customers who shop onlineCeri Griffiths
To attract customers to shop online, e-retailers and marketers offer discounts to the customers who buy online. A customer can get a 30 percent discount if he is an online shopper. This is similar to the discount that a customer of a brick-and-mortar store gets when he buys from a special retailer.
Online shopping gives the freedom to shop not only at the early hours but also in the late hours of the day or the night.
As such, the convenience of fast internet access is often crucial in this regard. The use of internet shopping portals is rising in the country. There are now more than 10 million unique internet users in India, and over 50% of these users use internet shopping portals to find products.
As per the Indian IT industry body Nasscom, online shopping penetration has increased from 21% in 2011-12 to more than 50% in 2016.
“Due to increased access to data networks, retail and wholesale markets are quickly evolving to become increasingly digital and are becoming increasingly competitive for retailers,” says Mr Ajeet Bhushan, Director, Nasscom.
According to the National Retail Council, India’s retail market is expected to reach Rs 9 lakh crore by 2020, an increase of 30% over 2012-13. The growth is driven by expanding consumer base, increasing disposable income, and changing consumer habits and habits of consumers. This segment also has the fastest growth in terms of size of the online consumer base. In 2016, the online consumer base is expected to reach a staggering 150 million consumers. Online retail now accounts for 4% of retail sales, more than double the share of the earlier years, as per a recent survey done by The Economist. Online shopping through e-commerce is becoming a significant driver of economic growth, particularly in emerging markets where the internet penetration is high and the demand is high for retail goods and services.
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