The Indian business-to-consumer (B2C) e-commerce market
is expected to grow by 88 per cent in 2002 to reach Rs
to a forecast by the International Data Corporation (IDC),
which tracks the information technology market, B2C spending
will cross Rs 2,300 crore by the end of 2006 at a CAGR
of 79 per cent.
IDC press release said it did extensive research among
the Internet shopping websites and the people who have
actually bought on the Net to map the B2C e-commerce market
terms of volume of transactions, music CDs, gift items,
books, and consumer electronics topped the list, but in
rupee terms, gifts and consumer electronics were at the
top, closely followed by travel.
Myer, head, Internet, communications and convergence research
at IDC (India), says: Travel has emerged as the
fastest growing category for the B2C e-commerce segment.
Currently it is estimated to be contributing 23 per cent
to the B2C market and is expected to account for nearly
60 per cent of the B2C market by 2006. With the railways
and domestic airlines launching online sale of tickets,
this segment is expected to grow at 140 per cent.
phones are the second-fastest growing segment.
commerce has also grown by around 70 per cent over 2001
and is estimated to be Rs 210 crore for the year 2002.
Financial services and home loans account for 45 per cent
of this segment, followed by automobiles and real estate.
survey among those who have actually bought through the
Internet showed that while 40 per cent preferred shopping
in focused shopping sites, an equal number did not distinguish
between shopping sites and portals offering shopping among
other things. www.bazee.com
was a strong favourite, with nearly 35 per cent of the
buyers having transacted on this site.
on delivery is the most preferred mode of payment, followed
by credit cards.
Jindal, senior analyst, ICCR, said: What is heartening
is that more than 80 per cent of net buyers termed their
online experience as satisfactory or highly satisfactory.
This is very important because these people will act as
referrals for these shopping sites and will be instrumental
in getting more people to the net. Prompt customer service
and ability to track the order is something that most
of the buyers value.