MxMIndia

Tag: e-tailing

  • Data from major e-tailing sites in the monthly tracker shows that online visits to designer labels and book segments has increased by 58 percent and 76 percent respectively, compared to the corresponding month last year.

    e-tailing websites saw 2253.35 million page views: IAMAI

    By A Correspondent

     

    The Internet Economy Watch Report for the month of April 2013, released by the Internet & Mobile Association of India (IAMAI), indicates 24.84 million people accessed various e-tailing sites. There were 2253.35 million page views in the category. The user reach for job and matrimonial websites is 13.28 million and 7.17 million respectively with 447.68 million and 104.99 million respective page views. As compared to e-tailing and job and matrimonial websites, online travel segment has less reach with 11.14 million reach and 477.52 million page views. The total time spent by users on the e-tailing, online job portals, online matrimonial portals and online travel portals was 52014276 seconds, 25687398 seconds, 7281667 seconds, and 22959918 seconds respectively.

     

    Fig 1

    Source: IAMAI/ Different websites

     

    Report also states a significant y-o-y growth of 87 percent in online booking of railway tickets when compared with the numbers of corresponding month last year. Railway tickets booked online in April 2013 were 4.00 million as compared to 2.14 million in April 2012. The online bookings of air tickets witnessed a decrease of -37 percent with 0.57 million bookings in April 2013 as compared to 0.91 million bookings in April 2012.

     

    Fig 2

    Source: IAMAI/ Online Travel Portals

     

    According to the data captured from major e-tailing sites in the monthly tracker, online visits to designer labels and book segments has increased by 58 percent and 76 percent respectively, when compared to the numbers of the corresponding month last year. A significant increase has been registered in the online users visit to mobile segment. The number of visits has increased to 7.07 million in April 2013 from 4.52 million in April 2012. The online users visit to spa and restaurant segment decreased from 0.57 million in April 2012 to 0.57 million in April 2013, a y-o-y decrease of 38 percent.

     

    Fig 3

    Source: IAMAI/e-Commerce sites

     

    In April 2013, the number of profile uploads on matrimonial sites has indicated a y-o-y growth of 4 percent. The number of resume uploads in April 2013 was 1.06 million as compared to 1.09 million in corresponding month last year, a y-o-y decrease of 3 percent. The number of profile uploads on matrimonial websites was 0.64 million in April 2013 as compared to 0.62 million in April 2012.

     

    Fig 4

    Source: IAMAI/ Vertical Classifieds

     

    The monthly internet tracker by IAMAI is based on absolute numbers captured from various relevant sites, and encapsulates online usage for E-tailing, Online Travel and Vertical Classifieds.

     

  • The IAMAI's Internet Economy Watch Report for February shows that the jewellery segment clocked a 117 percent y-o-y growth when compared with last year in the e-tailing category

    Jewellery e-tailing registers 117% Y-o-Y growth

    By A Correspondent

     

    According to the Internet Economy Watch Report for February 2013, released by the Internet & Mobile Association of India (IAMAI), the jewellery segment clocked a 117 percent y-o-y growth when compared with the numbers of corresponding month last year in the e-tailing category. Branded Apparel category recorded 59 percent y-o-y growth with 6.73 million user visits in February 2013 as compared to 4.24 million hits in the corresponding period last year. The footwear and designer label segment registered a y-o-y growth of 23 percent and 13 percent respectively when compared with the number of online user hits from last year.

     

    Data captured from prominent e-tailing sites reveals a significant y-o-y growth of 39 percent in online user visit to mobile phone segment with 5.41 million hits in February 2013 as compared to 3.90 million in February 2012.  Online user visit for books which witnessed 2.46 million hits in February 2012 declined to 2.41 million in February 2013.

     

    While irctc.com registered 9 percent y-o-y growth in the e-ticketing segment, air tickets booked online in February 2013 were 0.95 million as compared to 0.91 million in February 2012, a 5 percent y-o-y growth. The monthly tracker reveals that the number of resume uploads has gone up to 1.09 million in February 2013 from 0.76 million in February 2012, whereas, the number of profile uploads on matrimonial websites has witnessed a significant y-o-y growth of 78 percent in February 2013. Profile uploads on matrimonial sites is 1.02 million in February 2013 as compared to 0.57 million in the corresponding month last year.

