 "India shows highest growth in cross border shopping: PayPal report")
Indians are growing accustomed to cross-border shopping and the country showed the highest growth in all key countries stated a report released by PayPal. “Most shoppers are evolved and the average spend through the year is about Rs 1.4 lakh,” said Vikram Narayan, country manager and MD, Paypal India.
The report also stated that US, China,UK, Singapore and Japan, in that order, were where countries Indians liked to shop from.
Indians will spend, according to projections, Rs 54,700 crore by the end of 2015. The number is only set to grow, Narayana said.
The research further highlights that desktops account for the highest proportion (53%) of purchases made by cross border shoppers from websites in another country in the past 12 months, while 41% of the purchases were made using a smartphone (30%) or tablet (11%).
“These shoppers spent mostly on apparel and shoes after which came electronics,” said Narayana.
The report stated that one of the key reasons that stopped people from shopping was delivery costs and tricky return policies. Even though several companies have tried to let shoppers pay in their home currency, the costs turned out to be an important factor when picking shopping destinations. “Most of these shoppers were between the ages of 18 and 25,” said Naryana.
As many as 808 people in India were surveyed by Ipsos on behalf of Paypal. All of them were over the age of 18 and owned an internet-enabled device.
The report also stated that US, China,UK, Singapore and Japan, in that order, were where countries Indians liked to shop from.
Indians will spend, according to projections, Rs 54,700 crore by the end of 2015. The number is only set to grow, Narayana said.
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“By the end of 2017, the spends inclusive of cross border shopping will reach Rs 7,02,900 crore,” stated the report as 62% of online shoppers in India chose to buy domestically.
The research further highlights that desktops account for the highest proportion (53%) of purchases made by cross border shoppers from websites in another country in the past 12 months, while 41% of the purchases were made using a smartphone (30%) or tablet (11%).
“These shoppers spent mostly on apparel and shoes after which came electronics,” said Narayana.
The report stated that one of the key reasons that stopped people from shopping was delivery costs and tricky return policies. Even though several companies have tried to let shoppers pay in their home currency, the costs turned out to be an important factor when picking shopping destinations. “Most of these shoppers were between the ages of 18 and 25,” said Naryana.
As many as 808 people in India were surveyed by Ipsos on behalf of Paypal. All of them were over the age of 18 and owned an internet-enabled device.