The festive season has begun on a high note for all e-commerce companies and retailers, including Flipkart, Amazon, Myntra, and Meesho. Datum Intelligence, a consumer technology-focused market research firm, gathered sales data for three days starting on September 26, the first day of this year's flagship sale. Customers opt to make their major purchases over the festive season, whether they are done online or offline, in the hopes of receiving the biggest discounts.
The yearly celebration begins a few weeks before Diwali, around the end of September. For businesses, it is a crucial time since these few weeks account for the majority of their annual gross gross margin.
Furthermore, the first-week accounts for 60% of the GMV of the entire festive season sale. This year's festive season sales are predicted to bring in a GMV of Rs 1,00,00 crore for e-commerce companies and merchants.
Once again this year, premiumization has been a recurring topic. Flipkart stated, "A few of the early trends point to an increase in demand for categories that enable a lifestyle upgrade."
Even Meesho, an online retailer that specializes in low-cost goods, reported that orders for Mall, its unit for a little more upscale selection of goods, increased by 2.5 times over the previous year. Nearly 45% of those purchases were made by customers who were making their first buy.
Overall, the company reported that it exceeded daily orders by more than three times and saw a 100% increase in Day 1 orders over the previous year. Even this year, fashion continues to be a popular category.
According to Myntra, in the first hour of the event with more legs to go, it saw a nearly two-fold increase in OPM (orders per minute) at peak compared to the previous year and 15X more new users than BAU joining the platform.
Neha Wali, Head of Revenue at Myntra, stated, "We have been witnessing an amazing response across the core fashion and emerging categories right from the pre-buzz period and that momentum sustains."
For the majority of platforms, Tier 2 and beyond regions like Medinipur, Hisar, Berhampore, Bankura, Agartala, and more contributed 40–45 percent of all sales this year, while metro cities constituted the key marketplaces, accounting for 55–60 percent of overall sales.
According to Datum Intelligence, of that, Rs 26,500 crore arrived in the first three days alone. That was fuelled by durables and cell phones.79 percent of sales during this time were made up of mobile devices, electronics, consumer durables, home goods, and general products, according to the market research firm's analysis.
Large e-commerce companies such as Flipkart reported seeing 33 crore, or 330 million, customer visits during this year's first sale days. Early indications point to a joyous festive season to come.
Customers have shown the most desire for products in areas like mobile phones, electronics, big appliances, fashion, beauty, and home goods, according to a press release from Flipkart on September 28.
