TMCnet News
Online shoppers population to reach 38 million by 2015: reports(Daily Patriot (Pakistan) Via Acquire Media NewsEdge) Due to the increasing number of online shoppers, it has boosted the business of credit card issuers. The number of online shoppers is likely to reach 38 million by 2015. The number of online shoppers in the country is currently estimated at 14 per cent of the total 74 million internet users and has been growing at 35 per cent over the past three years, according to an American Express study, DECCAN Chronicle reported. India has now become the world’s third-largest online market in terms of internet user base, growing at 31 per cent, after China and the US, according to research firm comScore.`Credit card providers saw two-times more transactions on Flipkart, 1.6 times at Jabong and six times at Infibeam,’ stated the study. The recent `great online shopping festival’ launched by Google triggered massive sales for various companies, from online retailers to credit card companies. American Express offered attractive discounts on leading e-commerce sites and saw 22 times growth in their average daily billings during the campaign, generating USD 1.7 million billings in total and USD 1.2 million in incremental billings during the period, the study said. According to Worldline, payment and transactional services industry player, in the just concluded financial year, the credit card base in the country grew by 4 per cent. Official reports also stated that the private sector banks were the market leaders in FY14, with a 54 per cent share of the credit card base. |