72% customers increased the speed of purchases with e-commerce platforms- Report
New Delhi| Due to the increase in mobile phones and internet, the number of people buying through e-commerce is increasing rapidly even in small areas of the country. 72 percent of customers believe they have increased their purchases from e-commerce platforms. 21 percent said, they are buying as much as before. However, seven percent have done less shopping.
The report released by FICCI and Deloitte on Monday said that the e-commerce sector is rapidly growing the market in tier II and III cities. The income of middle class people is increasing. In such a situation, e-commerce is getting help from this. According to the report, the e-commerce market was expected to surpass $85 billion by the end of 2023.
According to the report, 59 per cent believe that e-commerce offers good goods at low prices. That’s why they buy. 59 per cent of people go because of facilities. 56 per cent said, they have the luxury of making returns when there is no goods of choice. 51 percent buy because they get special offers. Seven percent said their procurement experience was good. In the survey, 45 percent of people said that they order groceries from Quick Commerce, because it is delivered quickly. 49 per cent of people in metros and 47 per cent in first-tier cities order goods from quill commerce. 50 per cent of women also use this platform. 43 per cent of men use.
Small towns are the reason for growth
According to the report, second-tier cities are emerging drivers of growth. They buy electronics goods online once or twice a year, 47% said.
39% believe they buy once every quarter. They buy gadgets monthly or quarterly, 43 percent said. 8% of women also believe in buying gadgets online. The consumer market will be worth two trillion dollars The report said that a dedicated consumer sector council should be created for innovation, digital transformation and supply chain efficiency. This step can inspire us to achieve the $2 trillion consumer market. With the above steps we can ensure that by 2030 we become the third largest consumer market.
According to the report, 46% of people in home, beauty and personal care are buying from modern channels. 18% are buying from normal channels and 25% through e-commerce. In consumer and health goods, 24% of people resort to e-commerce. 33 percent use a modern channel. People with an annual income of less than $24,000 are spending less because of inflation. Those with incomes above $60,000 insist on shopping for promotions and discounts. 78% of customers believe they are willing to pay higher prices on health products. 63% of people are willing to pay a higher price for natural and 55% for organic products.
They spend less than 20 percent of their income on the purchase of online electronics, 65 percent of the survey said. 37 per cent of people spend more than 20 per cent. 45 percent of Indians have faith in the local brand. FMCG is the fourth largest sector in the Indian economy. In 2023, it was worth $144 billion. This provides direct employment for 3 million people. 22% of urban customers buy FMCG products from e-commerce. 12% of people buy from Quis Commerce. 25% of people buy from normal channels.
