E-Commerce getting popular in India

E-Commerce getting popular in India

Online shopping was never a hot thing in India. However, times are changing and the Indian consumer is looking towards the internet to get products of their choice. This festive season has been a revelation for the market analysts as the reports show that online sales during the recent festive season have zoomed by a whopping 117 per cent to Rs 115 crores from Rs 53 crores in the same period last year. These figures were released by the Internet and Mobile Association of India (IAMAI), an industry trade organization.

As the broadband connectivity becomes widespread in the area, more and more consumers are now online and they are trying out the online stores for their shopping requirements. Online sales clocked 8,10,000 (plus) transactions in just 3 weeks ahead of the Diwali week registering a 135 per cent increase against the 3,45,000 transactions registered during the same season last year.

As per the reports, as many as 4,15,000 consumers opted to shop online with an average online transaction value of an impressive Rs 1,420. In fact, these figures are now close to representing over 10 per cent of the total Indian sales estimated at Rs 1,180 crores for this year. Preeti Desai, IAMAI president said in a statement: “With ecommerce revenues set to cross the Rs 1,180 crores for 2005-06 and the growing Internet user base (currently over 32 million), it has been a sparkling Diwali and Eid in 2005-06. Gift sales in two weeks prior to Diwali have shot up to 61 per cent against 54 per cent last year. We are fairly confident of the next wave of ecommerce.”

Some statistics to highlight the online shopping trends:
Sales online jumps 117% to Rs 115 crores
Over 4,15,000 shoppers do 8,10,000 transactions in 3 weeks
Higher-end products above Rs 7,000 most preferred
Major sales during five days ahead of Diwali
Dhanteras, Bhau Beej push up silver, gold coin sales
Consumers transact from offices, homes, and cybercafés

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