around 93 per cent of the 1,240 people surveyed prefer online shopping to going out to markets, of which 85 per cent are male shoppers, while only 15 per cent represent the female online shopping community, a study by Internet and Mobile Association of India (IAMAI), said.
A majority 46 per cent belong to the age group between 26-35 years, 25 per cent of regular shoppers in the 18-25 age group, and 18 per cent fall in the 36-45 age group.
Interestingly, 31 per cent of consumers find a shopping site through word of mouth and 18 per cent shop online through word of mouth endorsement.
Consumers shop for all kinds of goods online, ranging from electronic gadgets, railway tickets, airline tickets, apparel accessories, gifts, music, home appliances, movies, hotel booking, movie tickets, magazines, beauty products, jewellery, health and fitness products, home tools and products and apparel gift, to toys and sporting goods.
About 67 per cent of online shoppers have shopped online as recently as 3 months, 53 per cent of online shoppers have shopped online more than 5 times and 27 per cent of online shoppers have shopped online more than 10 times.
IAMAI is a not-for-profit industry body registered under the Societies Act, 1896. The study was conducted with a base of 1,240 respondents who shop online.
UNI SBA RA