The e-commerce companies in India are making every move to gain the early advantage and as many shoppers as possible on their platforms. One move here and there, and they can lose the market share. They can improve and gain shoppers in a blink.
According to a recent survey, around 54 percent of Indian online shoppers would like to shop on websites which are fast. They do not wait for even five seconds for a web page to load and move on to next website.
“Indians are the most demanding Internet users and 54 percent would move to a different site to make a purchase if a website was too slow,” said a global digital content provider Limelight Networks. Nearly 10 percent of Indian users do not re-visit a website after previously experiencing slow performance.
At present 78 percent of the top 100 retail sites had a load time of under 3 seconds, while only 6 percent took 5 seconds or longer to load.
Entrackr found the load time of various popular e-commerce sites such as Amazon, Flipkart and Paytm in India. Flipkart had 9.2s, Amazon loaded in 8.0s whereas Paytm has 4.1s load time.
Smartphones are the primary device used to access online content for Indians and more than half (56 percent) expect fast web performance regardless of what device they are using.
“In today’s crowded market, brands can’t risk delivering a poor online experience to their customers,” Michael Milligan, Senior Director at Limelight Networks, said in a statement.
Besides, Indian consumers also want to know their information is being safeguarded online. 69 percent have a negative opinion of a brand after it has experienced a security breach, and 45 percent say they will not shop at a website that has been the victim of a cyber-attack. Globally, more than 45 percent of people spent at least 15 hours a week online outside of work, a 64 percent increase from last year.
E-commerce market in India
India’s e-commerce market will grow at a 30 percenr compound annual growth rate for gross merchandise value to be worth $200 billion by 2026, according to investment bank Morgan Stanley. India had 60 million online shoppers in 2016, which is 14 percent of the internet user base in the country. This will rise to over 50 percent by 2026.
According to industry experts, Flipkart, which is the most-funded firm, continues to lead Indian e-commerce. The pace of Amazon’s expansion has been rapid and can emerge as the dominant player in a long run.