India saw robust online sales worth Rs 76,000 crore in the festive month from September 22 and October 23, a 25 per cent year-on-year (YoY) growth.
New Delhi, Nov 18,2022: India saw robust online sales worth Rs 76,000 crore in the festive month from September 22 and October 23, a 25 per cent year-on-year (YoY) growth.
According to Bengaluru-based Redseer Strategy Consultants, the tier 2 and above cities drove this growth and contributed 57 per cent of festive GMV (gross merchandise value).
The growth was largely driven by the fashion category, led by unbranded fashion.
“While mobiles and electronics continue to dominate category share, home & kitchen, groceries and beauty personal care were the fastest growing categories. Grocery grew almost 2X from last festive season,” said Sanjay Kothari, Associate Partner, Redseer Strategy Consultants.
Festive Sales have largely become a tier 2 and above phenomenon with 64 per cent of transacting shoppers coming from those cities.
Within beauty, makeup was the most sought-after category with a lot of interest in looking and feeling good, the report mentioned.
In home furnishing and decor, cushion covers, showpiece and decor accents contributed most to the growth.
“Three in four sellers we surveyed reported at least 2X volume growth from business as usual (BAU) during sale days, with strong support from platforms in planning and executing the festive season well. This increase was more visible in lower ASP categories like fashion where 42 per cent of the sellers reported a 3X to 5X growth from BAU,” Kothari said.
Offline retail stores saw robust footfalls during Diwali this year, which is also evidenced by growth seen from movements in Google Mobility Index.