Cash-on-delivery (COD) retained its dominance as the preferred payment method, with its GMV share climbing to 65 per cent during the Black Friday sale period
Ecommerce platforms in India witnessed a significant surge in sales during the Black Friday weekend, with gross merchandise value (GMV) increasing by 24 per cent compared to the previous weekend, according to a survey by GoKwik. This dramatic uptick underscores the growing popularity of Black Friday as a shopping event in India, with Tier 1 cities like Mumbai, Bengaluru, Delhi, Chennai, and Pune driving the trend. Collectively, these cities recorded a 60 per cent rise in GMV, reflecting their alignment with global shopping phenomena.
Beauty and Personal Care Dominate
The beauty and personal care category emerged as the top performer, recording a twofold increase in GMV during the Black Friday weekend. The sector also led in average order value (AOV), which grew by 26 per cent, contributing to an overall 8 per cent increase in AOV across categories. High discounts in this segment were a major driver of sales.
Other key categories that showed strong growth included footwear, with a 53 per cent increase in GMV, and fashion and electronics, both registering a 23 per cent rise.
Changing Payment Preferences
Cash-on-delivery (COD) retained its dominance as the preferred payment method, with its GMV share climbing to 65 per cent during the Black Friday sale period, up from 46 per cent during the Diwali sale. UPI transactions held steady as the second most popular payment method, accounting for 28.13 per cent of sales. Credit-based payment methods saw a marginal decline of 2.5 per cent.
Chirag Taneja, Co-founder and CEO of GoKwik, attributed the event’s success to the strategic understanding of shopper preferences. “Black Friday this year has become a significant event for ecommerce brands in India, catching up in scale and enthusiasm to its US counterpart,” he said.
Year-on-Year Growth Highlights
Unicommerce, a leading ecommerce enablement SaaS platform, reported a 17 per cent year-on-year (YoY) increase in order volumes during this year’s Black Friday sale (27th-30th November 2024). GMV for the same period grew by 24 per cent, with beauty, wellness, and personal care products seeing a remarkable 34 per cent rise in sales compared to 2023.
Other categories such as home decor, health and pharma, and fashion also saw double-digit YoY growth, with home decor recording a 40 per cent increase in order volumes. Wearables witnessed the highest growth in AOV, surging by over 200 per cent, followed by laptops, fashion, and furniture items, which saw AOV gains of over 25 per cent.
Ecommerce Momentum Builds
The success of Black Friday sales underscores the evolution of India’s ecommerce landscape, with both brand websites and marketplaces experiencing significant growth. Kapil Makhija, MD & CEO of Unicommerce, commented, “Every year, Black Friday sales act as a good closure to the year’s e-commerce sale events. As we continue to see rising consumer demand, these insights provide a broad picture of the evolving e-commerce industry in India.”
With 930 million annual transactions and a client base spanning India, the Middle East, and Southeast Asia, Unicommerce analysed over 10 million orders processed during the sale period to derive these insights.
As Indian consumers increasingly embrace global shopping traditions, events like Black Friday are becoming pivotal in the country’s annual retail calendar. This year’s performance signals not just the success of promotional strategies but also the readiness of Indian consumers to explore and adopt new shopping behaviors.
