Over 90% of Indians are open to sharing personal information to personalize their shopping experience: study

The study found that 91% of Indian shoppers are willing to share personal information with retailers to provide them with a more personalized shopping experience. According to global MarTech research and the Netcore Cloud customer experience study, consumers have two main expectations from brands – free delivery and support. The Ecommerce Mindscape India 2024 study mentioned that customers are willing to spend a little more for “relevant recommendations, generous loyalty programs and more frequent offers/discounts.” However, around 86% of shoppers expressed frustration with frequent notifications from brands. Consumers surveyed favored a maximum of three interactions per week and no more than once on channels such as WhatsApp. 46% of consumers said brands show them “irrelevant offers and discounts” and 43% of consumers said they receive irrelevant recommendations.

According to the study, the Indian e-commerce market is expected to reach $350 billion by 2030 from $99 billion in 2024, driven by large platforms such as Flipkart, Amazon and Myntra and the growth of direct-to-brands. Consumer (D2C). focusing on specialized and personalized products.

Tier 2 and 3 cities are leading the growth in online shopping as 9 out of 10 Indian consumers now shop online. While 86% prefer to shop on apps, mobile sites and desktops. About 18% of buyers choose the ROPO (online research and offline purchase) route, as mentioned in the study.

As many as 70% of CEOs are increasing investment in generative AI, improving data collection, analysis, prediction, security and content creation capabilities to support growth and innovation in the emerging e-commerce sector. Marketers are prioritizing retention and repeat purchase strategies to ensure sustainable, profitable growth in the face of rising CAC to increase profitability.

Mahesh Narayanan, Chief Marketing Growth Officer at Netcore Cloud, said on the growth of the Indian e-commerce market: “Today, consumers are looking for convenience and unique offers, leading to a highly competitive landscape. With the Indian e-commerce market expected to reach $350 billion by 2030, even as marketplaces dominate, D2C brands are making significant strides, achieving an impressive 3x growth. This report is therefore essential for marketers as it highlights key strategies for navigating this emerging market and capitalizing on emerging opportunities.”

The Netcore study was conducted on a group of over 2,000 consumers from over 10 countries.