Thursday 1 December 2016

Demonetisation: Online shopping sees surge; Paytm wallet & CoD payments via bank cards most preferred

CashKaro.com - India’s largest Cashback & Coupons site did a survey recently to understand the ‘Effects of Demonetisation on Online Shopping’. The effects and it’s impact is seen everywhere across industries. Over 1000 people across India participated in the survey.

The term Demonetisation has become a household name since the Government pulled the old Rs 500 and Rs 1,000 notes out of circulation. This announcement by the honorable Prime Minister Narendra Modi is perhaps the most significant step taken, targeted at ferreting out black money and curbing corruption. The effects and it’s impact is seen everywhere across industries. CashKaro.com - India’s largest Cashback & Coupons site did a survey recently to understand the ‘Effects of Demonetisation on Online Shopping’. Over 1000 people across India participated in the survey.

85% of the respondents said they are in favor of the recent move and agreed that it would be instrumental in reducing black money and corruption in the Indian ecosystem.   

Rohan Bhargava, Co-founder CashKaro.com commented, “We welcome Prime Minister Narendra Modi’s bold decision to phase out the circulation of Rs 500 and Rs 1000 bank notes as this will bring transparency and stronger accountability. The move has definitely given a boost to digital payments and has encouraged people to shop online more. Wallets like Paytm have seen significant growth. We have seen an increase in the number of people clicking through CashKaro and going to our partner sites to purchase daily essentials and consumables. One of the main reasons for this increase is that the Cashback that members earn from CashKaro is paid over and above applied discount coupons, bank & wallet offers. CashKaro Cashback is in the form of Real Cash and can be transferred to user’s Bank Account.”

KEY INSIGHTS:
  • 78% agreed that they have started to shop online more since demonetisation and because of cash crunch.
Going Cashless is the new norm: 35% of the respondents have started using ‘Plastic Money’ even while shopping at local vendors for daily needs and consumables. Others prefer the below sites for buying groceries and daily items:
  • Amazon.in - 25%
  • BigBasket.com - 15%
  • Flipkart - 7%
  • Grofers.com - 7%
  • Snapdeal - 5%

Paytm has become the undisputed leader when it comes to being the preferred payment wallet with 50% user share. Freecharge ranks second with 35% with Mobikwik, Citrus Pay and Oxigen follow thereafter.

Preferred payment method used after demonetization of Rs 500 & Rs 1000 notes when shopping online.
  • Using Wallets like Paytm, Mobikwik etc. - 59%
  • Net Banking - 23%
  • Cash on Delivery (CoD) - via using Debit/Credit card - 18%
  • Cash on Delivery (CoD) - via Cash - 1%

91% of the respondents agree that ‘Cashback offers’ by retailers, banks and sites like CashKaro.com are definitely helping them to ‘Save & Earn’ during this cash.

source:- http://www.indiainfoline.com/article/news-top-story/demonetisation-online-shopping-sees-surge-paytm-wallet-cod-payments-via-bank-cards-most-preferred-116120100303_1.html
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Cyber Monday sales clock $3.45 bn in biggest online shopping day in US history

Shoppers spent $3.45 billion on Cyber Monday on Samsung 4K TVs, PlayStation 4s and Barbie dolls among other products, marking the largest online sales day in US history. The data compiled by Adobe Digital Insights, easily surpassed prior estimates, and dismissed fears that strong web sales during the Thanksgiving weekend would hurt sales on Cyber Monday – the busiest day of the year for internet shopping historically.

It also underscored the broader shift to shopping online, which is making up for slower spending in stores. Cyber Monday sales jumped 12.1 percent year-over-year and surpassed initial expectations that called for total sales of $3.36 billion, according to Adobe Digital Insights.

Read: US Thanksgiving, Black Friday store sales fall, online rises

Top-selling electronics by units on the day include Sony’s PlayStation 4 and Microsoft’s Xbox gaming consoles as well as Samsung 4K TVs, Apple iPhones and Amazon’s Fire tablets.  Lego’s building blocks, Hasbro’s Nerf dart guns and Mattel’s Barbie dolls were among top-selling toys, Adobe said.
Adobe collects the data by measuring 80 percent of all online transactions from the top 100 US retailers. Of every $10 spent at the top 500 US retailers, $7.50 goes through the Adobe Marketing Cloud sales platform.

source:- http://indianexpress.com/article/technology/tech-news-technology/cyber-monday-sales-biggest-online-shopping-day-in-u-s-history-4402675/
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Cyber Monday sales biggest online shopping day in U.S. history


Shoppers spent $3.45 billion on Cyber Monday on Samsung 4K TVs, PlayStation 4s and Barbie dolls among other products, marking the largest online sales day in U.S. history.

