Small and medium-sized businesses registered on Amazon reported a 35% increase in sales during Diwali
According to the Financial Express (FE), the Diwali season, from October 29th to November 11th, saw a 49% increase in online sales and a 35% increase in traffic. In addition, conversion rates increased by 22%, according to research by a global commerce media business Criteo. The conversion rate is the proportion of customers who check out a product to those who buy it.
Diwali sales in 2022 increased by 17% as compared to 2021. According to the Co-Founder and Director of Excellent Publicity, Ms. Vaishali Dalal, "During Diwali, brands created remarkable advertising campaigns, ensuring sustained excitement throughout the festival period."
Almost one-third of shoppers who purchased things started their search with internet ads. According to the research, another 31% purchased from brand websites and apps, while 28% visited physical stores to explore the products.
According to a CNBC article, shopping habits during the holiday season revealed a prolonged K-shaped rebound in the economy, with items tied to mass consumption struggling while premium products saw a jump in sales. Amazon recorded more than 1.1 billion consumer visits during its Great Indian Festival, with around 80% of traffic coming from Tier 2 and 3 locations, according to CNBC.
Small and medium-sized businesses registered on Amazon reported a 35% increase in sales year on year, with skincare, traditional clothing, jewellery, quality smartwatches, and luxury beauty goods sold in high demand.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.