Internet provides a platform for the humankind to access data over the internet, communicate with each other and get entertainment. Online marketplace is the most engaged activity for people online.
The current growth of online marketplace and the consumer’s increasing interest in shopping over e-commerce sites have significantly changed the face of Indian retail market. Nowadays customers are more inclined towards shopping online due to technological advancements and benefits of online shopping. The growth in online sales can be partially assigned to the Internet’s advantages of giving access to large amounts of information quickly and inexpensively and its growing accessibility.
Following statistics show the increasing inclination of consumers towards e-commerce in India:
– India currently has a base of 150 million internet users which accounts to be the third largest in the world.
– Access of internet over mobile devices has almost doubled every year since last decade.
– Number of users accessing the web through mobile devices has almost doubled every year since 2009.
– The e-commerce market is worth around 9500 crores in India. Online marketplace is rising up to 8% -10% globally, however it grew up to 30% in India.
– Online consumer market in India is currently around 20 million which projects to rise as much as 1400% and reach 300 million people within next 10 years.
E-commerce consumer behavior.
According to latest studies on customer behavior, it was inferred that the customer demographics affect the purchase pattern in a significant way. Some of the factors affecting E-commerce shopping are customer traits, previous online shopping experience, internet self-efficiency, shopping patterns, economic benefits and risk perception.
– The results show that the young population tend to buy more from ecommerce website.
– The study also indicates that the people living in suburban areas rely more on ecommerce as compared to those living in metropolitan area.
– The consumers who seek convenience & variety do more shopping online and are more. They also found that such people are also more innovative and spontaneous shopper.
Online shopping has become a hassle-free experience due to the phenomenal growth of World Wide Web. A wide acceptance of internet technology in the field of retail sale has changed the traditional shopping in physical stores. The internet provides a platform that is easy to maintain, and online advertisements are also affordable for small businesses. We at Global Info Cloud provide you with the best digital marketing solution for your online businesses.