Vogue and premium electronics drive 2024 E-commerce festive sale increase: Redseer

Redseer Technique Consultants has launched key insights from the primary leg of the 2024 e-commerce festive sale season, which ran from September 26 to October 6, 2024 (masking occasions equivalent to Massive Billion Days, Nice Indian Competition, and Meesho Mega Blockbuster sale).

The findings point out wholesome progress throughout key classes, pushed by sturdy demand for vogue and premium electronics. The 11-day occasion strategically spanned two weekends and included the nationwide vacation of October 2, 2024, gaining extra momentum from the Navratri festivities that started on October 3, 2024.

With elevated participation from e-commerce platforms, D2C manufacturers, and quick-commerce gamers, shopper spending noticed a outstanding surge.

Key Findings from Redseer’s E-commerce Festive Sale Evaluation:

1. Vogue Leads the Cost

1. Vogue emerged because the top-performing class, propelled by excessive demand for ethnic put on, notably males’s and ladies’s kurta and kurti units, additional fueled by the marriage season

2. Unbranded/worth section in  girls’s attire, daily-wear jewelry, and youngsters’ vogue additionally noticed important progress, with a notable increase from Tier 2+ markets. 

3. Whereas winter put on confirmed slower progress because of extended summer season circumstances, demand is predicted to extend later in October because the climate cools. Platforms are making ready for a robust surge in outerwear and winter attire within the coming weeks.

2. Premium Electronics in Excessive Demand

1. Seasonal modifications throughout India and elevated spending on premium fashions have pushed progress, particularly in metro areas.

2. ACs, fridges, and premium electronics are the primary drivers of the section.

3. Prolonged summers and rising humidity ranges have boosted demand for ACs and fridges, notably in under-penetrated areas.

4. Premium electronics like robotic vacuum cleaners and water purifiers have seen progress, notably in Metro and Tier 1 cities as customers improve to life-comfort merchandise.

5. Premium TVs have carried out properly, however general progress within the tv section has been slower.

3. Altering Panorama of Cell Cellphone Gross sales

1. The broader cell phone market skilled muted progress, however premium manufacturers equivalent to Apple continued to thrive. There was a noticeable shift of Android customers to iOS, marking an attention-grabbing shopper development. 

2. Fast commerce platforms noticed an surprising spike in cell phone purchases, additional emphasising the evolving position of those platforms.

4. Surge in Magnificence, Private Care, and Dwelling class Gross sales

1. The Magnificence, Grooming, and Dwelling class noticed a rise within the availability of low common promoting worth (ASP) objects and new picks throughout numerous platforms.

2. The Magnificence and Private Care (BPC) section, already experiencing excessive progress this 12 months, continued its spree, with fast commerce gamers contributing by providing BPC merchandise.

3. Dwelling furnishings and décor noticed rising gross sales, pushed by new product picks and rising shopper curiosity in upgrading their dwelling areas.

Commenting on the findings, Kushal Bhatnagar, sssociate companion at Redseer Technique Consultants, mentioned, “E-commerce Festive gross sales in 2024 have proven dynamic progress patterns, constructing on the momentum from final 12 months. In 2023, the 9 day festive occasion noticed roughly 19% Y-O-Y progress over 2022. This was primarily pushed by excessive common promoting worth (ASP) purchases equivalent to mobiles, electronics, and huge home equipment, contributing to about 67% of the gross sales.

Nevertheless, the 2024 festive season has been totally different. Whereas the early part adopted an analogous development with excessive ASP merchandise main the cost, the latter half skilled sturdy demand for decrease ASP objects, notably in vogue, which noticed large progress pushed by ethnic put on and Tier 2+ markets. Other than vogue, premium electronics and smaller classes equivalent to magnificence and residential noticed an uptick.

The northern area has proven comparatively increased progress in comparison with the south, with pockets within the east additionally experiencing sturdy good points. Moreover, EMI choices have been extra broadly utilised this 12 months, and quicker supply occasions have lowered cancellations throughout platforms. A notable new development in 2024 is the rise of cellular purchases via fast commerce platforms, additional indicating the evolving nature of shopper preferences throughout the festive season.”