The dependency on online marketing has made E-Commerce companies in India racking up over 30 per cent of their revenue while 85 per cent of retail marketers say that e-mail as an important tool for their marketing strategy, a survey noted.
According to third edition of Retail e-Marketing Research report released at Retail Technology Conclave (ReTechCon) organized by Retail Association of India (RAI), social media remained one of the major tools to tap business as 79 per cent of retail marketers vouch on successful marketing on social media platforms.
Expressing regret over the increasing revenue loss to e-commerce companies due to largesse cart abandonment, the report expressed concern over lack of Cart Abandonment Program followed by these companies to reduce people leaving the shopping cart in between before reaching payment gateway.
Highlights of India Retail e-Marketing Study:
- 72% of e-Commerce companies with turnover of Rs. 20 cr to 100 cr generate 30% or more of their revenue from Online Marketing.
- Shopping Cart Abandonment is an important issue for all Online Retailers. Deploying simple Cart Abandonment Program (CAP) increases revenue by improving Cart Abandonment Rates. Yet only, 12% of India Retail Marketers have deployed a Cart Abandonment Program currently.
- Social Media is voted as the Primary Online Activity by 79% of India Retail Marketers, a 30% increase over 2014.
- Customer Acquisition still remains the Primary Marketing Goal of India Retailers, with a 58% Retailers voting for the same.
- Print Promotion (77%) remains the top choice of retailers as their preferred Offline Marketing Activity.
- 95% Retailers say that mobile is important or very important to them as they use it as their part of Marketing Strategy.
- More than 85% of India Retail Marketers vote for Email as an important channel of their marketing Plan. Email Marketing continues in the Top 3 Online Marketing Channel for Retail in India.
Commenting on the survey, Punit Modhgil, Managing Director & Co-founder, Octane Marketing said, "2015 is of digital for India Retailers. We see a rise in usage of Social Media and a continued importance of Email & SMS Marketing. The larger deployment of Cart Abandonment Program can add 10-15% additional revenue to e-Commerce companies in India. Though the focus has been on acquiring traffic online, we anticipate conversion ratios (clicks to cart, cart to order) getting a sharper focus this year."