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Festive sales on Indian e-commerce platforms cross Rs 54,000 crore in 1st week
Online e-commerce platforms in the country saw sales worth over Rs 54,500 crore in the first week of the festive season, about 55 per cent of total sales projected during the next month.
New Delhi : Online e-commerce platforms in the country saw sales worth over Rs 54,500 crore in the first week of the festive season, about 55 per cent of total sales projected during the next month.
According to latest data from Datum Intelligence, a market research firm focused on consumer technology, the e-commerce platforms saw a 26 per cent in the first week of the festive sale, compared to the same period in 2023.
Mobiles, electronics and consumer durables, home and general merchandise categories accounted for 75 per cent of sales during the period, while smartphones and TVs accounted for over 70 per cent of sales in the tier 2 and 3 cities.
The festive month started from September 26. It will continue till November 3 (post Diwali) and sales are expected to be Rs 1 lakh crore.
According to the report, sales of fashion, grocery, beauty and personal care items have seen an increase of 2-4 times. Categories like toys, books, kitchen essentials saw 2-5 times 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.
With the festive season in full swing, Artificial Intelligence (AI), quick-commerce, and the rise of micro-influencers are some factors playing a leading role in influencing festive purchases this year.
Meanwhile, another report said that the festive period, which ends after Diwali, is expected to see more than 35 million smartphones being sold this year, a growth of 3 per cent YoY in terms of volume and 9 per cent YoY in terms of value.
Notably, the ultra-premium segment (Rs 45,000 and above) saw 12 per cent YoY growth during the first wave of festive sales, thanks to Apple and Samsung. The festive season contributes to 20-25 per cent of the smartphone annual sales.
