Indian E-commerce platforms have achieved a record number of sales amounting to ₹1 Lakh Crore during the recent festive season, which lasted for about a month.
Sources report that the sales figures have been steadily rising over the years, with 2022 hitting ₹69,000 Cr. while 2023 went up to ₹81,000 Cr.
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This year’s surge was fueled by a massive demand from consumers in non-metro cities, with smartphones and luxury brands taking the top spot, demonstrating India’s increasing demand for such items.
More than half of the demands poured in during the 1st week of Flipkart’s ‘Big Billion Days’ and Amazon’s ‘Great Indian Festival’ sales, with reportedly ₹55,000 Cr. worth of items being sold.
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The demands decreased in the subsequent weeks, before bouncing back on Diwali.
Both Amazon and Flipkart sellers recorded massive sales this festive season, with Amazon acknowledging that almost 85% of the total purchases were made from non-metro cities.
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Smartphones took the top spot in the sales, accounting for nearly 65% of the total figures. Premium Android models featuring AI capabilities were sold the most.
Luxury brands took the next spot, experiencing a substantial increase in demand.
High-end appliances, fashion, and beauty products saw massive increments in sales, with Amazon reporting a surge of 30% and 400% respectively in premium appliance demand and luxury fashion category.
This year-on-year growth in sales is a robust indicator of India’s growing passion for premium brands.
