A glimpse at how the Indian eCommerce marketplaces fared during the Diwali Mega Sale event in 2022- the biggest eCommerce festival in India. By Mahima Bhatnagar, Senior Growth Manager at PiWheel.
Ever since the sturdy foothold of the eCommerce industry in India, the etailers give their customers a big chance to celebrate mega sale events with whopping discounts, deals, and offers throughout the year. The biggest of them is the Diwali event that begins 1 month before the main festival. It mimics the tradition of buying new items for personal use, home décor as well as gifting.
After two years of combating the Covid-19 Pandemic, encountering numerous restrictions, and staying indoors, India again celebrated its festivals with the same enthusiasm and optimistic spirit! The upswing of consumer sentiment is a notable drive for India’s economy which is bouncing back to pre-pandemic levels. Diwali 2022 mega event is the catalysing factor in India’s Growth Story.
Amazon in a statement said, “customers will get to experience more than 2000 new product launches and exciting offers across categories including Grocery, Fashion & Beauty, Smartphones, Large appliances & TVs, Consumer Electronics, and more from brands like Samsung, iQOO, LG, Xiaomi, Redmi, Tecno, BoAt, Biba, PUMA, Fastrack, Prestige, L’Oreal, Colgate, Aashirvaad and many more”.
This year, Amazon worked with over 150 influencers to generate 600 live streams to enable customers to make an informed purchase decision. The live streams carried live discounts during the sale which lasted until 1 week before Diwali.
PiWheel used its proprietary competitor and market intelligence tool to analyze the Diwali 2022 event for India- one of the fastest-growing eCommerce regions in the world- and found some very interesting data points that will be extremely helpful for eCommerce brands.
Diwali 2022- PiWheel Analysis: –
What we have covered:
– Shakers of the event 2022: biggest gainers in sales rank
– The promotions supported sales revenue and conversions of the shakers
– Top-selling products in the top-selling categories
– Some popular categories of deep-dive
– Emerging categories in the marketplace
– Key takeaways
Shakers of Diwali 2022 eCommerce Sale on Marketplaces
Like every year, the festive discounts were driven by the sales of consumer electronics. However, the overall sales of consumer electronics were lower this year in comparison to the 2021 sale period. One of the major reasons can be the COVID situation which is under control in most of the regions. People went out to purchase for the Diwali event as the offline stores offered some cost-effective options and discounts.
Other categories which were among the top gainers in eCommerce during the event were fashion, beauty, and baby products.
Flipkart announced an almost 80% discount on cell phones and headphones, and 43% on big-screen televisions. other electronics. For instance, the two new Google phones – Google Pixel 7 and Google Pixel 7 Pro were offered at special discounts.