A PayPal report reveals why millennials are driving India’s mobile commerce economy
The gen-next of mobile shopping
India has close to 242 million people between the ages of 10 to 24. While most millennials are unpredictable, if there’s one thing we know for sure about them, it’s that they cannot live without their phones. They’re driving India’s economy digitally, and their buying habits are worth taking note of. PayPal’s mCommerce report of 2019 offers interesting insights into the shopping patterns of this difficult-to-understand generation.
While 78 per cent Indians rely on their smartphones to shop, 82 per cent of them are millennials. A lot of the online shopping happens when people are relaxing at their homes, and four in every 10 individuals make these decisions spontaneously, says the report. Surprisingly, 41 per cent of millennials who are using their phones to shop do so while they’re physically present at a store; 30 per cent do it when they’re out with their friends; and 47 per cent of them make these decisions in the spur of a moment.
But, what is it that drives them to shop through their screens? The answer is simple. PayPal’s report shows how more than 50 per cent of the people find mobile shopping convenient and timesaving. But, lack of connectivity and trust can act as barriers to these mobile interactions. In fact, 31 per cent of Indians have left items in their online shopping cart and waited for another lucrative offer instead.
But there’s some good news too.
Ninety eight per cent of Indians, according to the report, pay via an app while shopping through their mobile phones and 72 per cent of them do this on a weekly basis. Social media is also a big driver of such sales. Plus, the search for high-quality products often leads these mobile shoppers to buy from international sellers. The majority of online shoppers (seven in 10) say that PayPal’s availability gives them a sense of security to shop via their phones and with good reason. Who has the time to go to the mall anyway?