Fashion and premium electronics dominate India’s 2024 festive ecommerce sales: Redseer
The unbranded and value segments, particularly in women’s apparel, daily-wear jewellery, and kids’ fashion, saw significant growth, with a notable boost coming from Tier II+ cities, it added.
Fashion emerged as the standout performer during festive sales, with high demand for ethnic wear, particularly men’s and women’s kurta and kurti sets, according to key insights from Redseer Strategy Consultants on the first phase of India's 2024 ecommerce festive sales.
This trend was further bolstered by the ongoing wedding season, which drove increased interest in festive attire.
The unbranded and value segments, particularly in women’s apparel, daily-wear jewellery, and kids’ fashion, saw significant growth, with a notable boost coming from Tier II+ cities, the report added.
“Ecommerce festive sales in 2024 have shown dynamic growth patterns, building on the momentum from last year. In 2023, the 9-day festive event saw approximately 19% Y-O-Y growth over 2022. This was primarily driven by high average selling price purchases such as mobiles, electronics, and large appliances, contributing to about 67% of the sales," Kushal Bhatnagar, Associate Partner at Redseer Strategy Consultants, said.
While winterwear sales were slower due to prolonged summer conditions, the report anticipates a surge in demand for outerwear and winter apparel later in October as temperatures drop and platforms prepare for the upcoming cold season.
The findings showed the demand for premium electronics—particularly air conditioners, refrigerators, and high-end home electronics—surged in India due to prolonged summer conditions and rising humidity.
Additionally, the sale of robotic vacuum cleaners and water purifiers increased in Tier I cities, as consumers invested in products for home comfort. However, the growth of the television segment was slower compared to other categories, despite the success of premium TVs during sales.
The mobile phone market experienced mixed growth, with premium brands like Apple experiencing strong demand. During the festive sales, a shift from Android users to iOS was observed, reflecting changing consumer preferences. Quick commerce platforms experienced an unexpected surge in mobile phone purchases, highlighting their evolving role in e-commerce beyond traditional product offerings.
During the festive sale period, the beauty, personal care, and home categories also experienced strong growth due to platforms introducing low average selling price items and new selections.
The beauty and personal care segment, which has seen high growth throughout 2024, continued to perform well, with quick commerce players offering a wide variety of beauty and grooming products for quick consumer access.
The home furnishings and décor segment also saw a rise in sales, driven by new product selections and increased consumer interest in upgrading their living spaces ahead of the festive season.
"The northern region has shown relatively higher growth compared to the south, with pockets in the east also experiencing strong gains. Additionally, EMI options have been more widely utilised this year, and faster delivery times have reduced cancellations across platforms. A notable new trend in 2024 is the rise of mobile purchases through quick commerce platforms, further indicating the evolving nature of consumer preferences during the festive season.” he added.
Redseer Strategy Consultants' key insights covered the first phase of India’s 2024 ecommerce festive sales, which ran from September 26 to October 6, encompassing major events like Flipkart's Big Billion Days, Amazon's Great Indian Festival, and Meesho's Mega Blockbuster Sale.
Edited by Jyoti Narayan