E-commerce firms see y-o-y increase of 28% in sales on first two days of festival season

26 Sept 2022 , 04:29 PM

In the first two days of the festival sales this year compared to the same period in 2021, e-commerce businesses recorded a 28% increase in orders. Over 32% more festival orders were placed in Tier III cities than in Tier II cities, according to e-commerce technology company Unicommerce, while over 20% more were placed in Tier II cities. Tier 1 cities reported an increase in order volume of 28%.

Unicommerce examined information on more than 7 million orders placed on September 23 and 24, 2021, with sales occurring on October 3 and 4. As more people choose to purchase online throughout the holiday season, it was noted that "online purchasing trends have evolved dramatically over the years."

With a year-over-year (YoY) order volume rise of over 70% during the first two days of the holiday season sale in 2022, personal care was the category with the biggest growth. A 48% YoY increase in order volume was observed for the electronics category (excluding mobile phones). Audio items and intelligent wearables are the main drivers of electronics growth.

With the highest order volumes, the fashion industry continues to dominate. Despite the segments reporting a 7% YoY increase in order volume, this rise is enormous in absolute terms given the large order volumes. During this holiday season sales, in other markets including furniture, jewelry, gift items, and home décor have also seen a significant increase.

As e-commerce companies like Flipkart, Amazon, Meesho and Myntra launched their largest festival season discounts on Friday, millions of buyers rushed online to take advantage of the unique offers being offered despite worries about inflation and discretionary spending.

The Big Billion Days (TBBD), Flipkart's annual signature event, had 1.6 million app users active at once during its ninth iteration. The most popular product categories were laptops, smartwatches, and wifi. The cosmetics and fragrance categories also did well. Bicycles were the most popular product in the sport and fitness category throughout the first 24 hours of the event, with one cycle being sold every second.

The majority of new subscribers to Amazon.in's Prime program (68%), which is available in tier two and three cities, came on a single day. Tier 2 and Tier 3 cities accounted for more than 60% of Amazon Fashion sales. In just 36 hours, Amazon Business saw a 50% increase in customers and 100% in orders. Over a typical work day, Amazon Fresh increased by more than 2.5 times.

Meesho reported that on the first day of its signature sale event, the Meesho Mega Blockbuster Sale, it received an unprecedented 8.76 million orders. This is the most orders the SoftBank-backed company has ever received in a single day.

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