With the onset of Festive season of sales, there is a major shift in the shopping trend. People are now opting for the latest smartphones and other tech gadgets over clothing and other home goods.
This ongoing trend is not only reshaping the holiday shopping landscapes. But also making the retailers focus on offering more tech products to the consumers with great deals.
E-Commerce Sites faces Surge in Sales
In this festive session of 2024, e-commerce sites have received a significant surge in its sales. The latest reports estimate indicates the total sales have crossed INR 54,500 crore during the first festive week of the season, (September 26, 2024 to October 2, 2024). The forecast for the overall festive season sales is expected to be a record $12 bn, up by 23% over the $9.7 bn of the previous fiscal.
Several big platforms like Flipkart, Amazon, Meesho, and Myntra also witnessed a good traffic and volume.
Sales of Electronic Devices boost in Top Tier cities
Flipkart witnessed 330 million visits to the site, during the first day of the Big Billion Days sale event. Likewise, the sale of Amazon had also surpassed to 110 million customers within two days of the Festive seasons.
The major products include communication devices, smartphones, gadgets, electronics, home appliances and others which constituted 79% sales demand. Also, there was a great increase in the growth of orders from tier-2 cities, reflecting the emergence of the e-commerce platforms across the country.
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There is also surge in consumer durable products including the double door refrigerator and Smart TVs.
While more than half of the buyers selected the EMI payments including many of the buyers from Tier-2 and tier-3 cities.
Amazon reported more than 60% of premium smartphones category sales. More than 70% of television sales were received from the two or three tier cities.
Amazon Great Indian Festival 2024
The company stated this year that the Amazon Great Indian Festival 2024 started with first and second-day sales. The event drew almost 11 crore customer visits according to Amazon, describing it as their best start ever. An impressive 80% of these trips originated from Tier-2 cities and other tier-3 and tier-4 clearly indicating an increasing number of consumers from non-Tier-1 cities.
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More than 8000 sellers made the sales of INR I lakh during this period, with a significant rise in prime membership purchases. The customers who had early access to Prime deals have purchased eight times higher than they usually shop on regular days. This indicates that their shoppers have developed a lot of interest for buying different products during this special sales period.
Over 75% of the sales were received from Tier-2 and Tier-3 cities. Nearly 70% of smartphone purchases priced above INR 30,000 were received from smaller cities.
Expected Sales in Festive Season
Additionally, the sales are anticipated to grow by 23% during this festive season upto Diwali. The sales are expected to reach nearly Rs 100,000 crore, which is 7% higher as compared to last year’s sales.
Kanishka Malhotra is a seasoned journalist with a deep passion for reporting and uncovering the truth. With a specialization in research and investigative Journalism, she has covered wide range of topics related to social issues, travel, lifestyle, technology, Entertainment and much more. She believes to express and share her creativity to the world through words. With relentless pursuit of knowing and uncovering the truth, Kanishka continues to leave a mark in the world of journalism.
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