Online consumer saving in India on the rise

Monday, 08 October 2012 18:20 administrator
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Consumers in India saved Rs 420 million in August 2012 by buying gadgets online says a new study.

A study undertaken on gadget e-commerce by Sulekha.com reveals that consumers have saved about Rs 420 million in August 2012 by buying gadgets online from the top 15 e-commerce players in India. The study indicates that consumers are buying mobile phones online at almost factory price.

Sulekha.com estimates that about Rs 2.8 billion of electronic gadgets were sold online through the top 15 e-commerce portals in India in August 2012. This study is an analysis of the top 2400 products sold through these 15 portals between July 15 and August 31, 2012. Sulekha.com validated the findings of this study by going through the gadget prices given by Junglee.com and also by comparing the savings against MRP (Maximum Retail Price) and MOP (Minimum Operating Price) as mandated by different manufacturers. The analysis also covers coupon codes given by different e-commerce sites.

Commenting on the study, Param Parameswaran, Chairman of Sulekha.com, said, “Consumers in India are hugely benefiting from free shipping, no additional credit card costs (that are common in offline retailers), free 3-month EMIs and other facilities – besides the low prices offered by leading e-commerce players, including Sulekha.com. I see this trend continuing for next 6 to 12 months.”

Satya Prabhakar, CEO of Sulekha.com, said, “As per our estimate, consumers can continue to save Rs. 40-70 crore per month for the next 6 to 12 months. Consumers can save even more if a bigger fraction of buyers moves online (currently 98 per cent of gadget sales happens offline, as per our estimate).”