Online shopping is estimated to cross Rs 10,000 crore this Diwali, according to a survey
Those days are passe when festive shopping meant spending the day on streets braving traffic jams. Online shopping has come to the rescue of those who dreaded the idea of shopping in overcrowded malls and markets. This Diwali more Delhiites are opting to shop online rather than in the malls and markets. As per the recent survey by ASSOCHAM, online shopping may increase by 350 per cent during Diwali as against the jump of 200 per cent in August-September. Shopping malls have already started feeling jittery as the footfalls in Delhi-NCR malls is likely to go down by 55 per cent.
During Diwali, online shopping is estimated to cross Rs 10,000 crore. The online retailing may see the biggest flip ever in the history. This trend will continue to grow by leaps and bounds. “At present the market is estimated at Rs 12,000 crore and could cross Rs 1,00,000 crore a year in India over the next three to four years”, reveals the ASSOCHAM paper.
The survey reveals that there is more than a five-fold increase in revenue generated through e-commerce as compared to last year as all branded apparel, accessories, jewellery, gifts, footwear are available at a cheaper rates and delivered at the doorstep within two to three days.
While releasing the ASSOCHAM paper its secretary general DS Rawat said, “Everyone is connected 24x7 through their smartphones, tablets and other mobile devices which is leading to a gradual evolution of e-commerce into mobile commerce”.
The report further said that fast and simple payment and delivery service are encouraging people to shop online. “Apart from convenience, rising fuel price, security reasons, online discounts and availability of choices are keeping consumers indoors”, said Rawat.
Majority of retailers are calling the season the ‘first online Diwali’ as more consumers choose to browse and buy from mobile devices and tablets. With services like click and collect growing in popularity, retailers are adding to the options available, enabling their customers to shop online.
As per the report, the online shopping pattern has been changing in metros and tier I or tier II cities, where the broadband Internet connectivity has already penetrated. The most popular among the e-commerce websites are Snapdeal, Myntra, Flipkart and Amazon, among others, who have been doling out massive price cuts or discounts for the festive season.