STUDY OF CONSUMER BEHAVIOUR WHILE MAKING PURCHASE FROM BAGITTODAY IN ORDER TO IMPROVE THE OVERALL EXPERIENCE OF SHOPPING

Abstract

E-commerce has taken Indian business by storm. It is creating a new economy, has a huge potential and is significantly changing the way businesses are done. This industry is advantageous for both buyers and sellers and this win-win situation is at the core of its phenomenal rise.

The greater variety of goods and services which can be bought over the internet has made buying online more attractive and convenient for consumers all over the country.

Trends in the Industry- - Mounting Social Media - M-commerce - Online Group Buying - Renewed interests of Venture Capitalists - Change in the Business Model - Hiring the best

Last year Gartner Inc. had estimated E-commerce market in India worth US $6 billion in 2015, projecting a 70% growth from 2014 revenue of US $3.5 billion. However, according to the latest report by IAMAI and IMRB International, the Indian e-commerce industry is expected to grow at a rate of 33% and cross US $16.3 billion by the end of 2015 – little over 2.5X predicted by Gartner. As the Indian e-commerce market is in growing stage, it will surely amplify in the future. There are some weak links but with improvements in technology these can be ironed out, making the e-commerce easy, convenient and secure. E-commerce is certainly here to stay.

This project aims to throw light on the trends in the industry, the working, the pros and cons associated with the industry, and the future of the industry. Apart from the industry as a whole, this project focuses on one of the major players in the industry: Bag It Today (BIT), an online shopping site by The India Today Group. It takes into consideration the processes involved from acquisition of a customer to delivering the goods to the customers. It would also include the comparative analysis of some of the major e-commerce players in the industry. The exploratory research was designed to collect the data and analyze the customer experience of shopping from BIT. The survey was conducted to know the customers’ perception about Bag It Today. The sample included both the existing customers and the potential customers. The analysis was conducted with the view to identify the touch points and improve the customer experience. For e.g. it would identify the products they would like to see on the site or to the extent they are satisfied with the services of the company. The major recommendations made involved the ways the company can improve its customer experience by improving its website and making it more user friendly. It also involves standardisation of the systems for easy and early detection of the problems faced by the customers.