New Delhi, June 17 (IANS) Lower prices, convenience and detailed information are among the major drivers of e-commerce in India, a global financial services behemoth said on Friday.
“Lower price and convenience are key drivers for consumers to shop online; wider range of products gains significance in smaller cities,” said a Morgan Stanley Research report.
Other crucial drivers mentioned included wide range of products, assurance of quality, ease of comparing products, choice of payment options, user reviews and comments, fast delivery and allowing product returns.
According to Morgan Stanley Research’s AlphaWise Survey in late 2015, first time online shoppers spiked owing to attractive deals and sheer convenience of shopping online.
“Given the small base of online shoppers in India today, we believe that attractive pricing will remain a hook in the future as well,” said the report.
While e-commerce with its wide assortment of products emerged as boon for tier II and III cities plagued by poorly organised retail infrastructure.
And interestingly, fast delivery did not figure as important an issue as in 2014.
“We believe customers still value fast delivery but probably now consider it a hygiene factor. Hence, as online shoppers take to the Internet for more of their daily needs, e-commerce companies will have to keep building on and improving their existing capabilities,” the report added.