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The recent festive sales period from September 26th to 28th has shown a significant surge in consumer spending across India.
- Early estimates suggest that sales during this period crossed ₹26,500 crore, accounting for nearly 26% of the total sales expected throughout the festive season.
- Smartphone purchases played a crucial role in driving these numbers, with an estimated 3.5 to 4 million units sold.
- Offers such as no-cost EMIs and exchange deals were particularly appealing to buyers.
- The strong demand for mobile devices, electronics, and consumer durables, along with home and general merchandise, contributed to 79% of the total sales.
- Notably, categories like fashion, grocery, and beauty & personal care experienced a boost during this period, with sales increasing by 2 to 4 times compared to regular days.
- Other high-interest categories included smart televisions, mattresses, water purifiers, laptops, air conditioners, water heaters, washing machines, ghee, and dry fruits.
- Additionally, a notable trend is that around 60% of festive shoppers are expected to spend more than ₹15,000 throughout this festive season, indicating a positive consumer sentiment and willingness to spend.
- Offers and easy EMI options appear to be the driving forces for consumers making purchases during this time.
We estimate that the first week of sales may account for about 60% of the total sales during the festive month.
As the season progresses, retailers and e-commerce platforms will continue to focus on providing attractive deals and convenient payment options to make the most of this increased demand.
