Indian buyer look for Convenience & Discounts while buying online

Surprise! Surprise!! A recent survey says that nearly 50% of Indians feel that service is more important than price Recent survey proving it to be a myth that India is an extremely price conscious market. That’s the nice way of saying we don’t mind cheap goods. Beyond wide range of choice buyer look forward for deep discounts & service. Indian consumer now talks about convenience and shopping experience over cost and variety. Seems like a good trend for India retail but this will make companies more conscious about delivery what they promise.

No time for Shopping: Alternate Retail on Rise in India

Alternate retail includes, online shopping, TV Shopping, direct selling

Trends in Alternate Retail:2013

Life is becoming busier in urban India. As per recent study an average urban Indian spends just six days in a year on shopping. At other times, it is alternate retail that swoops in to help. Alternate retail is already a $2.2 billion industry in India, thanks to increasing work pressure, need for work-life balance and challenges of transportation in big cities

While both direct selling and e-tailing are clocking in over a billion dollar in revenues annually in India, home shopping on TV has become a $200-million market, growing at a CAGR of 20 per cent in the last three years, according to the study by consultancy firm Technopak.

Over 50 per cent of those shopping through TV are from the metros while tier 2 and tier 3 cities bring in 60 per cent of the revenues for e-tailing industry.

Convenience and reach are primary driver for growth in alternate retail. Most active cities are Delhi-NCR, Mumbai, Hyderabad, Bangalore and then comes the tier 2 cities. For tier 2 & tier 3 cities its all about selection and then convenience

 Technopak says the trend towards alternate retail will continue to grow in the coming decade. “Brands and retailers will need to look at alternate retail channels as an integral driver of growth in the coming decade,”

Source: The Hindu & Technopak