Fashion & Premium Electronics Fuel Festive Shopping Boom

India’s festive season saw a major shopping boom from September 26 to October 6, 2024, driven by strong demand for fashion and premium electronics.

Fashion

1) Ethnic wear, especially kurtas and kurtis, saw a massive increase in sales. Boosted by the wedding season.

2) Unbranded and valued segments in women’s and kids’ fashion have grown. Particularly in Tier II and beyond markets.

Premium Electronics

I. High-end appliances like air conditioners, refrigerators, and robotic vacuum cleaners are in high demand due to prolonged summer conditions.

II. While the mobile market saw muted growth, premium brands like Apple thrived, with many consumers shifting from Android to iOS.

E-Commerce’s Role

• Platforms like Flipkart and Amazon saw record participation in their festive events.

• Quick commerce platforms have reshaped consumer behavior, with many opting for fast delivery of beauty products and electronics.

Sales Growth

• Festive sales during this period recorded 19% year-on-year growth over 2023.
• Total sales are expected to surpass ₹1 lakh crore by November 3.

The rise of affordable fashion is driven by several factors, particularly in Tier II and III cities.

Factors

1. Tier II & III Cities: Growing interest in stylish yet budget-friendly options drives sales of unbranded fashion.
2. Festive Boost: Ethnic wear demand spikes during festive and wedding seasons.
3. E-commerce and Fast Fashion: Wider access to affordable trends via online platforms and quick delivery.

In summary, the festive season has fueled a significant shopping boom in fashion and premium electronics. Consumers are gravitating towards value and convenience, shaping the market’s direction.

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