With
the Indian e-commerce space experiencing "exciting times", the import
from other countries is estimated to grow at 78.5 percent during
2015-16, a study said on Thursday.
According
to the report on consumer research by PayPal and Ipsos, desktops
account for the highest proportion of purchases at 53 percent. However,
it said the future belongs to mobile as 41 percent of these purchases in
the last one year were made using a smartphone or tablet.
"Our
research reveals that the advent of technology is slowly diminishing
borders for online shopping. With the number of online shoppers set to
grow exponentially, it will lead to an increase in the numbers shoppers
who shop from global retailers with online presence," Vikram Narayan,
country manager and managing director of PayPal India, said in a statement.
Although
cross-border trade has been predicted to grow exponentially, high
customs duty and high delivery shipping costs are key deterrents.
The
report said that 52 percent of online shoppers have not made purchases
as cross-border state delivery shipping costs have deterred their
decision, while 43 percent stated to customs and other fees as barriers.
"Other
key barriers also include difficult process for returning products,
having to make payments in foreign currency, return shipping costs and
concerns about identity theft and fraud," it said.
'Cart
abandonment' is also a key issue on cross-border shopping, where
consumers abandon their online shopping carts after having chosen their
products for purchase. Reasons cited include preferred payment option
not available, lack of clarity about how much duty, tax, or custom fees
would have to be paid and concerns about website security.
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