ARE INDIANS BUYING ONLINE?
Are Indians buying online? As per IOAI forecasted estimates, e-commerce transactions will cross the Rs 2000 mark (2006-2007) which translates into an increase of over 300% from financial year 2004-05.
The relationship between the Internet and commerce has passed its nascence. According to the estimates by IOAI, online shopping crossed Rs 430 crores to Rs 570 crores in 2004-05. The turnover is further expected to increase to Rs 1180 crores in 2005-06.
The Internet offers an audience that will grow to a 100 million users by 2007-08, unlimited shelf space and isn’t bound by operational timings and geographical boundaries; with an opportunity to cater to country wide city markets (for consumers and suppliers alike) at a comparative miniscule cost.
This four fold population increase raises a pertinent question to many a business and enterprise ’How should you embrace this medium?’ This research reports deals specifically with that premise and arms any reader with an arsenal of information to start/improve his online shop / enterprise in his core competitive area.
• The E-Commerce Industry:-
570 crores worth of E-commerce conducted online in 2004-2005 to grow to Rs 2300 crores by 2006-2007, an estimated 300%+ growth.
• The E-Commerce Site Visitor:-
55% of visitors to ecommerce sites have adopted the Internet as a shopping medium.
• The Regular Online Shopper:-
Of the 55% of online shoppers [Base 1716] – 87% [1493] of shoppers have shopped more than once and have been termed ’as regular shoppers’. They form the ‘base’ for this report of users who have transacted online to buy products & services ‘more than once’.
Are Indians buying online? As per IOAI forecasted estimates, e-commerce transactions will cross the Rs 2000 mark (2006-2007) which translates into an increase of over 300% from financial year 2004-05.
The relationship between the Internet and commerce has passed its nascence. According to the estimates by IOAI, online shopping crossed Rs 430 crores to Rs 570 crores in 2004-05. The turnover is further expected to increase to Rs 1180 crores in 2005-06.
The Internet offers an audience that will grow to a 100 million users by 2007-08, unlimited shelf space and isn’t bound by operational timings and geographical boundaries; with an opportunity to cater to country wide city markets (for consumers and suppliers alike) at a comparative miniscule cost.
This four fold population increase raises a pertinent question to many a business and enterprise ’How should you embrace this medium?’ This research reports deals specifically with that premise and arms any reader with an arsenal of information to start/improve his online shop / enterprise in his core competitive area.
• The E-Commerce Industry:-
570 crores worth of E-commerce conducted online in 2004-2005 to grow to Rs 2300 crores by 2006-2007, an estimated 300%+ growth.
• The E-Commerce Site Visitor:-
55% of visitors to ecommerce sites have adopted the Internet as a shopping medium.
• The Regular Online Shopper:-
Of the 55% of online shoppers [Base 1716] – 87% [1493] of shoppers have shopped more than once and have been termed ’as regular shoppers’. They form the ‘base’ for this report of users who have transacted online to buy products & services ‘more than once’.