Tamil Nadu - Chennai   

Trading on Internet gaining popularity

By Our Staff Reporter

CHENNAI, JUNE 5. Trading on the Internet is fast becoming popular in Chennai, especially among youth. After paying utility bills online, shopping is also a trend that is catching on with Chennai residents.

Here are the findings of a recent survey conducted by an online trading organisation:

About 35,000 transactions took place in 2003-04. Fifty seven per cent of buyers are below thirty years of age. Twenty five per cent of them are in the age group of 31 - 40 years. Forty five per cent of payment is done using online bank transfer (credit cards and online bank transfer).

Releasing the findings here on Saturday, Samarjeet Singh, Group Category Manager, Bazee.com, which conducted the survey, said, "The web site not only enables sellers to make extra money, but also entrepreneurship with minimum risk. Besides, a nationwide platform gives them an opportunity to reach out to buyers all over India."

The findings of the survey are based on the transactions that took place on the organisation's site. The company transacted about 80,000 a month all over India. In the last financial year, Bazee.com recorded a turnover of approximately Rs. 100 crores.

Internet trading communities provide a platform for both the buyer and the seller. One can avail oneself of products and services ranging from jewellery to apparel, electronic gadgets and travel. According to a press release by the company, additional services such as auctioning, quick buys and classified modes of person - to - person trading are also available.

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