     

  • The current year looks set for exponential growth. Going by the IAMAI Internet Watch Report, e-Tailing is witnessing steady growth

    e-Commerce set for steady growth in 2013: IAMAI

    By A Correspondent

     

    While 2012 witnessed consolidation and increase in e-Commerce, the current year looks set for exponential growth. Going by the IAMAI Internet Watch Report, e-Tailing is witnessing steady growth. Panelists at a session of the 7th India Digital Summit organized by the Internet & Mobile Association of India aptly titled “e-Commerce 2.0 – Emerging Trend” discussed threabare the opportunities that lie ahead in 2013. Chaired by Avnish Bajaj, Managing Director – Matrix Partners, the session saw participation from Alok Mittal, Managing Partner – Canaan Partners India, Sachin Bansal, Co-Founder & CEO – Flipkart, Sundeep Malhotra, CEO – Homeshop18, Murlikrishnan B. Country Manager – eBay, Mukesh Bansal, Founder – Myntra.com and Ankur Warikoo, CEO – Groupon India.

     

    Discussing about new users, devices and new business models, Mukesh Bansal reiterated that acceptance for e-commerce has evolved in 2012 and will witness growth in tier 2-3 cities. However, Murlikrishnan B had a word of caution. According to him, “While the year 2012 was a year of engagement and supply dynamics to evolve, 2013 will be a year of reality check.”

     

    Sundeep Malhotra stressed on the fact that women are driving the e-commerce category and will continue to do so. The same trend can be seen the monthly tracker ‘Internet Economy Watch’ by IAMAI where a tremendous and steady growth has been seen in e-tailing of fashion accessories, branded apparel and footwear segment, a category dominated by women heavily. As per the latest data, the branded apparel and footwear segment has seen a y-o-y growth of 56 percent and 71 percent respectively.

     

    However, according to Alok Mittal the new e-commerce companies have to evolve unique strategies in the competitive world. With the market size still being naïve, the need to integrate all mediums to reach consumers across platforms is required. As Sachin Bansal put it, “Better online experience is what e-commerce companies should aim at.”

     

  • According to IAMAI's (Internet & Mobile Association of India) Internet Economy Watch Report for the month of August 2012, the e-tailing category namely designer labels and spa/restaurant segment received a growth of 18 per cent y-o-y respectively when compared with the numbers of the corresponding month last year.

    IAMAI Internet Economy Watch: Online visits for designer labels & restaurant grows significantly

    By A Correspondent

     

    According to IAMAI’s (Internet & Mobile Association of India) Internet Economy Watch Report for the month of August 2012, the e-tailing category namely designer labels and spa/restaurant segment received a growth of 18 per cent y-o-y respectively when compared with the numbers of the corresponding month last year. Designer labels category registered 2.60 million visits in August 2012 as compared to 2.20 million visits in August 2011. The spa/restaurant segment witnessed 0.84 million user visits in August 2012 as compared to 0.71 million in the corresponding month last year.

     

    Data captured from e-tailing sites reveals a significant growth in online user visit to mobile phone segment with 5.05 million hits in August 2012 as compared to 4.92 million in August 2011.  Online user visit for books on the other hand recorded 57 per cent growth in July 2012, and witnessed 1.60 million user visits in August 2012 as compared to 1.39 million in August 2011, a 14 per cent y-o-y growth.

     

    E-Commerce Sites:

     

    Source: IAMAI/e-Commerce sites

     

    Online Travel Portals:

    While irctc.com registered 48 per cent growth in the e-ticketing segment, air tickets booked online in August 2012 were 1.49 million as compared to 1.19 million in August 2011, a 26 per cent y-o-y growth.

     

    Source: IAMAI/ Online Travel Portals

    Vertical Classified:

    The monthly tracker reveals that the number of resume uploads has gone down to 1.99 million in August 2012 from 2.60 million in August 2011, whereas, the number of profile uploads on matrimonial websites has witnessed a marginal growth of six per cent in August 2012. Profile uploads on matrimonial sites is 2.18 million in August 2012 as compared to 2.05 million in the corresponding month last year.

     

    Source: IAMAI/ Vertical Classifieds

    The monthly internet tracker by IAMAI is based on absolute numbers captured from various relevant sites, and encapsulates online usage for E-tailing, Online Travel and Vertical Classifieds.

     

     

     

     

  • The founder and CEO, Myntra.com talks about the growth story of Myntra in a crowded marketplace, on the USP that sets it apart from its peers and what are its plans to derive next phase of growth in India

    We’ll continue focus on customer delight, says Myntra’s Bansal

    E-tailing in India has seen some brisk business being conducted by a few players in the recent past. While some may brand the space as crowded, there are a few players who have created a niche and are gaining handsome dividends too. Like Myntra.com, that has been consistently doubling its revenues every 5-6 months for the past 15 months and is currently doing over 8,000 transactions daily. According to Mukesh Bansal, Founder and CEO, Myntra.com, the opportunity to offer the widest catalogue across national and international brands, 24/7 shopping, 30 day returns and Cash on Delivery are some of the features unique to online shopping and have helped grow the market.

