eBay launches online watch mall in India

Mall will showcase over 65,000 stock-keeping units with access to 26 exclusive international brands

Ecommerce player eBay today launched an online watch mall, which it claims to be the largest in the online space in India. The online mall will showcase over 65,000 stock-keeping units (SKUs) with access to 26 exclusive international brands, and more than 200 global and local brands of watches.

Speaking to mediapersons here on Thursday, Navin Mistry, head (retail exports and lifestyle category), eBay India, said the average selling price of a men's watch on the online mall would be $100 while it would be $50 for a women's wrist watch.

"The overall size of the watch industry in India is currently estimated at $834 million, and is growing at 10%, year-on-year. With the boom of the ecommerce industry, the current online market for watches is estimated at $32 million and continues to grow at 35% annually. And, eBay India is the leader with a 21% market share," he said.

eBay India offers products in electronics, lifestyle, media and collectibles categories. While electronics and lifestyle verticals contribute 47% and 43% respectively to its sales, the media segment comprising data cables, USB ports, CDs and DVDs etc accounts for the remaining.

Stating that Karnataka, Maharashtra, New Delhi, Andhra Pradesh and Tamil Nadu are the top five states which put together account for 60% of the watch purchases on eBay India, Mistry said Andhra Pradesh contributes 12% to the overall sales of watches on eBay India, with most shoppers preferring to buy chronograph watches.

There are 64% male shoppers viz a viz 36 female shoppers for watches. While both men and women majorly prefer the metal straps (men 75% and women 45%), some also buy leather straps (men 20% and women 40%) and ceramic straps (men 10% and women 15%), eBay India said, adding that every four minutes a watch was sold on eBay India.