18% financial products sold online in India: Study

According to a joint study by Google and strategic market research firm Media Screen, while 18 per cent of all financial products are sold online in India, 68 per cent users go online to research for financial products that interest them.

The study also reveals that search engines (60%) and financial company websites (57%) are the online sources used most frequently for financial research. Google was found to be used by 96 per cent of people using search engines for research on financial service products.

Sridhar Seshadri, business head, financial services, Google India, has said, “The dependency of financial services on online marketing will grow dramatically over the next few years, with initiatives such as simple customer acquisitions, up-selling, cross-selling and major cost cutting initiatives from advertisers.” [Source: LiveMint ]