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Godrej Family Members Buy 1% Stake In GCPL For Rs 900 Cr
Nadir Godrej and three of Adi Godrej’s children acquired 1.02 crore shares in Godrej Consumer Products through block deals from promoter group entities
Four members of the Godrej family have acquired a 0.99 per cent stake in Godrej Consumer Products (GCPL) for Rs 900.24 crore through separate block deals, according to data on the BSE.
The buyers are Nadir Burjor Godrej, younger brother of Adi Godrej, and three of Adi Godrej’s children — Nisaba Adi Godrej, Pirojsha Adi Godrej and Tanya Arvind Dubash. Together, they purchased 1,02,30,000 shares of the Mumbai-based FMCG company at an average price of Rs 880 per share.
Shares Acquired Through Block Deals
The shares were acquired from two promoter group entities through separate block transactions. Godrej Industries and Godrej Seeds & Genetics sold an equal number of shares at the same price, according to the BSE data cited in the report.While the transaction changes the holding pattern among individual members and entities within the promoter group, it does not alter the combined shareholding of the promoters and promoter group entities in GCPL.
The transaction comes after the broader realignment of ownership across the Godrej Group following the family settlement agreement announced in 2024. Under that arrangement, Godrej Consumer Products and other listed companies were placed within the Godrej Industries Group, controlled by Adi Godrej, Nadir Godrej and their immediate families.
GCPL Shares Close Lower
Following the transactions, shares of Godrej Consumer Products closed 0.63 per cent lower at Rs 874.50 apiece on the BSE. The acquisition price of Rs 880 per share was therefore slightly above the stock’s closing price on the day.The latest transaction represents a transfer of shares within the promoter group rather than an increase in the aggregate promoter holding in the FMCG company.
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‘Coffee Is A Habit, But Consumers Need Newness’: Third Wave CEO
At the opening of its 250th café, Third Wave CEO Rajat Luthra and Co-founder Anirudh Sharma discuss unit economics, consumer shifts, menu innovation, digital engagement and the road ahead
Third Wave Coffee has spent the past decade building a nationwide café network, but as the brand reaches its 250th café, its leadership says the next phase of growth will be defined as much by the performance of individual stores as by the number of new outlets added.
In an exclusive conversation with BW Retail World following the opening of its 250th café in Lucknow, Rajat Luthra, CEO, and Anirudh Sharma, Co-founder, Third Wave Coffee, spoke about the lessons of scaling the business, the changing Indian coffee consumer, the importance of menu innovation, technology-led engagement and how the company plans to approach its next phase of expansion.
Scaling With A Focus On Unit Economics
For Luthra, the central question around expansion is not simply how quickly Third Wave Coffee can add cafés, but whether each store can operate as a sustainable business.“Every store which we open has to make money,” he said, explaining that unit economics has been a key focus during his roughly three years with the company. The objective, according to Luthra, is to establish healthy store-level economics before continuing to scale the network.
He said around 90 per cent of Third Wave Coffee’s cafés are currently Ebitda positive, with the profitable stores delivering high double-digit Ebitda performance. For the company, this provides an important foundation for further expansion, with organisational profitability expected to follow as the business reaches greater scale.
Luthra also stressed that store productivity cannot be viewed through a single channel. Delivery, takeaway and dine-in all have an important role to play, but each has to be built around the customer experience.
For delivery in particular, the focus is on creating the best possible “home dining experience”, while cafés have to consistently deliver the kind of experience that encourages customers to return.
Coffee As A Habit, Innovation As A Growth Driver
One of the key challenges in the café business, Luthra said, is maintaining consumer interest even when coffee itself becomes a habit.Coffee can drive repeat visits, but customers can eventually experience fatigue with the same food and beverage choices. This makes menu relevance critical to maintaining frequency.
Third Wave Coffee has therefore leaned heavily into limited-time offers, or LTOs. Luthra revealed that the company introduced around 56 innovations last year, with individual LTOs typically remaining on the menu for two to three months.
These innovations are also linked to occasions and seasons. Christmas, Diwali and Valentine’s Day, for instance, can create opportunities for new products that give customers a reason to revisit the menu. Some successful ideas can return the following year in a new form.
