According to a recent survey done by Inshorts and Ipsos, it has been revealed that 54% of urban Indians won’t shop online if there are no discounts.
After a year of storming discount sessions and cashback offer by startups to gain customers, the startup ecosystem of the country is finally falling back to a more sustainable business model now with discounts coming down. Discount still a big influencer for online consumers, survey says
After the government’s new and modified FDI rules, which put restrictions to discounts, this poll could give a harrowing time to the e-tailers.
The app-based poll had close to 1.5 lakh respondents, which was done across top metros such as New Delhi, Mumbai, Bengaluru, Chennai, Kolkata, Pune, Hyderabad, Ahmedabad, Chandigarh and Lucknow.
According to the suirvey, if the price of a product is same in retail market near their homes, the consumers won’t prefer buying it online. 80% of the respondents were under-35 years of age.
This result also debunks Google’s recent report, which said that discounts were no longer a factor for the Indian online consumers.
According to Google India head Rajan Anandan, Indian consumers today does not have the purchasing power yet to help run the e-tailers on profit. He stated that India’s most-valued online retailers like Flipkart and Snapdeal might have to go through a ten-year wait to transform into mega businesses.