Online sales to cross Rs 52,000 cr during festive season
Updated: Oct 12, 2015 12:25:46pm
New Delhi, Oct 12 (KNN) Despite economic slowdown, the online shopping marts are being aggressive about marketing their merchandise expecting to rake in 40-45 per cent more in sales during this festive season, said a study.
According to a paper by ASSOCHAM, there would be more than a fivefold increase in revenue generated through e-commerce as compared to last year with all branded apparel, accessories, jewellery, gifts, footwear available at a cheaper rates and delivered at the doorstep.
The merchandise being sold aggressively through online platforms include mobile phones, electronics, designer furniture, home decorations, clothes, accessories, jewellery and footwear. The big brands are in tie up with popular e-commerce retailers and hard selling through full page advertisements, internet and television, it said.
The paper said being wooed by heavy discounts and combo offers, the consumers are expected to splurge about USD 8 billion (Rs 52,000 crore) during this season, beginning with Navratras, Durga Puja, Dussehra, Diwali and Christmas.
ASSOCHAM Secretary General DS Rawat said, “The customer is connected 24x7 through their smart phones, tablets and other mobile devices which is leading to a gradual evolution of e-commerce into mobile commerce. Also, there is an issue of convenience which also leads to impulsive buying”.
About 50-55 per cent of consumers spend on buying clothes and goods in India between September and December during the festival season that includes Dussehra, Diwali and Christmas, said the paper.
The report further said consumers are turning internet savvy because of the fast and simple payment and delivery service.
Online shopping pattern has been changing in tier-I and tier-II towns, where the broadband internet connectivity has already penetrated. The most popular among the e-commerce websites - Snapdeal, Myntra, Flipkart, Amazon, Jabong etc have been doling out massive price cuts or discounts on purchase of popular brands of apparels, footwear, electronic goods, coinciding with the upcoming festive month.
One of the driving factors for online shopping is the age profile of the consumers who are young, between 15-35 years. This segment is quite net savvy and enjoys new type of shopping experiences, virtually from their desk top in office, lap tops at home or even android based phones, added the paper. (KNN Bureau)
According to a paper by ASSOCHAM, there would be more than a fivefold increase in revenue generated through e-commerce as compared to last year with all branded apparel, accessories, jewellery, gifts, footwear available at a cheaper rates and delivered at the doorstep.
The merchandise being sold aggressively through online platforms include mobile phones, electronics, designer furniture, home decorations, clothes, accessories, jewellery and footwear. The big brands are in tie up with popular e-commerce retailers and hard selling through full page advertisements, internet and television, it said.
The paper said being wooed by heavy discounts and combo offers, the consumers are expected to splurge about USD 8 billion (Rs 52,000 crore) during this season, beginning with Navratras, Durga Puja, Dussehra, Diwali and Christmas.
ASSOCHAM Secretary General DS Rawat said, “The customer is connected 24x7 through their smart phones, tablets and other mobile devices which is leading to a gradual evolution of e-commerce into mobile commerce. Also, there is an issue of convenience which also leads to impulsive buying”.
About 50-55 per cent of consumers spend on buying clothes and goods in India between September and December during the festival season that includes Dussehra, Diwali and Christmas, said the paper.
The report further said consumers are turning internet savvy because of the fast and simple payment and delivery service.
Online shopping pattern has been changing in tier-I and tier-II towns, where the broadband internet connectivity has already penetrated. The most popular among the e-commerce websites - Snapdeal, Myntra, Flipkart, Amazon, Jabong etc have been doling out massive price cuts or discounts on purchase of popular brands of apparels, footwear, electronic goods, coinciding with the upcoming festive month.
One of the driving factors for online shopping is the age profile of the consumers who are young, between 15-35 years. This segment is quite net savvy and enjoys new type of shopping experiences, virtually from their desk top in office, lap tops at home or even android based phones, added the paper. (KNN Bureau)
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