Credit Cards and Online Marts add to the Growth of the Indian Retailing Market

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) November 25, 2005 -- There is a steady increase in web shops from online purchase portals like Fabmart, Bazee, Indiatimes, Freemarkets, Indiamart, Hamracd etc. Such purchases, made through credit cards, have given to credit card majors like Visa, a 64% leap in its spending in India to US $4.0 billion for the year ending June 2005 with a total of 44% Visa cards being issued.

In India where e-retailing is very small, it can be increased by full scale use of credit cards, secured transaction portals, and larger use of the Internet. In a market research report �Indian Retail Sector - An Outlook [2005-2010]� published by RNCOS, it is said that in 2001, Internet trade was valued at $157 million, and 6.8 million people out of 1100 million contributed in such transactions. The online grocery stores were found to be visited twice by a customer in comparison with one visit at general supermarkets.

At present, the top ten A class cities in India make major contribution to online transactions, but by 2006, the B and C class cities are expected to add to it by making 39% of total online purchases. This expansion of online shopping would be enhanced by greater penetration of credit cards, home PCs, broadband connections, and secured portals.

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