A Recent study by WalkerSands , well-known digital marketing agency reveals few of interesting trends based on the online shoppers in the USA. As per this study, More than 80% of the polled shoppers prefer to shop online because of the lure of Free Shipping.
Apart from this, the One-day Shipping and Free returns/ exchange top the list with more than 60% each.
Another interesting aspect this study has covered was the integration of online and Offline store.
The study reveals few important facts about Online – offline business model and as per this,
Consumers still prefer in-store experience when it comes to food and groceries. Also, they prefer to make purchases in physical stores for all product categories except for books (68 percent prefer online), consumer electronics (67 percent) and office supplies (51 percent).
The study also covers the payment option and this shows that people are still uncomfortable paying money using the mobile phone due to privacy and security reasons .Therefore, the mobile payment option is not as success as it was expected to be earlier.
Let’s take some time to compare this to our Indian Market….
Does Free Shipping Model Work in India?
Why not? It should work since everybody loves anything and everything associated with “Free”
Back in India, the situation is no different. While the big e-commerce players like Amazon, Flipkart and Snapdeal have a free shipping option for many of the products but there is a minimum purchase requirement for avail this facility. I wonder if they ever do away with this minimum purchase requirement to make this happen.
How About the Omi-Present Business Model?
In India, few of the online stores like Firstcry and Lenskart have already begun to experiment the omnipresent business model, we are yet to ascertain the outcome. However, it is worth mentioning that this model has worked pretty well for the baby product stores like Firstcry and Babyoye as the customers feel more safe buying products for their kids. They have grown from strength to strength by slowly increasing the number of offline stores across the country.
The Mobile Banking Method
While the players like Paytm are betting big on this, the market is still in nascent stage and therefore needs much more time to succeed. Paytm’s payment service is expected to launch in August this year.
That said there are few other big players like Reliance who have shown interest in this.
Let’s wait and watch for more on this.