The festive period witnessed a 12% year-on-year increase with a Gross Merchandise Value (GMV) of approximately $14 billion, driven by rapid growth in Tier 2+ cities and an increase in shopper spending. Explore the key insights and growth drivers that shaped India’s festive e-commerce season in 2024.
Key Insights from the 2024 Festive Season:
- Tier 2+ Cities Leading Growth: Smaller cities saw the highest growth, with spending up by 13%, signalling a new wave of e-commerce engagement and premiumization in these regions.
- Increased Shopper Spend: Although new shopper acquisition slowed, spending per user rose by 5-6%, with premium products like electronics and appliances seeing greater demand.
- Fashion Takes Centre Stage: A threefold rise in fashion sales, driven by ethnic wear and accessories, highlights a renewed interest in traditional apparel and jewellery in Tier 2+ cities.
What’s Inside the Report:
- A breakdown of GMV growth across categories, including fashion, quick commerce, electronics, and beauty.
- Key growth trends and insights on consumer behaviour in metro, Tier 1, and Tier 2+ cities.
- Strategies for brands and e-commerce platforms to capitalize on these emerging trends and drive meaningful growth.
Download our comprehensive report for an in-depth analysis of how evolving consumer behaviours and rising trends across fashion, electronics, and quick commerce are reshaping the landscape. Discover how India’s e-commerce landscape is evolving and why Tier 2+ cities are becoming the new growth hubs. Download the report for actionable insights to navigate this dynamic market.
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