Jasper Infotech, the parent company of SnapDeal, India’s largest Daily deals website with a 65% transactional market share, today released its Online Group Buying Industry Trend report. The report focuses on the recent ‘Deals Buying trend’ online, witnessed among various Age groups, Gender, Geographical locations and Categories.
According to Jasper, Group Buying has given a different dimension to the e-commerce industry in India. The industry has experienced a massive growth from selling around 100 vouchers a day in the beginning to selling more than a few thousand vouchers on an average currently. This growth is likely to grow at a faster rate in the coming months, if current trends are any indication. The Indian retail services market is valued at $100 billion and the goal of the group buying industry is to migrate some of these spends from offline to online. If we assume 1% of these spends migrate, we are looking at a $1-billion market in the next decade.
Going by the transactional trends observed on various websites, the Gender ratio distribution is likely to be slightly skewed towards Men at 55% and women at 45 per cent, but in many cases men purchase the deals as gifts for women.
Another interesting observation is that the customers of these online group buying sites are usually young professionals. The age group is biased towards 18-25 years with around 58 per cent of the customers in this bracket. The remaining 42 per cent customers fall into the 25–40 year age bracket. The representation from the 40 – 60 year old is not very sizeable. But as the industry grows we can expect members of every age group adopting the group buying industry.