Online Shopping in India – Pakistani Suits
Online shopping is a form of electronic commerce which allows consumers to directly buy goods or services from a seller over the Internet using a web browser.
Consumers find a product of interest by visiting the website of the retailer directly or by searching among alternative vendors using a shopping search engine, which displays the same product’s availability and pricing at different e-retailers.
India has an internet users base of about 475 million as of July 2018, about 40% of the population Despite being the second-largest user base in world, only behind China (650 million, 48% of population), the penetration of e-commerce is low compared to markets like the United States (266 million, 84%), or France (54 M, 81%), but is growing at an unprecedented rate, adding around 6 million new entrants every month.
India’s e-commerce market was worth about $3.9 billion in 2009, it went up to $12.6 billion in 2013. In 2013, the e-retail segment was worth US$2.3 billion. About 79% of India’s e-commerce market is travel related. According to Google India, there were 35 million online shoppers in India in 2014 Q1 and was expected to cross 100 million mark by end of year 2016.
Traditionally, Indians are conservative in their approach to shopping. They want to touch and feel the products and test its features before buying anything. In fact, selected price-savvy customers would also like to squeeze in an economical deal for themselves with appropriate price negotiation with the vendor. They are not the ones to accept the price at the face value. Well, nothing wrong in that as well 😉
Most of us are also a witness to the recent mall culture where all the products are available under a single roof and at competitive price points. Little needs to be analyzed about it over here as most of you might have visited a mall at least for once as a past time on a weekend, if not for shopping precisely.
Online stores typically enable shoppers to use “search” features to find specific models, brands or items. Online customers must have access to the Internet and a valid method of payment in order to complete a transaction, such as a credit card, debit card, or a service such as PayPal.
Growth in online shoppers:
As the revenues from online sales continued to grow significantly researchers identified different types of online shoppers, Rohm & Swaninathan identified four categories and named them “convenience shoppers, variety seekers, balanced buyers, and store-oriented shoppers”. They focused on shopping motivations and found that the variety of products available and the perceived convenience of the buying online experience were significant motivating factors. This was different for offline shoppers, who were more motivated by time saving and recreational motives.
Online shoppers commonly use a credit card or a PayPal account in order to make payments. However, some systems enable users to create accounts and pay by alternative means, such as
· Cash on delivery
· Debit card
· Gift cards
· Postal money order
Some online shops will not accept international credit cards. Some require both the purchaser’s billing and shipping address to be in the same country as the online shop’s base of operation. Other online shops allow customers from any country to send gifts anywhere. The financial part of a transaction may be processed in real time (e.g. letting the consumer know their credit card was declined before they log off) or may be done later as part of the fulfillment process.
Customers are attracted to online shopping not only because of high levels of convenience, but also because of broader selections, competitive pricing, and greater access to information
Online stores are usually available 24 hours a day, and many consumers in many countries have internet access both at work and at home. Other establishments such as Internet cafes, community centers and schools provide internet access as well. In contrast, visiting a conventional retail store requires travel or commuting and costs such as gas, parking, or bus tickets, and must typically take place during business hours.
One advantage of shopping online is being able to quickly seek out deals for items or services provided by many different vendors (though some local search engines do exist to help consumers locate products for sale in nearby stores
Shipping costs (if applicable) reduce the price advantage of online merchandise, though depending on the jurisdiction, a lack of sales tax may compensate for this
· Fraud & security concerns
· Lack of full cost disclosure
Online shopping isn’t bad but there are a few things that you should keep in mind while you decide to make a purchase:
· Preferably buy from trusted sites. Always look out for sellers with good ratings.
· Make sure you read user reviews of that seller as well as the product.
· Since in India, grocers and vegetable vendors are at almost every nook and corner, its best to avoid buying perishables online.
· Saving your credit card details may save you a minute while placing an order but then you risk this sensitive information in case the portal ever gets hacked. I say opt for manually entering your card details always.
· When possible, opt for Cash-on-Delivery (COD) instead of making an advance payment, so you’re safe in case you don’t get your goods on time.