E-shoppers expected to grow 65 mn on valentine week this year

Published on March 11, 2015 15:17:12 PM
Business

The recent survey conducted by Assocham reveals that online retailers and shoppers are expected to earn Rs 22,000 crore on valentine week this year which is 40 per cent higher as compared to last year which was about 16,000 crore.

The survey on `Valentine Day-big business for Shoppers and the Industry’ says that about 40 million consumers purchased online last year and the number is expected to grow to 65 million this year.

The valentine day market would record the sales of popular gift articles such as valentine cards, flowers, diamond jewellery, chocolates, perfumes, toys, clothes, wrist watches, phones and electronic gadgets.

The findings say that the number of online shoppers increased to 32 per cent which is higher than 20.5 per cent last year and the rural spending also increased by over 22 per cent than the urban spending (20 per cent) this year.

52 per cent of online shoppers prefer online shopping because of best deals, discounts, ample gifting options, home delivery, 24x7 hours shopping, and product comparisons.

D S Rawat, Secretary General, Assocham, said, "Valentine's Day is turning out to be a heavy buying festival with a significant jump over the past four to five years.”

Assocham survey has covered 600 organised retailers and online-shopping companies engaged in the business of gift products, jewellers, chocolates, toys, readymade garments, travel houses, airlines, mobile & telecom and electronic firms on the buying trends during Valentine's week.

Survey also revealed that the companies are coming up with attractive offers by way of targeting youths of highly paid executives working in IT, BPO-ITeS, retail, hospitality industry, big corporate and also students of various colleges, schools and institutions etc.