New Delhi: The online market place was silver in the first week of the festival season. It recorded sales of over Rs 54,500 crore in a single week. This is approximately 55 percent of the total sales expected during the next month.
Sales increased by 26 percent
According to data from Datum Intelligence, the e-commerce platform has seen a growth of 26% in the first week compared to the same period in 2023. Mobiles, electronics and consumer durables, home and general merchandise accounted for 75% of sales during the period, while smartphones and TVs accounted for over 70% of sales in tier 2 and 3 cities. The first week of the festive sale is the most important part of it. Customers eagerly wait for this time. They postpone their purchases of last several months till the initial weeks so that they can avail the benefits of discounts and offers in the festive sale.
estimated sales of one lakh crore
The festive month started from 26th September. At the same time, Great Indian Festive went live on online shopping platform Amazon and Big Billion Day Sale went live on Flipkart. The festive month will continue till November 3 and sales are expected to be Rs 1 lakh crore.
what are people buying
According to the report, sales of fashion, grocery, beauty and personal care items have seen an increase of 2-4 times. Smart televisions, air fryers, luggage, security cameras, mattresses, water purifiers, laptops, air conditioners, water heaters, washing machines, ghee and dry fruits are other categories that witnessed high interest from customers.
Here are the driving factors
The main reasons for festive shopping were offers and EMI options, with more than 50 per cent of buyers of TVs, washing machines, laptops and refrigerators opting for EMIs. Categories like toys, books, kitchen essentials saw a 2-5x increase in the number of orders during the first week. “Consumer focus is now shifting towards quick-commerce, with lower average selling price categories playing a key role, including grocery, beauty and personal care,” the report said.