What's in fashion in India: This Baggout survey tells you
In its detailed report on Indian e-commerce sector released last month, Accel Partners predicted a strong growth in the fashion category. Fashion e-commerce GMV doubled since 2012, the report noted, adding that 35% of online GMV in 2016 will be influenced by women. Baggout, Delhi-based startup which helps online shoppers spot a good deal across all the big online retailers, including Amazon, Flipkart, Myntra, Snapdeal, Jabong, HomeShop18, Yepme, Fernspetals, decided to dig deeper for more insights into the fashion e-commerce category.
They conduced a survery among their users, which threw up more clues into the consumer mindset. Here're their findings:
Currently in India, the ecommerce space itself is evolving. With Amazon India building traction rapidly, Flipkart, Myntra and others are moving to hybrid models like online marketplace. Such a model allows small vendors to list their products on marketplaces and also operate their own websites.
Baggout operates on an affiliate model and pass part of their commission to their users. “All these models would see a huge value in an affiliate marketing model like ours. We are already tied up with all the major players and are in the process of tying up with small players which would be in tens of thousands,” says Deepak Jain, Co-founder & CEO of Baggout, an alumnus of IIT Roorkee and IIM Ahmedabad. He started Baggout with his school friend, Prashant Mahajan. Deepak and Prashant have bootstrapped Baggout, financing it from their personal savings.
(To find out more on Baggout's affliate model, read: IITian-IIMite bets on social shopping with Baggout)
If you'd missed the Accel India report, here are the highlights:
* Online shopping of physical goods will increase from $2 billion in 2013 to $8.5 billion in 2016
* Only 17% of Indians are online, out of which 9% shop online
* Fashion e-commerce GMV doubled since 2012
* 35% of online GMV in 2016 will be influenced by women
* New shoppers will come from the age group 19 – 24
* Third Party payments will become significant alternative to Cash on Delivery