     

    In an interaction with MxMIndia, Mr Bansal talks about the growth story of Myntra in a crowded marketplace, on the USP that sets it apart from its peers and what are its plans to derive next phase of growth in India. Excerpts:

     

    What according to you are the factors that are driving the growth of the e-commerce marketplace in India?

    Some factors that are enabling the growth of the e-commerce in India:

     

    > Internet penetration:India, currently at 120 million users, is one of the fastest growing internet markets in the world and is expected to touch 300 million by 2015. This has led to opportunities for a vast number of businesses to mushroom online. E-commerce is the largest and the fastest growing segments online.

    > Success of online travel sites & ticket bookings: This has led to increased confidence among consumers to venture into online shopping.

    > Convenience: Widest catalogue across the best national and international brands, 24/7 shopping, 30 day returns and Cash on Delivery are some of the features unique to online shopping and have helped grow the market.

    > Investment from VCs and private players: Investors are looking at e-commerce as a long term investment portfolio as the space has shown tremendous potential to become a multi-billion dollar business.

     

    How would you analyse Myntra’s growth story in India over 2011-12?

    Myntra has been consistently doubling its revenues every 5-6 months for the past 15 months and is currently doing over 8,000 transactions daily. Our daily traffic has grown to over 4,00,000 visits and our network has grown to cover 1,200 towns and cities across the country. With over 350 of the best national and international brands, Myntra is, today, the largest online retailer in the fashion and lifestyle segment.

     

    We are also one of the well-funded companies in the space and at the current growth rate, we are confident of achieving our target of Rs500 crore by the end of this financial year.

     

    The e-tailing space is flooded with players offering the same set of user services, what is the USP that Myntra brings to the table? 

    Back in 2010, Myntra took a bold decision to enter the full catalogue, current season segment to retail merchandise on MRP. Along with the largest catalogue of marquee brands, Myntra was able to target untapped markets across the country coupled with on-time delivery and flexible policies.

     

    Cash on Delivery as a payment option became an instant hit among our shoppers and today constitute about 65 per cent of our overall business.

     

    Could you summarize what your core TG of online shoppers looks like?

    Our typical shoppers fall in the age bracket of 20-35 years (SECAB) with about 70 per cent of our shoppers being male. About 55 per cent of our shoppers are from tier 2 & 3 cities with the rest in top 10 cities.

     

    What is the emphasis you lay on the distribution/delivery across India?

    One of the biggest challenges for any e-commerce player is to effectively manage its supply chain and logistics. At Myntra, we are constantly upgrading our processes to provide a hassle free shopping experience while strengthening our in-house logistic network. We are currently operational in over 12 cities across the country and plan to reach as much as 70 per cent of our customers directly via our own logistic network by the end of this year.

     

    What is the impetus that you are laying on the marketing/communication plans for Myntra?

    Our latest TVC hit the networks in June 2012 across major national channels. We are now entering regional markets in the south with language specific ads in Tamil, Kannada and Malayalam.

     

    We are also partnering with various other properties that enhance our fashion quotient.

     

    Do you think e-tailing is gaining ground in India at the expense of other modes of shopping?

    The overall lifestyle category in India is pegged at approximately $50 billion, growing at 16 per cent CAGR. This is one of the largest categories, not considering travel & tourism. The industry is expected to cross $100 billion in 2015 with approximately 5-8 per cent of this being online. This clearly indicates that the market is big enough for both to co-exist.

     

    What are the challenges in running a successful e-tailing network in India?

    The biggest challenge for any e-commerce player is to effectively manage its supply chain (inventory, logistics etc) and customer experience. Delivery team and customer support being the two main touch point for an online retailer, utmost importance needs to be given to both these aspects.

     

    At Myntra, we are constantly upgrading our processes to provide a hassle free shopping experience while strengthening our in-house logistic network. We are also constantly training and motivating our CC teams to imbibe the Myntra core values and pass them on to our customers.

     

    What are your plans for the next phase of growth in India?

    According to recent reports, online apparel will be a $2 billion market by 2015 and we see great potential to grow in this environment. Our investments in technology, brand and supply chain is already paying dividends and we will continue to focus on delighting our customers.

     

    We are also adding new features on our interface to aid our customers in their buying process and helping them make the right fashion choice with our fashion blog called Style Mynt.

     

    Social media is a very important platform for us and we are making steady progress with over 6.5 lakh fans on our Facebook page while Twitter, Google and Pinterest are gaining momentum.