Online shopping behavior in India has been witnessing drastic changes over the years. With an estimated annual growth rate of 70%, the Indian e-commerce industry has become a source of attraction for aspiring local and global firms.
In the initial years of online shopping, consumers restricted themselves to purchasing electronic gadgets. However, the expansion of the product range by online retailers has kindled a keen interest in consumers to shop for products of various categories, like books, furniture, outfits and jewelry. Multiple methods of payment have made it convenient for buyers to carry out transactions online.
With a majority of consumers below the age of thirty, mobile commerce or m-commerce is proving to be the most popular means of online shopping. Mobile shopping gives an opportunity to consumers to browse through products anywhere and anytime. However, around 65% of web-based purchases are made using personal computers, as reported by digital marketing and analytics firm Socrati.
A study has revealed that people in the age group between 30-45 years show greater interest in shopping online in comparison to other age groups. As this age group constitutes the working population, a significant number of online transactions have begun taking place due to a positive correlation between disposable income and the tendency to shop online.
The number of male consumers who shop online is thrice the number of female consumers in India. Such statistics highlight gender differences amongst Indian consumers. Research has also revealed that teenagers account for the maximum number of smartphone purchases in India, thereby boosting smartphone sales in the industry.
Embracing the diversity of India in terms of culture, traditions, incomes and religions is an enormous challenge for start-ups and successfully established firms. Dealwithus, a start-up established by a group of IIT-B students, goes one step further to win the hearts of Indian consumers by guaranteeing cashback facilities and exciting offers through coupons.
With more than 300 websites as partners, Dealwithus has made it easier for consumers to avail of the best of offers and get exposure to various noteworthy organizations. The start-up can go a long way in expanding its client base by specializing in a particular service or by implementing innovative marketing strategies.