E-commerce platforms saw an explosive start to the 2024 festive sales, with Datum Intelligence reporting that Rs 26,500 crore of GMV was generated within the first three days, beginning September 26. The festive season sales period, which stretches until Diwali, is crucial for retailers, accounting for a significant portion of their annual revenue.
According to the report, mobile phones, consumer durables, and electronics drove 79% of sales, reflecting a continued trend toward tech-related purchases during the festive season.
Flipkart and Meesho Witness Surge in Demand
Flipkart, one of India’s largest e-commerce platforms, saw 330 million user visits during the initial days of the sale. The company highlighted a surge in demand for categories like mobiles, large appliances, fashion, and beauty products. Meesho, focusing on more affordable items, experienced a 2.5X growth in orders through its Mall unit, while nearly 45% of these orders were from first-time buyers.
Fashion Continues to Dominate Sales
Fashion remained a prominent category during the sales season. Myntra reported a 15X increase in new users and a 2X spike in orders per minute compared to the previous year. The platform saw consistent demand across core fashion and emerging categories, reflecting the ongoing appetite for trendy apparel during festive shopping.
Growing Sales in Tier 2 and Beyond Regions
While metro cities like Mumbai and Delhi accounted for around 60% of sales, smaller towns and cities played a substantial role in this year’s festive sales. Regions like Medinipur, Hisar, and Agartala contributed to around 40-45% of the overall sales, showing the growing influence of non-metro customers.
Rapid Delivery Services Boost Large Purchases
Rapid delivery platforms like Flipkart Minutes contributed significantly to high-value purchases, particularly in urban areas. In cities like Mumbai and Delhi, a considerable share of electronics sales came through these hyperlocal services. Quick commerce companies such as Blinkit, Swiggy Instamart, and Zepto are also pushing large-ticket items, including electronics, to drive profitability and improve average order values.