For Luthra, the objective is not innovation for its own sake. “Menu relevance is extremely, extremely critical,” he said, adding that the brand needs to remain connected to what is happening across the wider café, food and beverage ecosystem.
That thinking has also led to the creation of Backroom Brews, an initiative designed to help the company understand emerging trends and identify where consumers are moving.
Constant Evolution Has Been The Brand’s Playbook
Sharma approaches the question of growth from a different but complementary perspective: adaptability.His biggest learning from building Third Wave Coffee has been that the company cannot rely on a fixed playbook. The approach that works for one café may not necessarily work for the tenth, and different markets can have very different consumer needs.
“The playbook for one store is very different from the playbook for the 10th store,” Sharma explained.
That has meant staying close to consumers and developing market-specific approaches rather than assuming that a format successful in one location will automatically work elsewhere.
Sharma believes this adaptability has become one of Third Wave Coffee’s strengths. The company has had to evolve not just its menu, but also the way it operates stores, designs outlets and approaches different markets.
He pointed to the brand’s early experience as an example. The first store had a very different menu and even involved making omelettes, but that format was not scalable as the network expanded. The company had to rethink its food proposition while retaining its focus on quality.
For Sharma, this ability to change is fundamental to staying relevant.
From Matcha To Cold Brew
Innovation has consequently become a defining part of Third Wave Coffee’s brand proposition.Sharma said the company typically works on four to five beverage innovations every two months, spanning categories such as matcha, protein-led beverages, cold brews and oat-based drinks.
The aim is to identify what consumers are looking for and introduce products before they become commonplace across the market. Sharma pointed to matcha as an example, noting that Third Wave Coffee began offering it in 2019, before it became more widely available across cafés.
But he stressed that the company does not simply chase every trend.
The broader philosophy is to identify what consumers genuinely want and ensure that the brand has something relevant to offer them. This is also where Backroom Brews fits into the innovation strategy — helping the company understand emerging trends while developing its own interpretation of them.
For Sharma, giving consumers a reason to discover something new each time they visit remains an important part of the café experience.
Technology Is About Frequency, Not Just Convenience
Technology is another area where Luthra sees considerable potential to improve the existing business.Around 75 per cent of Third Wave Coffee’s transactions are now digital, compared with roughly 60 per cent when Luthra joined the company. But the significance of digital goes beyond simply allowing customers to order through an app.
According to Luthra, technology helps the company understand customer behaviour, identify what consumers are looking for and build stronger engagement with repeat customers.
The brand’s digital ecosystem, including order-ahead capabilities and loyalty-led engagement, can therefore be used to encourage frequency and personalise the customer experience.
Customer feedback remains equally important. Luthra said understanding what consumers are saying about the experience is critical to improving the business.
This creates a feedback loop between the physical café, digital channels and product development — helping the company understand not only what customers buy, but also what they want next.
The Consumer Is Different In Every Market
The need for market-specific strategies is particularly relevant as Third Wave Coffee expands beyond the markets where it first established itself.For Sharma, India cannot be treated as one homogeneous café market. Consumer preferences, food habits and coffee culture can vary significantly between states and cities.
That means expansion requires more than replicating an existing store format. The brand needs to understand the local consumer and adapt its proposition accordingly.
The Lucknow launch itself reflects that approach. The opening of two cafés in the city, including the brand’s 250th outlet in Hazratganj, marks Third Wave Coffee’s entry into a market with its own established food culture and an emerging café ecosystem.
But for Sharma, the larger lesson is that every new market requires the company to remain close to consumers and continue learning.
250 Cafés Is A Milestone, Not The Finish Line
The opening of the 250th café in Lucknow marks a significant point in Third Wave Coffee’s 10-year journey, but Luthra and Sharma’s comments suggest that the company is now focused less on the symbolism of the milestone and more on what the underlying business can deliver at scale.The company is targeting around 320 cafés by FY27, while continuing to invest in product development, its roastery and innovation capabilities.
For Luthra, however, the expansion will continue to be guided by the same principle: growth has to be supported by sound unit economics.
For Sharma, the priority is equally clear — the company must continue evolving as consumers evolve.
Together, those two perspectives point to the strategy Third Wave Coffee is taking into its next decade: expand the network, but remain disciplined about store economics; build a stronger digital relationship with customers, but keep the café experience central; and continue adding new products without losing sight of what consumers actually want.
