Analysis of Ecommerce
Analysis of Ecommerce
Online shopping is rapidly picking up pace in India, and most of the retailers now understand the potential of online shopping. The estimated size of current e-commerce in India is approximately $1.6 billion in sales, and this is expected to grow by 2 to 4 times in next 2 to 3 years. Recently CouponRani.com, which provides one stop for offers and coupons, conducted a survey to understand key trends and consumer mind-set towards online shopping. software, tickets, subscription services etc. can reward their user by offering free and exclusive coupons Our Top findings were -
- Convenience was listed as top reason for shopping online by 74% of the respondents.
and at the same level as discounts and coupons. This is good news for e-tailers, as the value proposition for online shopping is clear in minds of shoppers. This result jibes with an earlier study by BCG of online shoppers.
- 27% of our respondents said they purchase majority of their good online.
We believe this bodes well for e-tailers as online shopping is gaining acceptance.
- Coupon/Deal Sites, Google Search and Social Media were the top 3 places for shoppers to find coupons and offers
- Comfort of Shopping Online as Important as Discounts for Online shoppers
74% of the respondents listed the convenience to shop as the most important reason to shop online, which was on par with discounts. The product diversity was the second most important reason, cited by over 50% of respondents.
- 27% of respondents do Majority of their Shopping Online
With retail companies taking a big leap in reaching out to customer through online media, customers are putting bigger pie of their shopping budget to online shopping. Only 31% audience said they shopped less than 30% of the time online. It was found that 27% of the respondents said they did 50% of shopping online. This result was surprising to us and showed how a large population of youngsters are comfortable with online shopping.
- Majority of our respondents were below 25 years
We had over 100+ people answer our online survey. The survey was conducted on few of our online web properties which are focussed on Deals and Coupons.During survey it was found that majority of the customers - over 53% belong to 0 - 25 years and 40% of the customers were in 26 to 40 years age group. We believe this suggests that the young generation are more incline to online shopping. This also matches with % of people that are online by age group. Facebook usage data from their ad panel shows over 68% of their users in India are below 25 years.
- 95% of Respondents Look for Discounts and Coupons Before Purchasing
When asked about Coupons and Discounts, over 95% of the respondents said they look for deals and coupons while shopping. This result was as expected as we saw respondents earlier mentioned discounts as key to their shopping online. The survey also confirms that coupons are the most important factor while making any purchase. Sites like CouponRani.com have been increasingly fuelling this very need of the customer by offering coupon from 1000+ online merchants in India.