Business · Economy · 7 hrs ago
Premium goods drive strong start to India’s festive online sales
India’s festive online shopping season has started strongly, with companies reporting sales growth of up to 40% in the first three days compared with last year.
Demand was especially strong for premium goods, including larger televisions, higher-priced smartphones and bigger packs of packaged food.
Sales picked up around the start of Navratri, a major festival period, and also grew on quick-commerce platforms that deliver goods rapidly.
This comes as many products have become more expensive: smartphone prices are estimated to have risen 35% to 40% this year, while laptops and televisions have become up to 25% costlier.
Overall mobile phone volumes fell 12%, but premium smartphones priced above ₹45,000 were the only segment to grow.
Companies said some mass-market buyers were more cautious amid global uncertainty and weakness in stock markets.
The early sales figures show that premium demand is helping businesses offset pressure in more price-sensitive parts of the market.
India’s festive online sales rose by up to 40% in the first three days compared with the same period last year, executives reported.
Higher demand for premium goods helped drive growth across categories including electronics, packaged food and appliances.
Sales also grew on quick-commerce platforms, with demand extending to small electronics and household goods.
Executives said mass-market buyers appeared more cautious amid price rises and economic uncertainty.
- Who
- Indian online retailers and companies reported sales growth, with consumers driving demand.
- What
- Festive online sales rose by up to 40% in the first three days compared with last year, led by premium goods.
- When
- During the first three days of the festive sales period; sales gathered pace from Sunday midnight.
- Where
- India, including north and south India.
- Why
- Executives attributed growth to demand for higher-value products and the start of Navratri.
This story does not have two clearly opposing sides.
The onset of Navratri acted as a catalyst in the already robust start to the sales
Differentiated and healthier products are in demand, as are the transactions on quick-commerce platforms
While 32-inch TVs have degrown this year, there is 20% plus growth in large screens of 55 and 65 inches
Premium phones are the only segment to grow, which will lead to value growth in overall smartphones
Super Plastronics reported 10% year-on-year growth in sales.
Sales gathered pace in north and south India as Navratri began and the Shradh period ended.
Haier reported sales growth of more than 30% year on year, while Wonderchef said sales were about 20% higher than last year.
- Overall festive sales
- Up to 40% growth in the first three days compared with last year
- Parle Products packaged food
- Sales rose 45-50%
- Quick-commerce average bill values
- Rose 15-20% in urban areas
- Premium smartphones
- Prices above ₹45,000; sales bucked a 12% decline in overall mobile phone volumes
- Super Plastronics
- Sales grew 10% in the first two days and 20% from Sunday midnight
Sources
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