The 250th café, therefore, is less a culmination of the journey than a marker of the next phase — one in which scale, profitability, innovation and consumer relevance will increasingly have to move together.
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Energy-Efficient Cooling Set To Drive India’s Next Appliance Opportunity
Jamshyd N. Godrej says rising cooling demand will create opportunities across efficient appliances, heat pumps, building technologies and energy management
India’s rising cooling requirements are opening up a significant market for energy-efficient appliances and technologies, as higher temperatures, expanding urbanisation and new sources of electricity demand reshape how consumers and businesses use energy. “Cooling is going to be very, very critical,” said Jamshyd N. Godrej, Chairman & Managing Director, Godrej & Boyce, at the IEEMA Annual Convention 2026 in Mumbai.
The opportunity extends beyond the rapid expansion of data centres, with cooling increasingly becoming a broader requirement across homes, commercial buildings and industrial facilities. “It’s not just because of data centres,” Godrej said, pointing to the wider implications of a warming world for cooling demand.
Energy efficiency is simultaneously becoming more visible in consumer purchasing decisions, particularly for products such as home appliances and ceiling fans. Efficiency ratings have moved from being largely a regulatory consideration to becoming part of how products are marketed and differentiated. “For consumers, this has become a very, very important aspect,” Godrej said.
The shift has been supported by efficiency standards and programmes implemented over the years, which have made consumers more familiar with comparing products based on their energy performance. “People only talk of energy efficiency,” Godrej said, referring to the prominence it has gained in advertisements for appliances and fans alongside design and appearance.
Beyond Conventional Cooling
The next phase of the market could extend beyond conventional air-conditioning technologies. Heat pumps, which can transfer heat rather than generate heating or cooling directly, have applications across buildings and other energy-intensive uses but remain relatively underutilised in India. “Heat pumps are something that we have not taken seriously for a long time,” Godrej said.Greater deployment of such technologies could reduce energy requirements even as cooling demand rises, creating opportunities for appliance manufacturers, electrical equipment companies and technology providers. “Heat pumps can be transformative for energy efficiency and energy use,” Godrej said.
Building materials could become another part of the cooling ecosystem as companies look beyond appliances to reduce the amount of heat entering buildings in the first place. Reflective coatings and other technologies that improve the thermal performance of building envelopes can lower the cooling load required indoors. “Reflective coatings have really transformed the way you look at buildings and manage heat within the envelope,” Godrej said.
This could broaden the consumer cooling market from individual appliances towards a combination of efficient equipment, building technologies and energy management solutions. “There are many, many applications where heat pumps can make a big difference,” Godrej said.
Innovation Opens A Wider Consumer Market
The scale of the opportunity also creates room for startups developing new cooling, efficiency and building technologies, particularly as conventional products increasingly incorporate electronics, sensors and smarter energy management. “These startup ideas actually can be transformative for everyone,” Godrej said.For established businesses, the challenge will be identifying technologies developed by younger companies and finding ways to deploy them commercially at scale. “How to embrace the ideas that come out of startups and really take those forward” will become increasingly important, Godrej said.
India’s experience with energy efficiency suggests that higher energy costs can accelerate adoption as households and businesses place greater value on reducing electricity consumption. “Higher energy costs do, it makes you more efficient,” Godrej said.
As cooling becomes a larger component of electricity demand, the retail opportunity is therefore likely to move beyond selling more cooling equipment towards selling products that deliver the same comfort with lower energy consumption. For appliance makers, building technology companies and startups, Godrej’s central proposition is straightforward: “Efficiency and sustainability are at the top of all that.”
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CaratLane Steps Up Global Push With Australia ECommerce Launch
The Tata-backed jewellery brand will offer its diamond and gold collections to customers across Australia through a dedicated ecommerce platform
CaratLane, a Tata product, has launched a dedicated e-commerce website for Australia, marking a fresh step in the jewellery brand’s international expansion strategy.
The Australia-specific platform, http://www.caratlane.com/au, enables customers across the country to browse and purchase CaratLane’s diamond and gold jewellery collections, with products delivered directly to their doorstep.
The launch expands CaratLane’s international digital presence and is aimed at providing Australian customers, including the Indian diaspora, with a more localised shopping experience.
