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Indian Consumers In Tier-2 Cities Take Advantage Of Online Transactions: Report

Indians in tier-2 cities more adept at online transactions

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Online transactions
Indian consumers in tier-2 cities have adopted online transactions for shopping due to its convenience. Pixabay

Indian consumers in Tier-2 cities are taking the most advantage of online transactions and they are ahead of consumers in metros and tier-1 cites when it comes to shopping, wallet transfers and booking tickets, revealed a new report on Wednesday.

Convenience and time-saving are the top motivators for making online transactions, said the report from cyber security company NortonLifeLock.

Consumers make the maximum online financial transactions for shopping (91 per cent) closely followed by bill payments (88 per cent).

“It is impressive to see that consumers in India are embracing the world of digital and choosing to access the Internet for various routine activities such as paying bills, transferring money, booking tickets and more,” Ritesh Chopra, Country Director, NortonLifeLock, India, said in a statement.

“However, it is more important than ever for consumers to be aware of potential risks and to stay vigilant while making transactions online. Cybercriminals are looking to take advantage of consumers who may be less security minded and distracted by the excitement of shopping online sales,” Chopra said.

City-based millennials engage in more financial transactions online than any other generation surveyed, the research showed.

Online transactions by consumer
Nearly seven in 10 Indian consumers making online transactions are willing to save their personal bank details on the websites they trust. Pixabay

The research showed that nearly seven in 10 Indian consumers making financial transactions online are willing to save their personal bank details on the websites they trust, while more than 8 in 10 think financial fraud and data theft are the biggest threat to online banking, said a report on Wednesday.

NortonLifeLock, however, warned that consumers should only use sites that they know and trust or have been recommended by people they know.

“Phony shopping sites can be hard to tell apart from the genuine ones, and even legitimate sites can be hijacked. Check the site address carefully for subtle differences, like minor errors in spelling or grammar,” said the company.

While digital wallets are seeing an increase in uptake, only 69 per cent of Indian respondents reported engaging in wallet transfers, said the report.

Also Read- Only 3% Indian Digital Marketers Calculate ROI Correctly: LinkedIn

Further, the report revealed that the respondent women are ahead of men when it comes to their awareness of data collection through cookies and the use of search results for marketing purposes.

The findings are based on an online survey of over 1,500 city-dwelling adults in India. (IANS)

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Here’s Everything you Need to Know about Shopping Addiction

Are you addicted to shopping? Then here's everything you should know

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Young women suffer from shopping addiction. Lifetime Stock

BY SIDDHI JAIN

Shopping addiction, a behavior particularly common in young women and online shoppers, can give you signs that it has arrived for you.

Anuneet Sabharwal, a Delhi-based psychiatrist, lists signs of shopping addiction and how you can de-addict yourself.

There are two different types of addictions, behavioral (like addiction sex, porn, shopping, etc) and substance use (addiction to alcohol, cigarettes, drugs, etc), he told IANSlife.

addiction of shopping
Signs of shopping addiction includes withdrawal symptoms. Lifetime Stock

Signs of a shopping addiction:

1. Tolerance, you need more and more doses of that particular behavior to get the same satisfaction

2. Withdrawal, both emotional and physical.

3. Neglect of other activities and obsession to the point that you’re not able to take any action on it

4. You are unable to control what you’re shopping when you’re shopping, you’re unable to maintain your social and occupational life

5. Whenever you are not shopping, you’re thinking about shopping and you’re experiencing some kind of distress, so it becomes a way for you to release stress.

6. You have a high for the buy. You’re thinking about the next binge of shopping.

Addiction
People suffering from shopping addiction show signs like neglecting all other activities except for shopping. Lifetime Stock

Shopping addiction is mostly diagnosed in young women (early 20s to late 30s), which has a strong cultural component to it. It appears to be more in women than women, just like alcoholism is more prevalent in men. “Also, now everywhere you see, there’s branding and a nudge to shop,” the expert said.

How to de-addict?

1. It affects those who do online Shopping. Get rid of all your debit and credit cards, and adopt cash. You have to then drive to the shop. Place barriers between you and the addiction.

Also Read- The Main Benefits of Opening an Online Business

2. Your craving lasts for less than 2-3 minutes to manage it during that time.

3. Remove visual cues like apps on your phone that prompts you to indulge in shopping behavior. (IANS)