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Monday, 25 June 2012

INDIA AND E-MONEY / E-COMMERCE

India after being a huge success in social market is all set for the next big revolution that is e-commerce. Indians are always positive when it comes to job perspective and personal financial matters. Moreover exposure and awareness to brand culture, wider market options, changing lifestyles, western influence and many other things are influencing Indians to adopt the e-commerce culture. Recent trends and figures shows the upcoming revolution which has already started, in Australia online purchasing has reached to $10 billion with a 9% growth in online spending. Now is the turn of India to get the colors of e-commerce.
Certain facts that shows the market is booming in India:
·         More that 6 out of ten Indian online consumers plan to do shopping.
·         10% of the users commit that they spend more than 11% of their monthly expenditure on online shopping.
·         71% of Indians got trust from their families while making an online purchase.
·         About 55% of the users take help of social sites to make a decision in order to buy something online.
·         More than 10% of the Indian users post negative comments or posts if they got a bad experience from certain product.
·         In the last six months Indians have purchased books (41%), Airline, Train tickets, Movie Tickets (40%), Electronic Equipments like TV, Camera etc.
Based upon these facts certain prediction can be made for the next six months w.r.t Indian market:
Products and Services People intend to purchase in next 6 months

Books
47%
Music
20%
Videos/ DVDs/Games (not downloaded)
21%
Clothing/Accessories/Shoes
30%
Cosmetics /nutrition supplies
13%
Electronic equipment (TV/Camera etc.)
37%
Computer Hardware / Accessories
25%
Computer Software (not downloaded)
20%
Airline ticket/ reservations
45%
Tours /Hotel Reservations
30%
Sporting Goods
12%
Groceries
21%
 
 
% of spending on online shopping of their total monthly expenditure
% of people
% spend
40
<5
33
6-10
19
11-25
6
26-50
2
51-75%
0
>75%

Age group wise comparison of spending money online
Age Group
% spend
15-20
6%
21-29
48%
31-39
28%
40-49
11%
>50
7%

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