Localised ECommerce Experience
The dedicated Australian website has been designed to simplify the jewellery-buying journey, allowing customers to browse curated collections and complete purchases through a localised platform.CaratLane said the platform is backed by the same craftsmanship, trust and certification standards offered across its international operations. The brand currently ships to more than 30 international destinations and also has physical stores in the US.
Each design shipped through the platform comes with a certificate of authenticity and insured shipping, alongside the assurance associated with the Tata heritage.
Australia As A Key International Market
Commenting on the launch, Saumen Bhaumik, Managing Director, CaratLane, said Indian consumers in Australia have shown strong interest in the brand’s designs, making the launch a natural progression for its international business.“By introducing a localised platform, we’re removing cross-border friction to deliver a seamless shopping experience directly to their doorsteps, marking a major milestone in our global growth story,” Bhaumik said.
He added that the expansion forms part of CaratLane’s broader vision to become a leading jewellery brand among Indian women, with Australia playing an important role in that journey.
Expanding Beyond Existing Markets
The Australia launch builds on CaratLane’s presence across international markets including the US, UK, Canada and Singapore.The company said the expansion reflects its focus on connecting customers globally, including members of the Indian diaspora in Australia, with jewellery collections designed to mark personal milestones and celebrate heritage.
With the dedicated Australian platform, CaratLane is now looking to combine its established jewellery proposition with a more localised digital experience as it continues to expand its international footprint.
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Edible Oil Duties Cut As Festive Demand Nears
Duty cuts aim to lower import costs and support festive-season supply
The Central Government has reduced customs duties on specified edible-oil imports, a move that comes ahead of the festive season when demand for cooking oils typically rises across households as well as the sweets, snacks, food-service and HORECA segments.
The changes have been notified by the Ministry of Finance’s Department of Revenue through Notification No. 31/2026-Customs dated September 23, 2026. Issued under the Customs Act, 1962 and the Customs Tariff Act, 1975, the notification amends the earlier Notification No. 45/2025-Customs dated October 24, 2025.
The revised duty structure comes into force from September 24, 2026.
Under the notification, the duty rate against Serial Numbers 41 and 46 has been reduced from 10 per cent to 5 per cent. For Serial Numbers 42 and 47, the rate has been cut from 32.5 per cent to 27.5 per cent. The duty against Serial Number 49 has been reduced from 10 per cent to nil, while the rate for Serial Number 50 has been lowered from 32.5 per cent to 22.5 per cent.
Industry Sees Scope For Lower Landed Costs
Commenting on the decision, Sudhakar Desai, President, Indian Vegetable Oil Producers’ Association (IVPA), said the reduction in customs duties comes at an important juncture, particularly with the festive season approaching.According to Desai, lower import duties should improve the landed cost of imported edible oils, potentially providing some relief to consumer prices.
For the edible-oil industry, the immediate priority is to ensure adequate availability across the country during the upcoming festival months, when demand is expected to increase not only from households but also from sweet makers, snack manufacturers, food-service operators and the HORECA segment.
Sunflower Oil Gains Greater Import Flexibility
The revised duty structure could also influence consumption patterns within the edible-oil market.Desai said the reduction in duty on sunflower oil has been steeper, which could make the oil more affordable, particularly in South India, a major consuming region.
India remains dependent on imports for a substantial portion of its edible-oil requirement. This leaves the domestic market sensitive to international edible-oil prices and global supply conditions.
Greater flexibility to import sunflower and soyabean oil could also shift some demand away from palm oil. According to Desai, palm oil is expected to remain relatively expensive amid the implementation of B50 biofuel mandates and limited acreage expansion.
Zero-Duty Nepal Imports Remain A Concern
The industry has also raised concerns over competitive pressures from zero-duty imports from Nepal.Desai said the edible-oil industry, particularly in northern and north-eastern markets, has been facing pressure from imports from Nepal because of the duty arbitrage with Indian duties. He noted that these imports would continue to remain more competitive than domestically refined oils even after the latest changes.
IVPA has been seeking an import quota for zero-duty imports from SAFTA countries as part of its efforts to address the issue.
Consumer Impact To Depend On Global Prices
While the reduction in customs duties could lower the landed cost of imported edible oils, the eventual impact on retail prices will depend on several other factors.These include international commodity prices, freight costs, exchange-rate movements, domestic availability and inventory levels.
