Study: Online Shopping on the rise – to grow by 78% in India, in 2016.
As e-commerce rates rise worldwide, more and more Indians are searching for sources of coupons they can apply to online purchases. By most estimates, India’s total retail market is expected to more than double by 2020, with the ecommerce industry in particular projected to grow to 100 million consumers and a value of 15 billion by 2017.
The number of internet users in India is also on the rise, with the current number of 230 million users expected to exceed 600 million within three years. This means that a large portion of our population is still not using the internet; and efforts need to be made by the government and the startup and internet eco-system in India, to promote internet penetration and usage.
A recent study undertaken jointly by Yahoo and Mindshare analyses the shopping behavior of customers to reveal that 31 per cent shoppers opt for online shopping in order to save the time and effort that might be spent on physically going to stores to buy the same products. About 28 per cent customers are driven to buy online due to the availability of discounts and promotions while the convenience to shop anywhere, anytime attracts the remaining 21 per cent, it said.
The study also highlights how more and more customers are taking to mobile phones to make online purchases as compared to other electronic devices.
Average online purchases in India are expected to increase by 78 percent this year on the back of attractive deals and aggressive marketing of merchandise, industry chamber Assocham said on Sunday. “Unfazed by slowdown, average online purchases are expected to increase by 78 percent in 2016 from 66 percent in 2015, due to attractive deals and aggressive marketing of ever-expanding range of merchandise from clothes to jewellery, from electronics to books,” said a study by Assocham and international accounting firm Pricewaterhouse Coopers.
“The ecommerce landscape in India is perhaps the most dynamic in the world, largely due to the rapidly evolving mobile ecosystem. This research highlights the role of mobile from the top of funnel to the bottom and how it varies across product categories. It will help us develop sharper, more connected communication strategies for brands,” MA Parthasarathy, Chief Product Officer, Mindshare South Asia said.
India’s Price-minded consumers are searching frequently, for coupons and discounts, related to a variety of products and services, from food delivery, groceries and taxi services to travel, mobile phones, electronics, fashion, health, beauty, home decor and more.
One new website hopes to offer this growing discount seeking community, the information they crave and helping them save money on their online shopping, bill payments, purchases and everything else online. CouponMint offers more than 8,000 live coupons and offers to more than 1,200 online stores and services in more than 80 categories. All of the coupons, deals and offers to major online retailers and service providers are verified and updated regularly to ensure that they are still active. The site also offers a price comparison feature and cashback offers.
‘Smart people save money; and we built couponmint to help consumers in India do just that,’ Vinay Dhiman, spokesperson for Couponmint.
Anyone who loves saving money by using coupons needs to sign up for couponmint’s email list to receive notices on the latest online coupons, discount offers and deals. couponmint aims to be India’s leading online coupons & deals website, pointing online consumers to the best information so they can save money, where and when ever they need it the most! Consumers can find the latest & verified coupons, promo codes, discount deals & cash back offers from 1200+ online brands, stores & services in a comprehensive 80+ categories on couponmint’s website. All discounts are available in Nine (9) Indian Languages so as to ensure that everyone is able to make the most of them, regardless of language barriers or preferences etc. At couponmint, the motto is – ‘No Bargaining, Only Couponing, Saving & discounting!’
You can visit couponmint, India’s Largest Online Coupons, Promo Codes, Discount Deals & Cashback Offers Website, at www.couponmint.in
(Adapted from Press Release of CouponMint)