E-Commerce Platforms Ring In Festivities With Sales Of Over Rs 50,000 Crore In First Week
The festive month started from Sept. 26, which is when Amazon's Great Indian Festival and Flipkart's Big Billion Day sales went live.
Online marketplaces have witnessed sales of over Rs 54,500 crore in the first week of the festive period, accounting for nearly 55% of total sales projected during the next month or so.
According to data from Datum Intelligence, e-commerce platforms have seen a growth of 26% in the first week, as compared to the same period in 2023.
Mobiles, electronics and consumer durables, home and general merchandise accounted for 75% of the sales during this period, with tier 2 and 3 cities accounting for more than 70% of smartphone and TV sales.
The first week is the most essential part of festive sales, with households postponing their purchase decisions of the preceding months to this week, in the want for discounts and deals. The festive month started from Sept. 26, which is when Amazon's Great Indian Festival and Flipkart's Big Billion Day sales went live, and will go on till Nov. 3, and sales worth Rs 1 lakh crore are expected.
Fashion, grocery and beauty and personal care sales also saw a jump of 2-4 times and the sales will be distributed throughout the festive period. "Smart television, air fryers, luggage, security cameras, mattress, water purifiers, laptops, air conditioners, water heaters, washing machines, ghee and dry fruits are the other categories which saw high interest from customers," the report said.
The top reasons for festive shopping were offers and EMI options, with more than 50% buyers in TVs, washing machines, laptops and refrigerators opting for EMI.
Categories like toys, books, kitchen essentials saw a 2-5 times jump in number of orders during the first week.
"The focus now shifts to quick-commerce where low average selling price categories like grocery, beauty and personal care and general merchandise have a major role to play," the report said.
Per an earlier Datum Intelligence report, as many as 79% festive shoppers are set to begin shopping early in the month. Further, quick commerce is to account for about $1 billion in sales, and make up 8% of total online sales.
