ANALYSIS OF ONLINE SHOPPING PATTERN OF POPULATION ZGeneration Z, also known as Centennials, iGeneration, Post-Millennials, or Homeland Generation refers to the population which were born between the years 1995-2010 and they are commonly known as the youth. We all know that the youth are the most populated age group in India and are also known as dynamos for their potential. Online shopping has proved to become a new trend of shopping nowadays and is quickly becoming an important part of our lifestyle. Due to a wide spread internet access by people and increasing e-commerce usage by traders, online shopping has witnessed a massive growth in recent years.
The youth have mainly been involved in online shopping. Unlike their older counterparts, teens like to visit Amazon. It is the most used website by both male and female youth, capturing 43 percent of internet share.
Followed by Amazon, popular sites like Nike and American Eagle, gather 5% of teen visits. eBay suffered a small decline in share, gathering 2.5% of teen attention. Social media is the driving the adoption of online shopping in India. The retail sector in India is booming both online and offline. India is a relative latecomer to the online shopping revolution but it is predicted that online sales will grow by 50% annually in the next few years.
The country is already the third largest nation of internet users with a population of over 120 million and the rapid uptake of mobile commerce is predicted to increase the number of users to over 330 million by 2015.Social media is helping to drive the development of online shopping. Increasingly a large chunk of young internet savvy customers are spending more time and money online and in doing so are influencing shopping trends. The popular products brought online include books, consumer electronics, travel, financial services, apparel and beauty care.Online shopping activity is concentrated in major urban conurbations with Mumbai being the main centre followed by Delhi and Kolkata.
Consumers find a product of interest by visiting the website of the retailer directly or by searching among alternative vendors using a shopping search engine. Once a particular product has been chosen on the website of the seller, most online retailers use shopping cart software to allow the consumer to add multiple items and adjust quantities, like filling a physical shopping cart or basket in a conventional store. A checkout process follows (continuing the physical-store analogy) in which payment and delivery information is collected, if necessary. Some stores allow consumers to sign up for a permanent online account so that some or all of this information needs to be entered only once. The consumer often receives an e-mail confirmation once the transaction is complete. Although full credit card numbers, expiry date, and Card Security Code, or bank account and routing number should not be accepted by e-mail, for reasons of security, less sophisticated stores may rely on consumers to phone or e-mail their orders. .
According to the chart there have been changes in the preference and tastes in online shopping. In 2003 when online shopping wasn’t that famous customers preferred 36% in travelling and that includes booking tickets, hotels etc. where as in 2013 there was a decline from 36% to 29%. In 2003, 24% of the population bought clothes online whereas in 2013 only 16% of the population bought clothes online. Clothes and Travel are the categories where we have seen decline in the demand. In 2003 books faced a demand of 19% of the population that shopped online whereas in 2013, 22% of the population that shopped online bought books. In 2003, 21% of the people who did online shopping shopped for film/music where as in 2013 there was a huge increase by 12% that is it rose from 21% to 33%.
Film/music and books are the only category where we’ve seen an increase in demand.