E-commerce Industry Volumes higher by 20%, GMV up 24% compared to last year
~ Travel accessories, kids apparel, makeup products, fitness supplements & sports items, watches, books, phone accessories as well as healthy snacks were most in demand during the initial sale days of this year’s festive season ~
1 October 2024, Bangalore:The much awaited holiday season sales on e-commerce are off to a great start.Compared to the first four days of the festive season sales last year (7th – 10th Oct 2023), e-commerce order volumes increased by 20% during the first four days of the festive season sale in 2024 (26th-29th Sept 2024).The gross merchandise value (GMV) rose by 24% over the same time the previous year.
One of the leading SaaS platforms for e-commerce enablement in India, Unicommerce, looked at almost 1.3 million order items processed through its platform in the first few days of the sale in both years to assess the trends for this year.
Fashion and accessories, which saw a 32% spike in volume, is one of the product categories that saw a noticeable increase in demand. Products like watches, kids’ clothing, and travel items are in high demand.During this festive sale, makeup goods showed an astonishing YoY gain of 54%. The most sought-after products in the health and pharmacy market, which showed a significant 33% increase in volume over the previous year, were fitness supplements and nutraceuticals.
The home décor category saw an astounding 50%+ growth in GMV over the previous year, despite just a slight increase in volumes.This indicates that consumers’ desire for higher-value products has grown significantly in the home design and furnishings sector.
Other products that witnessed high demand during this period include phone accessories, books, sports & fitness products and healthy snacks among others.
Kapil Makhija, MD & CEO of Unicommerce highlighted the evolving trends during the festive season sale and said, “Festive season sale has become an exciting phase of the year when everyone awaits the attractive offers and the extensive variety of products. While this continues as a trend year after year, we see an increasing number of brands participating in the sale season, affirming India’s status as a digitally forward country.”
The increase on both volumes & value highlights a robust start to the season’s sales, with many more days of festive season sales lined up in October 2024 to mark Navratri, Dussehra, Karva Chauth, Diwali, Bhaiya Dooj and other festivities.
