The festive season is synonymous with a shopping spree, and this year, Indian customers are going bigger than ever before. With the festive spirit setting in, shoppers are flocking to online platforms in record numbers, taking advantage of attractive discounts and deals. This shopping frenzy is not limited to consumer durables such as electronics or home appliances, but fashion, footwear, and beauty products are also flying off the shelf in rapid demand.
Take Myntra’s Big Fashion Festival (BFF) sale for example where consumers snapped up around 700 t-shirts, 420 jeans, and 330 pair of shoes per minute in the opening hour alone.
Is Fashion Shopping The New Trend?
The appetite for fashion has grown significantly it seems, with more customers buying apparel, footwear, and beauty products. According to an analysis by Myntra, an Indian fashion e-commerce company, footwear has shown a massive uptick with categories like sports shoes gaining more traction, witnessing a 50 per cent rise in demand compared to last year.
Moreover, the demand for wearable devices and home decor items witnessed a 100 per cent rise compared to last year, the data shows.
Meesho, another Indian e-commerce company, reported the sale of around 506 kurtis, 376 sarees, and 360 kids' wear items per minute. The platform kicked off its annual ‘Meesho Mega Blockbuster Sale’ on September 27, reporting a 100 per cent surge in Day 1 orders as compared to last year. It also surpassed daily orders by more than 3 times. ‘Meesho Mall’ (an online shopping space) was riding high with about 2.5 times growth in orders compared to last year. Around 45 per cent of these orders came from customers shopping in the Mall for the first time.
Gen Z Lead The Charge!
The younger generation is also contributing a significant part in the growing online festive shopping spree. Myntra’s Gen-Z fashion platform, FWD, saw demand surge by 2.6 times over business-as-usual (BAU), with both metro and non-metro customers engaging with the platform.
Gen-Z is significantly contributing to the rise in online transactions when it comes to shopping whether it’s activewear, beauty products, or fast fashion.
Loyalty Programs and Co-branded Cards Fuel The Surge
A key factor driving the ongoing shopping spree is the role of loyalty programs and co-branded credit cards. Shoppers are actively seeking ways to maximise their savings, with more than five times the usual number of loyalty members engaging in early access deals.
Loyalty programs offer customers early access to discounts and additional perks, making it an attractive option for avid shoppers. Additionally, co-branded credit cards are proving to be a game-changer in unlocking additional savings for shoppers. Transactions using such cards have seen an 8X growth, demonstrating that customers are increasingly mindful of extracting maximum value from their purchases.
According to a report by Business Standard, Flipkart, an e-commerce company, recorded around 33 crore user visits during Early Access and Day 1 combined during its ‘The Big Billion Days’ (TBBD) 2024 online sales. The BBD started on September 27, wherein early access began on September 26 for Flipkart VIP and Plus customers.
Smaller Cities Join The Bandwagon!
The growth, however, is not limited to fashion-forward urban centres - Tier 1 and Tier 2 cities are also playing a significant role in driving this surge. Around 45 per cent of orders are now coming from smaller cities, the Myntra report states, signaling the growing penetration of online shopping into India’s hinterlands. This trend suggests that even in non-metro areas, the consumers are keen to participate in the festive shopping when met with the convenience of internet and doorstep delivery.
“Some of the early trends indicate an increase in demand for categories that enable a lifestyle upgrade, and Tier-II+ cities have been showing growth in the run-up to this year’s festive season,” Harsh Chaudhary, vice-president - growth, Flipkart told Business Standard.
Demand For Electronics Continues
Amazon’s ‘Great Indian Festival’ (AGIF) showed continued demand for free installation services on TVs, furniture, and appliances from over 500 cities. The demand for ‘exchange discounts’ on old smartphones was also 25 per cent higher compared to last year across over 400 cities. Moreover, premium smartphones (ranging above Rs 30,000) saw the highest year-on-year growth this season among all price segments. Additionally, luxury beauty products were also in demand with a growth of 80 per cent compared to the last AGIF.
How’s The Josh?
The festive shopping frenzy shows no sign of slowing down, topped up with the convenience of online e-commerce and doorstep deliveries. Shoppers seem to be making the most of deals across all categories ranging from fashion, beauty, and lifestyle. Whether it is Tier 1 urban dwellers or customers from smaller towns (Tier 2-3 cities), the spirit of the festive season has gripped everyone.
As retailers continue to attract consumers with new offers, the number may climb even higher. However, consumers must stick to healthy spending habits. Tap here to know how you can do that.
