Every Valentine‘s Day our phones are flooded with messages on discounts on food, jewellery, gift cards, toys and the list is endless. But an important trend to watch out for in the last few years is the rise of e-shoppers.
Every Valentine’s Day our phones are flooded with messages on discounts on food, jewellery, gift cards, toys and the list is endless. But an important trend to watch out for in the last few years is the rise of e-shoppers.
Shoppers say no to cash
Mastercard Love Index reveals that technology is helping fire cupid’s arrow with Asia Pacific having seen an 81 percent increase in online sales over the last three years.
As per an Assocham report, in 2014 during the Valentine’s week, more people shopped online and an estimated share of online shoppers in 2015 was 32 percent. There was a stark increase in number by around 12 percent as online shoppers in 2014 were 20.5 percent.
Even towns and villages too are not far behind in expressing their love. According to the findings by Assocham in 2015, rural spending during the V-day increased by over 22 percent as against urban spending of 20 percent in 2014.
"During the Valentine week the shoppers are in high spirits. This year we have seen 12.5 percent growth as compared to last month and 25 percent additional orders over the target,” said Manu Agarwal, Founder & CEO, Naaptol.
He also said that the pangs of demonetisation have receded and customers have started to spend again. “We hope the trend continues to be so in the future too. Apparel, jewellery and footwear category has seen a spike in this month", added Agarwal.
Why people opt for online shopping?
Online shoppers prefer to buy online because online retailers offer better deals. Shoppers say that online shopping comes either with free delivery or delivery charges that do not pinch their pockets. Sending gifts via delivery also involves an element of surprise.
Demonetisation has turned the tables for cash driven businesses as more and more consumers prefer e-commerce sites for shopping rather than a traditional shop. Apprehensions regarding online buying is fading and even companies are leaving no stone unturned to bring customers to their digital platform.Subscribe to Moneycontrol Pro and gain access to curated markets data, exclusive trading recommendations, independent equity analysis, actionable investment ideas, nuanced takes on macro, corporate and policy actions, practical insights from market gurus and much more.