Social Media, M-commerce Attracting More Shoppers: Report
Criteo analysed 1.5 million transactions made during the peak shopping time from 17 November to 31 December 2015 to understand consumer behaviour
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Online shopping is growing at an impressive rate in India due to brand advertising on social media and in-app availability of e-commerce platforms, according to Internet and mobile device marketing consulting and software services provider Criteo.
The company, which conducts market and technology research, has released its year-end data monitored on major e-commerce platforms.
Drawing the change in consumer buying trends in India, Criteo found that online shopping is rising tremendously.
Criteo analysed 1.5 million transactions made during the peak shopping time from 17 November to 31 December 2015 to understand consumer browsing and buying behaviour. Criteo noted a maximum visitor uplift of 56 per cent, with sales up to 73 per cent generated the week before Christmas.
Dushyant Sapre, commercial director of Criteo India, said, "India is experiencing a digital revolution. Internet is being consumed by Gen Y and Gen X in tier 2 and tier 3 cities, as well as in villages. For retailers, social media platforms have become a point of interaction with their users, as Indian consumers are spending major time online, accessing social media through handheld devices, notebooks and desktops."
He added, "Buying today is primarily taking place via smartphones and tablets. Thus, from e-commerce, Indian consumers are gradually moving to m-commerce. With such tough competition, brands will stand out only if they provide users a personalised brand experience. With ad-tech companies, brands get the advantage of recognising a potential customer, mapping their online behaviour and reaching them through varied devices throughout the user journey."
Its key findings are:
- Online traffic to key retailers' websites increased much earlier, as of mid-November 2015
- Before the Christmas week, an average visitor uplift was seen of 42 per cent, which generated a sales uplift of 32 per cent
- Social Media Optimization has doubled the increase of visitor volume and sales on major e-commerce platforms
- 40 per cent of shoppers browsed major e-commerce sites through their mobile phones
- 36 per cent of buyers browsed retailers' websites with a different device before making a final purchase
While technological enhancements and introduction of mobile wallets have facilitated the mobile shopping experience, marketers are challenged with targeting consumers across every environment along the path to purchase.
Brands can no longer ignore mobile platforms as a primary means to drive e-commerce sales, the report noted.
To boost revenue, retailers must combine a strong mobile web and app presence with personalised mobile retargeting strategies to engage with shoppers wherever and whenever they browse and purchase, it said.