The Internet has become a popular channel during the last decade for shopping and is adding value to the retailing world. India’s
e-commerce market is also growing in all product categories. Consumer spending at apparel websites is rising, and it is presenting a
tough revenue war in this segment, which had traditionally been dominated by physical stores. The efficiency of consumers in online shopping has increased due to the accessibility of exhaustive product information,
intelligent comparisons and reduction in customer search
costs.
An article from the journal Vision presents a report of the Associated
Chambers of Commerce and Industry of India (Assocham)
on online shopping, India’s e-commerce market has
reached US$ 8.5 billion in 2012, compared to US$ 2.5
billion in 2009. The market has shown a rise of 88 per cent
with US$ 16 billion in 2013.
Online apparel sales has become the second-most
profitable e-commerce domain worldwide after jewellery
and automobile . Consumer spending on
apparel websites is growing, and it is presenting a tough
revenue war in this segment, which had been traditionally dominated by dominated by physical retail stores. The article also presents analysis on the ratio of males and females opting for online shopping and also the average amount of money spend by people in doing the same.
Major driver for this growth in the apparel
segment is due to aggressive online discounts, search of
better deals, rising fuel price and so on. Manufacturers and
brand managers are earning enormously through online
sales and its various benefit across other distribution
channels. Moreover, Internet users avail this medium
three times more to get updated on clothing fashion
than others. Majority of them buy clothing
online. Shoppers who are highly brand and fashion
conscious are more inclined to buy clothes online than
shoppers with other consumer styles. Value-conscious
shoppers spent more time in purchasing clothes online,
which shows that they not only derive pleasure from shopping
but also are attracted by the financial benefits associated
with online shopping.
Social influence is also a positive predictor for online
shopping frequency and spending. People like to follow
their friends and family to shopping destinations. These
findings imply that people who enjoy shopping will
encourage online apparel consumption. With all these findings we can conclude that a good number of online apparel purchases
are planned, and buyers are more value conscious than
impulsive.
Register now to read full article
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