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95% Online Shoppers Are Attracted To The Cashback Concept [Survey]

95% Online Shoppers Are Attracted To The Cashback Concept [Survey]

According to IAMAI Report 2013 the ecommerce market grew by 33% to Rs.62,967 Crore and is expected to see a further rise over the next five years!

A recent ‘Cashkaro Online Shopping Trends’ survey revealed that more than 60% online shoppers use Discount Coupons and Cashback, While discount coupons registered 33% votes, Cashback received 29% votes with respondents having used the offer recently. What’s more, Indians are also spending big – more than 40%  Indian customers spend over Rs 10,000 online (exclusive of travel) each year and 10% online shoppers declared spending a massive Rs 50,000, on an average each year!

RelatedHow Ecommerce In India Has Made It Big With Deals And Discount Portals

Rohan Bhargava, Co-founder, Cashkaro.com adding to the Survey said, “With India’s e-commerce market projected to grow manifold in future with improving Internet infrastructure, it will become easier for the country’s nearly 200 million online population to shop on – the – go. With this survey, our belief that India is price sensitive, has been proved again and Indians are now realising the potential of Cashback and Coupons a lot more.”

The ‘Online Shopping Trends Survey’ of more than 3200 online shoppers revealed some other interesting facts:

Lucrative Savings an Impetus

  • Results displayed that 95% online shoppers were attracted to the Cashback concept.
  • 27% of the respondents stated that they use Cashback and Deals because of lucrative savings.
  • Lower Prices came second with 25% and 22% chose ‘Convenience’ as an encouraging factor.
  • 16% said it was the ‘Variety’ online whereas 10% preferred to shop online for the Easy Returns Policy

Hottest categories

  • ‘Electronics’ garnering highest 23% votes. ‘Fashion and Apparel’ came second with 21%
  • ‘Mobile Re-charge’, which is more of a service, registered with 20% and Books with around 11%.
  • Travel Bookings & Ticketing registered 10% and Health & Beauty came next with 9%.

Favourite Online Destination

  • Netty shoppers ranked Flipkart.com highest with 26% votes; Amazon.in was positioned at second place with 21%.
  • Fashion & Apparel leader Myntra.com received 20% votes. Competitor Jabong followed suit with 15% popularity.
  • While Paytm received 12% votes, Other Sites received a consolidated 6% votes.

Important Criteria or Concerns when Shopping Online

  • 30% respondents chose ‘price’, whereas 29% said ‘quality of product / service’ is priority.
  • ‘Payment Security’ stood third in the list with 17% and ‘Delivery’ was voted fourth with 15%.
  • ‘After-sales Service’ followed next with 8% and ‘Presentation’ on the site received a marginal 0.71%.

Preferred Payment Method

  • Cash-on-Delivery was the most preferred with 44% respondents followed by Debit Cards rated No.2 with 25%

Hotspots in India

  • Most shoppers were from the larger cities such as Delhi/NCR registering 23%,
  • Mumbai with 12%, Bangalore and Hyderabad with 9% each followed by Kolkata, Chennai, Ahmedabad and Jaipur.

Here is a infographic revealing these facts:

Cashkaro.com - Online Shopping Trends Survey - May 29, 2014

Related: We aim to cross the Rs. 5 Cr mark in cashback paid to members by end 2015, Swati Bhargava, CEO, Cashkaro.com

Author

Team Inc42

Inc42 Staff

Inc42 Media is a digital media startup known for its end-to-end coverage of the Indian Startup Ecosystem. Inc42 has published 13,000+ stories so far and touch the lives of over 10 million people every month. Join us and be the part of the startup revolution.

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