Festive sales 2024

$6.5 Billion in Festive Sales: Mobile Phones and Electronics Lead the Surge

The festive season in India has kicked off with a bang as online marketplaces reported a whopping $6.5 billion in sales during the first week of festive promotions. The sales, which took place from September 26, 2024, marked a staggering 26% increase from last year.

Leading the charge were mobile phones and electronics, with consumers showing a strong preference for higher-end products. According to Datum Intelligence, these two categories, along with consumer durables and general merchandise, accounted for nearly 75% of the total sales.

Key Players Dominate the Festive Season

Amazon India and Flipkart were at the forefront, launching their flagship sales—Great Indian Festival and Big Billion Days, respectively—on September 27. Members of their loyalty programs, Amazon Prime and Flipkart Plus, enjoyed early access from September 26, setting the tone for a high-paced shopping spree.

Not to be outdone, Meesho joined the fray with its Meesho Mega Blockbuster Sale, which saw a 40% year-over-year increase in orders. Interestingly, Meesho’s data revealed a growing appetite for festive purchases in smaller cities, with nearly 45% of shoppers coming from Tier-IV towns.

Vidit Aatrey, Meesho’s co-founder and CEO, stated, “Our first week has exceeded expectations. The demand was front-loaded, indicating that consumers carefully planned their purchases to ensure timely delivery before the festival rush.”

E-Commerce Expands Beyond Metro Cities

While metro cities like New Delhi, Kolkata, Hyderabad, and Bengaluru remained dominant shopping hubs, there has been a noticeable shift in demand from Tier-II and Tier-III cities. A Flipkart executive confirmed that smaller regions like Medinipur, Hisar, Berhampore, Bankura, and Agartala have shown tremendous growth. This surge in demand from non-metro areas reflects the broader reach and appeal of e-commerce during the festive season.

The Festive Frenzy Continues

Sales from the week beginning September 26, 2024, contributed to nearly 55% of the total festive season e-commerce sales anticipated this year, according to Datum Intelligence. With more shopping days ahead, the festive season is poised to break further records, as Indian consumers continue to splurge on everything from electronics to home goods.

Conclusion:

As India’s festive season kicks into high gear, online marketplaces are cashing in on consumers’ desire for the latest mobile phones, electronics, and consumer durables. Festive sales 2024, With $6.5 billion in sales in just the first week, companies like Amazon, Flipkart, and Meesho have positioned themselves to capitalize on this growing demand. Beyond the metro cities, the rise in demand from Tier-II and smaller cities reflects the widening reach of e-commerce across the country. As the festive season unfolds, these platforms are set to smash sales records, driven by a mix of planned purchases and last-minute festive excitement.

FAQs:

1.How much did online marketplaces sell during the first week of festive sales?

A. Online marketplaces sold goods worth $6.5 billion during the first week of festive sales, a 26% increase from last year.

2.Which categories dominated the sales?

A. Mobile phones, electronics, consumer durables, and home/general merchandise accounted for 75% of the total sales.

3.When did Amazon and Flipkart start their festive sales?

A. Amazon and Flipkart started their annual festive sales on September 27, 2024, with early access for Prime and Flipkart Plus members from September 26.

4.How did Meesho perform during the festive sale?

A. Meesho saw a 40% year-over-year increase in orders, with strong demand from Tier-IV cities, where nearly 45% of shoppers were based.

5.What is the significance of sales in Tier-II and smaller cities?

A. The demand from smaller cities like Medinipur, Hisar, Berhampore, and Bankura highlights the growing reach of e-commerce beyond major metros.

6.What percentage of total festive season sales occurred in the first week?

A. The first week of festive sales contributed 55% of the total expected sales for the entire festive season.

7.Why were sales front-loaded during the first week?

A. Many consumers planned their purchases early to ensure delivery before the festivals, driving strong demand in the first week.

8.Which online marketplaces led the festive sales?

A. Amazon, Flipkart, and Meesho were the key players during the first week of the festive season, offering exclusive deals and discounts.

9.What caused the 26% year-over-year sales increase?

A. The increase was driven by a higher volume of purchases in mobile phones and electronics, as well as increased participation from smaller cities.

10.What role did loyalty programs play in the festive sales?

A. Loyalty programs like Amazon Prime and Flipkart Plus gave members early access to sales, encouraging more users to take advantage of exclusive deals.