The Indian government is quite interested in your online
spending habits. In fact, it is interested enough that government surveys that
will seek to analyze your spending habits and exactly how you decide to divide
money while purchasing stuff online, will begin next month. The survey will
deal with the spending patterns of the India populace, while they are
conducting transactions over e-commerce.
The consumer expenditure survey is slated to kick off
next month. The survey will continue until June, next year. It is being carried
out by the by the National Sample Survey Organization, which comes under the
awning of the statistics ministry.
So, this survey is an annual exercise. However, it did
not reckon the country’s e-commerce spendings —until now. Well, the powers that
be now feel that the country’s e-commerce sector has grown enough to merit a
niche in the survey. Government data managers are now finding ways to
incorporate online spendings into the survey as well.
True, the e-commerce sector is pretty insignificant when
compared to the retail market. I mean, you would be looking at around $14.5
Billion as compared to the country’s total retail spending which stands well
over $750 Billion. However, e-commerce spending is only going up as Internet
penetration in the country rises.
If you need some more statistics to convince you that
India’s online market is slated to grow, consider this: In the Asia Pacific
region, somewhere around one fifth of the total retail sale will take place
online, as early as 2021. And guess which the fastest growing market is? Well,
India of course. Indeed, the country is the fastest growing retail market in
the whole world!
So, it stands to reason that the government would be
interested in this data. The national expenditure survey will cover as many as
1.2 lakh households and will source its data from 1.2 lakh households spread
across 5,000 urban blocks and 7,000 villages.
The data will help the government co-relate online
spendings and inflation. It could also use the data to predict stuff and gauge
the habits of the demographics. This data could prove to be priceless in the
future, once Internet penetration ensures that more people get on the