Shopping trends of Indian consumers have witnessed a change this gifting season leading to a record 40 percent rise in online trends over the regular shopping compared to last year, according to industry body Associated Chambers of Commerce and Industry of India (ASSOCHAM).
Increasing penetration of internet has added a market for every kind of consumer and online shopping has gained momentum.
“This year, there is a 40 percent more traffic on online retail websites and shopping on ground has taken a back seat. Christmas-New Year is the most profitable period for retailers across the world, especially for those in the fast moving consumer goods (FMCG) and gifting business. Shopping while sitting in your drawing room is being considered more convenient than spending hours in traffic to reach a mall nowadays,” said J Crasta, Co-Chairman, ASSOCHAM (Southern Regional Council).
Convenience scores
Apart from convenience, another important reason that online discounts are grabbing more eyeballs is the wide market and availability with abundance of choice.
“This year, online retail industry’s business is quite good. For a working person who gets probably a day or two off, heading out to shop on your only day off by battling traffic, parking issues, long lines for bill payment is quite a cumbersome process. This is the main reason for the shift in trend,” said Shubhra Chadda, Founder, www.chumbak.com.
Almost all online shopping websites have forayed into a huge variety of products to cater to all market demographies.
Online retail houses are grabbing eyeballs by posting advertisements, discounts, sales and even innovative gifting solutions to please consumers.
“Ease of use and trustworthy delivery are the main reasons online shopping trends have clicked with Indian audiences. Further, more than 65 crore people, out of the total 120 crore Indians, are below 35 years of age. There is vibrancy in the market as all target audiences can be pleased at one go,” said Harsha Raj, founder of www.e-buy.com.
The number of the usual discounts, sales boards and the banners that scream out from retail stores in commercial areas of the city too have come down.
‘Not Much Excitement in Stores’
“This year, there is very little excitement in the market. No one will openly accept that business has taken a slight beating, but somehow the competitive spirit and the number of offers in stores have come down. “However, since there are more than two weeks for Christmas, may be big brands are waiting for a little more time before announcing discounts,” said Grishma Sethi, an e-Commerce analyst from Hillton Consultancy.