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There was a distinct tendency of a large number of people to opt for premium products in a range of items such as mobile phones to television sets and other appliances.
The surge in online shopping and the rush for premium items not only gladdened the hearts of online e-commerce sites such as Amazon, Flipkart and Meesho but could also signal broader consumer confidence. (Picture Credit: depositphotos)
Festive sales zoomed to about Rs 1 trillion on e-commerce sites, claimed reports, in a performance where customers from non-metro cities emerged as stars in a month-long sales blitzkrieg where buyers displayed a distinct trend to buy premium items across a range of product categories. Reports also stated that the festive season sales for a month worked out to a 20% rise compared to the festive sales in 2023.
While online platforms such as Flipkart, Amazon, Meesho recorded bumper sales, mobile phones, large-screen televisions, electronic and home appliances sold briskly, officials of the online platforms told the media. Needless to say, the sales was catalysed by convenient financing options.
Amazon Great Indian Festival
The Amazon Great Indian Festival kicked off on September 27, 2024. This platform recorded a stupendous jump of 1000% in the sales of Apple iPad and 500% growth in Samsung tablets when this shopping festival continued, an Amazon official disclosed to the media. “One clear trend that was there is premiumisation. When we look at it, whether it is televisions or fashion and beauty, gaming laptops, home and kitchen appliances, we have seen a clear trend of premiumisation. People are preferring more premium products. Again, this is not limited to just top cities,” the official was quoted as saying. Of the total TV sales, as much as 30% were large-screen TV sets. This site reportedly recorded 140 crore visits by customers – a number almost equal to India’s total population.
Sales peaked in first week in Flipkart, Amazon
Sales began with a bang in the first week itself, which was in the last week of September. More than 50% of the festive sales took place in this week with major promotions such as Flipkart’s Big Billion Days and Amazon’s Great Indian Festival. This week witnessed sales of about Rs 55,000 crore. Subsequently, sales entered a slow lane before reviving again in towards the end of the one month-period. According to reports, some sellers on Flipkart recorded 40-50% growth compared to the corresponding period in 2023.
Non-metro cities in fast lane
The growth of sales in non-metro cities is an encouraging sign not only for the e-commerce sites but also is a welcome sign for the broader economy. “It signals that people are willing to spend outside the ambit of the metro cities, where most of the consuming power is concentrated,” said investment strategist Nilanjan Dey and director Wishlist Capital. Amazon representatives told the media that more than 85% of its sales took place in non-metro cities.
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