 The data compiled by Adobe Digital Insights, easily surpassed prior estimates, and dismissed fears that strong web sales during the Thanksgiving weekend would hurt sales on Cyber Monday - the busiest day of the year for internet shopping historically.

It also underscored the broader shift to shopping online, which is making up for slower spending in stores.

Cyber Monday sales jumped 12.1 percent year-over-year and surpassed initial expectations that called for total sales of $3.36 billion, according to Adobe Digital Insights.

Top-selling electronics by units on the day include Sony's (6758.T) PlayStation 4 and Microsoft's (MSFT.O) Xbox gaming consoles as well as Samsung (005930.KS) 4K TVs, Apple (AAPL.O) iPhones and Amazon's (AMZN.O) Fire tablets.

Lego's building blocks, Hasbro's (HAS.O) Nerf dart guns and Mattel's (MAT.O) Barbie dolls were among top-selling toys, Adobe said.

Adobe collects the data by measuring 80 percent of all online transactions from the top 100 U.S. retailers. Of every $10 spent at the top 500 U.S. retailers, $7.50 goes through the Adobe Marketing Cloud sales platform.

(Reporting by Siddharth Cavale in Bengaluru; Editing by Shounak Dasgupta)

source:- http://www.reuters.com/article/us-usa-holidayshopping-cybermonday-idUSKBN13O26U

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Online Shopping Adds Muscle to Holiday Sales

E-commerce, helped by mobile phones, accounted for 25% of consumer spending over three days through Black Friday


As the holiday spending season kicks off, online shopping is emerging as a clear winner, helped by increased use of mobile phones.

 E-commerce accounted for 25% of consumer spending on Black Friday and the two days prior, up from 18% last year and nearly double the figure for the same period four years ago, according to First Data Corp., which analyzed point-of-sale data at nearly one million merchants.

Online shopping is more popular during the holiday shopping season, which starts around Thanksgiving. By contrast, e-commerce sales in the third quarter accounted for just 8.4% of total retail sales, according to data from the U.S. Commerce Department.

During the three days through Black Friday, total retail spending, including at brick-and-mortar stores, grew 9% from a year earlier, slightly less than last year because more stores opted to remain closed on Thanksgiving, First Data said. As a result, overall spending dipped early Thursday, but picked up around 6 p.m. that day, when many large chains opened their doors.
Much of the online traffic was driven by mobile phones. Adobe Systems Inc., which analyzed 23 billion website visits, said mobile phones accounted for 36% of Black Friday’s online sales this year, up from 26% in 2014. Wal-Mart Stores Inc. said 60% of its online orders on Friday came through mobile devices, up from 50% last year.

The pace of online spending continued into Cyber Monday, when e-commerce sales rose 12% from a year earlier to $3.45 billion, according to Adobe.

The surging levels of web orders will test retailers’ fulfillment and logistics operations and put added pressure on shipping companies like United Parcel Service Inc. and FedEx Corp., which will have to deliver millions of packages to consumers’ homes in the weeks leading up to the year-end holidays.
Sales got off to a strong start in the week leading up to Black Friday, when they grew 5.3% from a year earlier, according to First Data. Much of the growth occurred on the Wednesday before Thanksgiving, as consumers started their shopping earlier.

RetailMeNot, which analyzed proprietary data that tracks discounts, found that 70% of retailers started promoting Black Friday offers before Thanksgiving, and that the average duration of the offers was 10 days.

Electronics and appliances were the best-performing category on Thanksgiving and Black Friday, with sales up nearly 27% from a year earlier, First Data found. Clothing and accessories grew 10%, as did sporting goods, while health and personal care was up nearly 8%.

Sales in the Eastern U.S. were helped by a cold snap, while sales in states west of the Mississippi were hurt by warmer than usual temperatures, according to Planalytics, which analyzes historical weather patterns and industry sales data. For instance, sales of women’s boots were up 12% in Hartford, Conn., but down 19% in Denver, Planalytics found.

source:- http://www.wsj.com/articles/online-shopping-adds-muscle-to-holiday-sales-1480451530
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