In most organisations today, management teams keep harping on the need to constantly innovate. People who come out with innovative ideas are sought after and amply rewarded. To me, innovation does not only mean creating a product no one has ever thought of before. It often is meeting a real need of customers by thinking through their problems and coming out with a neat solution.
Drawn by the facility offered by the web and the diversity of products available on it, Indian netizens have emerged as the third biggest credit card users globally for online purchasing, says an article in the Times of India.
According to a global online survey conducted by leading research firm Nielsen, more than 85 per cent of internet users in the world are purchasing goods or services online, while credit card has emerged as the most famous payment method for such purchases.
As many as 84 per cent of online shoppers from India said they have used credit cards for such transactions, next only to 91 per cent in Turkey and 86 per cent in Ireland.
India shared the third position with the UAE, which also has 84 per cent of online buyers using a credit card.
“Shopping on the Internet with the ease of a credit card is especially appealing to consumers in emerging markets who simply cannot find or buy items they want in their retail trade. The Internet has opened up a whole new world of shopping for these consumers,” Nielsen’s US Customized Research Vice-President Bruce Paul said.
The survey found that credit cards are by far the most common method of payment for online purchases with 60 per cent of global online consumers having used their credit card for a recent online purchase. Among the various credit cards, more than half or about 53 per cent used a Visa card.
Globally, more than half of Internet users have made at least one purchase online in the past month.
Most popular purchased items over internet are books (41 per cent purchased in the past three months), followed by articles like clothing/accessories/shoes (36 per cent), videos / DVDs / games and airline tickets constituted about 24 per cent.
In an era of fast cash, people go around with an array of credit cards. Some flaunt a fistful of cards arranged like a sheaf from a pack of playing cards.
Does your spending increase due to credit cards? The thinking seems to suggest so. Shop keepers actually dislike credit cards because they eat into their margins but are pretty much compelled to accepts them-simply because other shopkeepers do. Competition is the name of the game.
If you use them sensibly, credit cards are a boon. As we would say in India “Credit Card, Zindabad!” (Long Live, Credit Card)