E shopping on surge; eBay sells a product a minute

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FOREIGN FUNDS NET BUY RS.267.6 CR ($56.8 MN) IN EQUITIES ON NOVEMBER 5
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Updated: 03/08/2008 | 01:08 PM IST

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E-shopping on surge; eBay sells a product a minute

Press Trust of India

Sunday, August 03, 2008 (New Delhi)

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Internet shopping seems to be catching up fast in the country with every minute one product being sold on the Indian website of the world's largest online marketplace eBay.

Moreover, it is not software or other computer-related products that are catching the attention the most. It is jewellery that is the most sought and a piece of it is sold every seven minutes on eBay India, the US-based Internet auction and marketplace giant eBay's India country manager Ambareesh Murty said.

However, when it comes to the profile of people buying goods, men in the age-group of 25-30 years account for 70-75 per cent of the shoppers on eBay India, he said.

Commenting on the buying trends of products between the two sexes, Murty said that electronic gadgets are popular among male buyers and jewellery is the obvious choice of Indian women.

Besides, apparel category is the other area which is a favourite among women buyers, he said.

Coins or currency notes, mobile handsets, stamps, books, music players and watches are other popular products being sold and purchased on the website.

According to data compiled by eBay India, on an average day a piece of jewellery is sold every seven minutes, a coin or note sells every 16 minutes, a stamp sells every 19 minutes, an apparel sells every 22 minutes and a book is sold every 27 minutes.

Besides, eBay India sells a storage device or drive every 27 minutes, a home decoration piece every 34 minutes, an MP3 player every 39 minutes, a watch every 44 minutes, a movie every 55 minutes, a digital camera every 72 minutes, a top every 74 minute and an art piece every six hours.

Founded in 1995, eBay is one of the world's largest online marketplace and is present across 39 countries. It expanded into India through acquisition of Baazee.com and eBay India has over two million registered users.

The website has three formats including auction, fixed price and classifieds. The company says that its India website has over one lakh live listings on any given day.

Recently, eBay India conducted a charity auction for a day with Bollywood actress Priyanka Chopra on sets, which fetched Rs two lakh. Besides, cricket star Sacin Tendulkar's bat got Rs one lakh bid on ebay for a charity cause.