As per analysts, there was a huge demand for smartphones and consumer durables like double-door refrigerators and smart TVs, with over half the buyers, especially those from smaller towns and cities opting for EMI-based payment methods on major platforms like Amazon and Flipkart.
Amazon and Flipkart, two of the largest e-commerce giants which dominate the Indian market, recorded combined sales of over Rs 54,500 crore in the first week of their ongoing festive season sale, a massive a 26% year-on-year increase, according to a media report. The surge in sales from September 26 to October 2 was largely driven by consumer electronics, nearly 60%, especially mobile phones, which formed 38% of the total sales, followed by electronics and consumer durables (21%), as per a report by Datum Intelligence.
According to experts, iPhone 15 and previous generations of the Apple flagship, dominated sales due to massive discounted on older models after the launch of iPhone 16. Additionally, Samsung’s Galaxy S23 FE was also among top sellers on Flipkart, they said.
Higher and mid-level smartphones, especially those above Rs 30,000 were also in demand due price cuts and discounts, they added.
Smart TVs, smartphones in demand
As per analysts, there was also a huge demand for consumer durables like double-door refrigerators and smart TVs, with over half the buyers, especially those from smaller towns and cities opting for EMI-based payment methods.
Amazon sales go through the roof
Around 70% of customers who purchased premium smartphones, belong to tier-2 and tier -3 cities, Amazon said, adding that almost 80% of its smart TV orders also came from the same segment.
“Amazon Great Indian Festival 2024 kicked off with record- breaking figures in the first 48 hours. According to Amazon, the event saw
nearly 11 crore customer visits, marking its best-ever start. A remarkable 80% of these visits came from Tier 2 cities and smaller towns, highlighting the growing demand from non-metropolitan areas,” the platform said in a statement.
It also stated that they also witnessed a surge in the number of customers who bought a Prime Membership with Prime customers making 8 times the purchases in the first 24 hours of the sale compared to a regular day. Amazon said that more than 8,000 sellers crossed Rs 1 lakh in sales during the first week.
According to Amazon, their smartphone sales witnessed a robust uptick, with more than 75% of total sales coming from Tier 2 and Tier 3 towns.
Sales expected to grow in festive season
Analysts have predicted that sales will likely continue to rise throughout the festive season leading up to Diwali by almost 23% compared to last year. Online platforms are expected to make a whopping Rs 100,000 crore in sales during the season against previous year’s Rs 81,000 crore.