New Milestones in India’s Online Footwear Trade
Right from day-one when Indian entrepreneurs made their imprints in the manufacture and trade of footwear, there has been no looking back. Among these, the leading stakeholders have proved their professional mettle in both the domestic and overseas markets.
They have reckoned ultimate satisfaction of a customer as the guiding light, be it the design, production process, quality or the distribution network. With this as the yardstick at every stage, the industry has kept pace with the numerous technical and commercial developments.
One of them is the concept of e-commerce and also the marketing of almost every brand or type of footwear through online modes.
Despite innovative technologies hitting the headlines literally every other day, time is a major constraint in the modern consumerist society. For instance, Satish Sharma may hardly find time to buy his pick of shoes.
Thanks to the online trading, there is no need to strain by hopping from one shop to another shop in quest of one’s choice. By a mere click of the mouse, Sharma, an intending buyer can view and the wide range of shoes offered by the very maker or a franchised trader.
All that he has to do is type the words ‘shoes online India for men’ in his search for his favoured brand. Presto, details of different shoes with the price tag, supplemented by an apt illustration would appear on the screen to solve Sharma’s worries.
Associated Chambers of Commerce and Industry in India (ASSOCHAM), the country’s premier consortium of the corporate sector conducted an in-depth study on e-commerce. This survey revealed a staggering 88 percent growth in 2013 that touched the mark of $16 billion.
It was remarkable considering slower economic growth and spiraling inflation. The lion’s share in these online transactions was bagged by consumer durables like footwear, apparel, mobile phones, jewellery, books, cosmetics and assorted lifestyle needs such as kitchen appliances, etc.
Based on this survey, the Indian e-commerce market is expected to reach $56 billion by 2023. It was mainly conducted in Delhi, Mumbai, Chennai, Bangalore, Ahmedabad and Kolkata, the key business hubs of India.
To buy footwear online in India is fast catching up among all the users. Sharma was lured by an exclusive factor of highly attractive discounts offered to an online buyer.
So much so, most of the makers of shoes themselves extend such lucrative discounts, often up to 60% in some cases.
With almost 10 percent of Internet penetration in India that was around 150 million during August 2013, online trade is certain to grow by leaps and bounds.
ASSOCHAM’s survey also revealed that 35 percent of online shoppers are in the age group of 18-25 years, 55 percent between 26 years and 35 years. 8 percent are found to be bracketed between 36 and 45 years and just 2 percent belong to the age group of 45-60 years.
While 65 percent of online shoppers are male, 35 percent are female, the survey noted. These figures reflect the fact that online trading is becoming more popular irrespective of apprehensions like one’s financial status becoming public or high delivery costs.