India is a massive E-Commerce marketplace now with every age group comfortably transacting online – more often preferring shopping online instead of visiting offline stores for a bigger gamut of choices and offers.
The Asia-Pacific region is currently the largest E-Commerce market in the world, surpassing Europe. While China continues to lead the race, the Indian E-Commerce Industry isn’t far behind. Here are some Quick Facts about the Indian E-Commerce Industry.
- Men in India shop 3X more than women: Surprised? While women continue to dominate the in-store markets, men with disposable incomes have taken it upon themselves to play the larger role in online shopping.
- Cash-On-Delivery (COD) remains the most preferred online payment method. We Indians love the Cash-On-Delivery option; it gives us more control over online transactions since we don’t have to pay until the product is at our doorstep. COD option during checkout has also been proven to boost impulse purchases.
- 60% of online purchases happen during business hours. (9AM – 5PM) This proven trend is a myth-buster, that shows how integral a part online shopping has become in our day-to-day lives. Marketers can use this fact to schedule their promotions across advertising channels accordingly.
Now that we know of Indian men shopping more frequently than their fairer counterparts, retailers are recommended to tailor two different messaging strategies for the two separate genders.