Data insights from Shiprocket, the 106th unicorn in India and a top platform for enabling eCommerce, indicate that the festive eCommerce market in India is expected to exceed $12 billion in the crucial months of October through December of 2024.
Comparing this to $9.7 billion in 2023, there has been a significant 23% rise. In addition to a boom in rapid commerce, which is predicted to generate $1 billion in GMV in and of itself, the growth is mostly being driven by consumer demand in sectors such as fashion, electronics, cosmetics, and personal care.
Consumer-specific patterns: AI-driven suggestions influence 84% of customer purchases. Digital penetration in Tier-2 and Tier-3 cities is still growing, which is driving India’s festive eCommerce boom.
It is anticipated that non-metropolitan areas will account for about 60% of online festive orders, driven by increased internet accessibility, disposable incomes, and higher digital literacy outside of Tier-1 cities.
With 84% of customers making fashion and cosmetics purchases based on promotions or influencer recommendations, AI-driven recommendations and social media influencers continue to impact consumer behaviour.
Research shows that 55% of holiday orders are from first-time buyers. However, weekend shoppers account for 27% of festival sales, Sunday 13%, and Saturday 14%.
About Shiprocket
Shiprocket offers an extensive range of technology solutions, including tracking, worldwide rapid delivery, and domestic eCommerce shipping.
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