As the vibrant lights of Diwali illuminated homes across India, the e-commerce landscape witnessed a dazzling spectacle of its own – the Diwali Sale 2023.
In the spirit of the festive season, Indian e-commerce marketplaces orchestrated a grand symphony of discounts, deals, and digital festivities. With millions of shoppers navigating the virtual aisles, the Diwali sale became a pivotal moment for both consumers and retailers alike.
On Amazon Great Indian Festival 2023, which went live on October 8, 2023, a record 9.5 crore customer visits to the website were witnessed in the first 48 hours. Nearly 80 percent of the customers came from non-metro cities. The festival this year had the highest number of customers and the highest number of orders “– Suchit Subhas, Director–Amazon India, said in a recent interview.
This article delves into the dynamic and exhilarating world of the Diwali Sale 2023, unraveling the trends, successes, and nuances that defined this year’s festive shopping extravaganza on the Indian e-commerce platform.
Diwali 2023: Piwheel Insights. Points covered-
In the Diwali sale of 2023, the spotlight shone on consumer electronics as the dominant force, claiming all the “Top 10 Category” positions in terms of retail sales value.
Notably, none of these categories experienced any decline in retail sales value compared to the prior year or prior period.
Are you curious to know which products attained the highest sales value during the Diwali sale of 2023?
These are the top 4 products (in terms of highest retail sales value) of the top 5 categories from the sale!
The performance of categories on e-commerce marketplaces is influenced by a myriad of factors, spanning from product marketing to customer satisfaction.
Let’s examine key metrics of the highest-selling categories, in comparison to the prior period, which undoubtedly exerted a significant and direct impact on their overall performance.
As expected, the Diwali Sale 2023, on e-commerce marketplaces, showcased a clear dominance of consumer electronics in the list of top-growing categories, measured by the percentage increase in retail sales value compared to the prior period.
7 out of the 10 top growing categories were attributed to the consumer electronics section.
Spirits, Snack foods, and Video games were some of the other categories that managed to get a growth sprout during this festive season on Amazon.
In the realm of festive sales, the Diwali Sale 2023, on e-commerce marketplaces, unfolded without any unexpected twists for categories facing challenges in online performance.
The performance of certain segments, often less favored during celebratory seasons, remained consistent with past trends.
Within the dynamic realm of marketplaces, the significance of brand names cannot be overstated, exerting a considerable influence on product performance in saturated markets. The Diwali Sale 2023, on e-commerce marketplaces, reminded us of the critical role of brand recognition in shaping consumer preferences and purchase decisions. Amidst a myriad of options, consumers frequently gravitate toward familiar brand names, attributing them with reliability and product satisfaction.
While certain well-established brands dominated the retail sales chart during the Diwali sale, it’s noteworthy that some popular brands experienced a decline in sales, demonstrating that even well-established entities must adeptly navigate challenges to sustain their sales momentum in a fiercely competitive marketplace.
Amazon Great Indian Festival 2023 was a trend setter in a lot of ways with an array of categories witnessing highly noticeable growth in retail sales and customers making use of other favorable options such as no- cost EMI and Amazon Pay Later. Let’s look at some of the key insights from GIF 2023 that cannot be missed!
The curtains have closed on the 2023 Diwali sale, but that doesn’t signal the end of the event’s impact. Let’s delve into some quick insights to leverage the lessons learned from this mega event for your eCommerce business in the future:
Data Source: PiWheel’s market intelligence tool
Prior period: Sep 3, 2023 – Oct 7, 2023 Period year: Oct 9, 2022 – Nov 12, 2022
Citation: Amazon News Letter