Customers across segments are moving towards premium products: Amazon India official
Fashion and beauty are seeing a huge demand, while mobile phones, electronics, and home and kitchen appliances have been the all-time favourites of customers, according to the official from Amazon Fashion India.
Customers in the age group of 11 to 26 years are massively adopting online shopping, said a senior official from e-commerce firm .
Speaking on the sidelines of 'Amazon Xperience Arena', Saurabh Srivastava, Vice President, Amazon Fashion India, said the company is seeing a trend of customers across segments moving towards premium products.
Amazon Fashion is a business unit under Amazon India.
"GenZ, what we call the next generation, customers 11 to 26 years old, they are adopting online shopping in a big way," he said.
The company organised 'Amazon Xperience Arena' at Delhi College of Arts and Commerce to give a preview of its festive season sale, Amazon Great India Festival, which starts on October 8.
The company will open up early access for its paid subscribers from October 7 onwards.
"There are few trends ... emerging that we are focused on. Customers across segments are looking for premium products. We are seeing a clear trend of premiumisation," Srivastava said.
He said that fashion and beauty are seeing a huge demand while mobile phones, electronics, and home and kitchen appliances have been the all-time favourite choices of customers.
During the Amazon Great India Festival last year, which started on September 22, 2022, 80% of customers hailed from Tier II and smaller cities. Mobiles and accessories saw strong double-digit growth in the 2022 season compared to the season in 2021 and business was five times higher compared to average business days.
Srivastava said the business growth registered during last year's festive season sale has become business as usual and the company expects to touch a new peak during the upcoming Amazon Great India Festival.
E-commerce companies are estimated to have generated a total sale of around Rs 40,000 crore during the first phase of the festive season sales.
A recent report by market research firm Redseer projects online sales during the upcoming festive season to grow by 18-20% and touch Rs 90,000 crore this year.