While global behemoths like eBay, Amazon continue to rule the e-commerce space. Scores of niche e-commerce, Groupon-like group buying and exclusive ‘invitation only’ websites have added an element of zing into what is primarily a Web 1.0 business model. Not only that, they have also succeeded in exploiting every shop-a-holic’s weakness – bargains! People who follow the Internet and Bargain-hunters need no introduction to the concept of Group Buying. The model evangelized and popularized by Groupon and several clones all over the world, has found acceptance in India as well.
ViziSense, an online audience and ad measurement platform has shed some light on the online shopping habits of the Indian consumer. No prizes for guessing that the ‘New Age e-commerce’ formats reported huge increases in terms of number of users and traffic. According to them, Fashionandyou.com and bagittoday.com attracted more than 10 lakh users each in September and moved into Vizisense’s top 200 Indian websites.
According to Amit Bhartiya, VP &GM – ViziSense - “This is an indication that the Indian consumer behavior is finding these formats extremely interesting, engaging and beneficial and the upward shift in buying and transactions on these sites is clearly visible. The findings from ViziSense showcases formation of new-age communities on these sites that understand the value of group buying and word-of-mouth recommendations within the community that leads to volume discounts and great deals for everyone.”
The report also has notes two other significant(but hardly surprising) trends:
- Acceptance was higher in western and southern states as compared to the north. This is probably due to the concentration of technology workers in the states of Maharashtra, Karnataka and Tamil Nadu.
- Favorable adoption by youth (15 – 24 years) and with an income of less than Rs 2 lacs.
What works in their favour is their ability to take advantage of the ‘Viral Loop‘ thanks to popularity of social networking. Daily deals spread like a forest-fire over these networks. I would also be interested in seeing stats for repeat usage of these sites because bargain hunters can often find themselves addicted to such social shopping services. And that’s where the money lies – repeat shoppers.
What are your thoughts on ‘new-age e-commerce’? Let us know.
If you enjoyed this post, make sure you subscribe to our RSS Feed OR Email Alerts!
Categories: News, Reports, Views, Web
Tags: Baggit.com, bargains, daily deals, e-commerce, FashionandYou.com, group buying, groupon, invitation only, new age e-commerce, niche e-commerce, social shopping, vizisense
No comments:
Post a Comment