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Press Trust of India|May 24, 2023
NEW DELHI: Indian Institute of Management (IIM) Ahmedabad released a survey report centred on emotions of consumers indulging in online shopping on Monday. The report titled 'Digital Retail platforms and consumer emotions: An Indian perspective' concluded that people belonging to tier 2 and tier 4 cities, indulging in online shopping have spent 77 percent more money than people residing in the tier 1 cities.
The IIM-A survey report revealed that 90 percent of consumers spent less than Rs 10,000 in their last online shopping. Moreover, it found that the male consumers spent 36 percent more money than female consumers in their last online shopping transaction. Also, consumers up to 35 years are more fond of online shopping compared to others.
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“Browsing online has become a favourite means to pass time for consumers, who visit digital retail platforms every two or three days. Consumers spend almost 35 minutes in online shopping and 72 percent of consumers resorted to online shopping in the thick of Covid-19 pandemic”, the release issued by the institute read.
The report also stated that clothing and fashion products were the preference for female consumers, while men preferred to buy electronic products online. Adding to the statement, it said that consumers under 35 years of age sifted through more than two websites for online shopping, while consumers over 60 years of age looked up only on one online shopping platform for their purchase.
The survey was authored by professor of information systems and strategy, Pankaj Setia, chairperson of the centre for digital transformation (CDT), Swanand Deodhar and CDT research manager Ujjwal Dadhich. The report offers insights into digital retail adoption across India and how it has transformed into a shopping option for the people of the country, residing in both urban and rural India.
Pankaj Setia said: "The use of technology for retail is revolutionising how India consumes. We are very excited to share the emerging trends that will help retailers, policymakers and others to harness the power of technology for creating valuable retail ecosystems".
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