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 e-commerce festive season sales are off to a strong start. E-Commerce order volumes grew by 20% during the first four days of the festive season sale in 2024 (26th-29th Sept 2024) when compared to the first four days of the festive season sales last year (7th – 10th Oct 2023). In the same period, the gross merchandise value (GMV) also increased by 24% over last year.
Unicommerce, one of India’s leading e-commerce enablement SaaS platforms, analyzed over 1.3 mn order items processed through its platform during the initial days of the sale for both the years, to assess the trends for this year.
Some of the product categories that observed notable increase in volumes include fashion & accessories with over 32% growth with high demand for products like travel accessories, watches and kids apparel. Makeup products witnessed an impressive 54% YoY growth during this festive sale. The health & pharma segment, which clocked a sizable 33% growth in volumes over last year, saw nutraceuticals and fitness supplements as most demanded products in the category.
Despite only a marginal increase in the volumes, the home decor category reported an impressive 50%+ increase in GMV over last year. This shows a significant growth in consumer appetite for higher value purchases across the home decor & furnishings segment.
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.
