Technology making online shopping popular but trust will be the biggest driver pw c study

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Out of a total of 1,006 respondents surveyed as part of the PwC study from India, 34 per cent opt for making purchases through the internet on a monthly basis and buyers in India are now increasingly opting to purchase product categories such as furniture, homeware, grocery and do-it-yourself items.

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Technology making online shopping popular but trust will be the biggest driver pw c study

  1. 1. Technology making online shopping popular but trust will be the biggest driver: PwC study Udit Prasanna Mukherji, TNN | Feb 6, 2014, 01.14PM IST KOLKATA: Online shoppers in India are almost at par with their global peers in their shopping habits, despite online shopping being a recent phenomenon in India. This is owing to the growing popularity of technologies such as social media, smart-phones and tablets. Out of a total of 1,006 respondents surveyed as part of the PwC study from India, 34 per cent opt for making purchases through the internet on a monthly basis, with the global average being 33 per cent. While clothing, footwear, consumer electronics, household appliances, books, DVDs are the top product categories for online shopping, buyers in India are now increasingly opting to purchase product categories such as furniture, homeware, grocery and do-it-yourself or improvement items through the online medium, which traditionally were purchased in-store. This is different from their global counterparts who still have not opened to buying grocery or sports equipment items through the online medium. These findings are part of a PwC report titled 'Total retail: A change is underway' that gives insights into buying behaviour of shoppers in the retail space, the key factors that influence the medium of purchase (online vs. brick-and-mortar). Rachna Nath, Retail and Consumer leader, PwC India said, "For too long, the customer has been of interest only to Sales and Marketing department. Today, that is changing. Consumers empowered by technology are now making sure that their shopping experience is not what companies want to give but what the consumer wants. This changing behaviour is driving a change in the business models. It is no longer about having multiple channels but about making them work across seamlessly, where a consumer browses online and buys in-store or vice versa. This again has to be supported by a strong supply chain, the strategy for which needs to be built into the business model. This concept of 'Total Retail' will drive buyer behaviour going forward." Indian online shoppers believe in choosing from abundance. The number of e-commerce retailers that Indians shopped from within the last one year is more than ten. This figure is way above the developed economies, where people restrict themselves to two to five retailers. The report states that the main reason for buyers to opt for online shopping vis-a-vis traditional brick-and-mortar stores are lower price, full range or more choices, stock availability, better warranty / guarantee and better service. Source: http://timesofindia.indiatimes.com/business/india-business/Technology-making-online-shoppingpopular-but-trust-will-be-the-biggest-driver-PwC-study/articleshow/29944573.cms

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