Undeterred by the economic downturn, average online spending by consumers in India rose by 42 per cent to $3,442 in the fourth quarter of 2008 over the preceding quarter, a survey has said.
“On a quarter-on-quarter basis, the average online spending in the country was one of the largest at $3,442 in Q4 2008, up by 42 per cent as compared to $2,419 in Q3 2008,” Visa said in its e-commerce consumer monitor, a survey conducted in the Asia-Pacific region.
According to the survey, India ranked third in online shopping after Singapore ($4,018) and Hong Kong ($3,791) in the 12-month period ended on December 2008.
“Our survey shows that online shopping appears to be resilient in the uncertain economy. As consumers are expected to keep a close eye on their finances, the ability to browse a wide range of retail offerings to compare prices and seek cheaper buys on the internet seems to be leading budget- conscious consumers to shop online,” Visa Country Manager (South Asia) Uttam Nayak said.
In the Asia-Pacific too, online spending by consumers in the last quarter of 2008 held steady compared with the previous two quarters, the survey said.
The respondents surveyed in Asia-Pacific region spent an average of $3,109 in the year ended on December 2008.