WORKING WITH "THE PADOSI"
The Padosi is an application that acts as a civic body between the government and the public and as a location-based social network for neighbours. The aim of this app is to make societies happier and more interactive and governance more effective and efficient with this offering. I did some research work for the company regarding their one of the three business verticals, Hyperlocal services, and here are the finding: Hyperlocal services are basically targeting customers within a few kilometres. Through the app that The Padosi team has built, they would be providing offers and deals in all the stores near to their customers. The team has a tie-up with around 900 stores, such as, Café Coffee Day, Easyday, basically all the stores that were of convenience to their potential and targeted customers, The objective of the research work is as follows:
- To find the total market size of the e-commerce industry.
- To find the total market size of customers in the offers and deals segment.
- To find out the online shoppers’ behaviour. Below are my findings: -Total online shoppers are 39 Million. -Online shoppers searched coupons & deals are 37.05 Million. -Coupon business is 13.5% of the total e-commerce audience in India, growing at a rate of 62.9% with 7.6 Million unique users a month. -Coupon businesses pull up to 40% of the traffic to retailer’s websites. Consumer Search Behaviour -96% of online shoppers search for coupons. -46% of respondents used Google to search for these coupons. -42% relied on social media. -33% visited merchant sites. -16% searched newspapers to get some good offers and deals. Target Audience -The age bracket of 18-24 comprises 44% of the total users. -The age bracket of 25-34 comprises 46% of the total users. -Women users are only 25% whereas Men users are 75%. Coupon Consumption Pattern In decreasing order: Cabs, Food, Travel, Recharge, Fashion and Electronics. Indian Shoppers love the Free Economy -92% of Indians would shop if they get a product for almost free. -89% of Indians like receiving offers from e-commerce sites on social media. -84% of Indians focus on deals over brands when making travel bookings. -93% of Indians buy products due to cashback offers. -90% of Indians would change their shopping habits for offers and deals. -94% of Indians actively look for cashback deals. -78% Men and Women buy things online to save money. Some more findings -Grocery stores (41%), Departmental stores (41%) & Clothing stores (39%) are the most popular locations for coupon redemption. -77% of mobile users said that surprise points or rewards, birthday/anniversary discounts leave a very positive impact on their brand loyalty. -71% of consumers followed their favourite brands on social media to get coupons. -44% of customers say that getting media influences their online shopping behaviour. -81% of the shoppers say they will revisit a store after buying offered coupons. -71% of the shoppers switched stores to take advantage of coupons and offers. -70% of smartphone users will use their device for obtaining mobile coupons. -57% of the shoppers say they would not have made a purchase without a coupon first. -78% of consumers use coupons with regularity. The Cashback Industry has been growing at an estimated CAGR of 57% since 2012. This rate is higher than the existing rate of growth of the industry in the US. On the back of such promising statistics, it is safe to say that cashback is still the king of the e-commerce industry. Online shoppers will be able to earn just for shopping while e-commerce platforms bask in the healthy increase in traffic for years to come. Mobile use resulted in a 14.2% growth of traffic in the Indian online retail market with more and more coupon websites and e-stores focussing on taking advantage of the mobile platforms. All in all, India is at the cusp of witnessing the fastest growing e-commerce market in the entire Asia Pacific region with a Compound Annual Growth Rate (CAGR) expected to be 57% between 2012 and 2016.