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The first four days of the 2024 festive season sale (26th - 29th September) saw a 20 per cent increase in order volumes compared to the same period last year (7th - 10th October 2023) and gross merchandise value (GMV) also surged by 24 per cent, according to a report by Unicommerce.
Unicommerce's analysis of over 1.3 million order items processed through its platform during the initial sale days in both years revealed noteworthy growth across several product categories. Fashion and accessories recorded an impressive 32 per cent rise, driven by high demand for travel accessories, watches, and kids' apparel. The makeup segment saw a spectacular 54 per cent year-on-year (YoY) growth, reflecting a significant consumer interest in beauty products. The health and pharma segment also demonstrated strong performance, registering a 33 per cent rise in volumes, with nutraceuticals and fitness supplements leading the way in demand. In the home decor segment, while volumes only experienced a marginal increase, the category reported a remarkable over 50 per cent jump in GMV. Other product categories that saw a surge in demand include phone accessories, books, sports and fitness products, and healthy snacks, further highlighting the diversity of consumer preferences during the festive season. Kapil Makhija, Managing Director & CEO of Unicommerce, highlighted the evolving consumer trends, stating, "Festive season sales have become an exciting time when everyone looks forward to attractive offers and a wide range of products. What stands out is the increasing number of brands joining the sale, reaffirming India's position as a digitally forward country." With more festive sales events lined up in October for Navratri, Dussehra, Karva Chauth, Diwali, and other celebrations, the early momentum indicates a robust season ahead for India's e-commerce industry. (ANI)
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