For consumers, therefore, the extent and speed of any price benefit from the duty reduction will depend on how these factors evolve alongside seasonal demand.
Industry Focuses On Festive Season Supply
Desai said the industry remains focused on maintaining adequate availability, efficient distribution and stable supplies during the festive season.A combination of timely imports, healthy inventories and supportive policy measures, he said, should help the market respond to seasonal demand while keeping affordability in focus and supporting oilseed farmers.
The government and industry therefore face the challenge of balancing consumer affordability, adequate supplies and the interests of domestic oilseed producers as edible-oil demand rises during the festive period.
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Festive Gifting Economy Gets More Premium, Personal
From artisanal foods and wellness products to beauty, chocolates and personalised hampers, India’s festive gifting economy is becoming more premium, curated and lifestyle-led
India’s festive gifting economy is entering a more premium and personalised phase, as consumers increasingly look beyond conventional gift boxes for products that reflect individual tastes, lifestyles and relationships. While traditional sweets continue to carry cultural and emotional significance, the modern festive basket is expanding across gourmet foods, wellness, beauty, personal care, books, beverages, home décor and lifestyle products.
The shift is being shaped by greater exposure to premium brands, evolving consumer lifestyles, higher expectations around presentation and a growing desire to give something that feels specifically chosen for the recipient. For corporates, meanwhile, gifting is increasingly becoming an extension of brand identity and stakeholder relationships, putting greater emphasis on quality, relevance, personalisation and presentation.
Across categories, one theme stands out: the value of a gift is increasingly being defined not simply by how much it costs, but by how thoughtfully it has been selected, presented and experienced.
From Standardised Gifts To Personal Choices
The changing nature of festive gifting is perhaps best reflected in the growing importance of personalisation.Namrita Malhotra, Founder & MD, Savore Luxe, said festive gifting is evolving from a traditional exchange into “a more thoughtful and curated expression of appreciation”.
“Consumers today are increasingly looking for gifts that feel personal, useful and reflective of the recipient’s lifestyle rather than simply choosing conventional boxes.”
This is creating demand for premium gourmet and wellness-led products that combine quality, craftsmanship and everyday utility.
“From artisanal ghee, cold-pressed oils and handcrafted honey to curated self-care products, consumers are increasingly drawn to ingredients and products that can become part of their daily rituals,” Malhotra said.
At Savore, she said the shift reflects the belief that luxury is found in thoughtful details, quality and intentional choices.
Personalisation is also influencing how hampers are assembled. Rather than offering one standard combination, brands are increasingly bringing together products based on preferences, occasions and lifestyles.
“The packaging, presentation and story behind each product are becoming as important as the product itself,” she said.
Ultimately, Malhotra believes festive gifting is becoming less about the price or size of a hamper and more about the experience it creates.
“Consumers want to gift something that communicates thought, care and relevance. This is driving the rise of premium, artisanal and wellness-focused gifting, where every element is intentionally chosen to make the gesture more meaningful.”
Beauty Adds Aspiration And Accessibility
Beauty is emerging as another important category in the premium gifting landscape, particularly because it can combine aspiration with accessible price points.Anmol Sahai Mathur, Vice President (Marketing), Mars Cosmetics, said festive gifting is evolving from simply exchanging something traditional to choosing something that feels “more personal, useful and memorable”.
“Consumers today are looking for gifts that reflect the recipient’s personality and offer a sense of discovery or self-indulgence.”
In beauty, this is translating into stronger interest in curated gift sets, festive bundles, minis and product combinations rather than standalone products.
“Beauty works particularly well for festive gifting because it combines aspiration with accessibility. You can give someone a premium looking, thoughtfully curated experience without necessarily moving into a very high price point.”
The unboxing experience is becoming increasingly important too.
“The product is no longer the entire gift. The unboxing, presentation and overall experience are becoming part of the value proposition,” Mathur said.
For brands, the opportunity is therefore to create gifting architecture across multiple price points rather than treating festive gifting as a single proposition.
At MARS, that means curated combinations, elevated festive packaging and accessible price points, supported by variety across categories and consumer preferences.
The company also expects festive gifting to become increasingly regional and occasion-led.
“India doesn’t have one homogeneous festive consumer. Gifting preferences, occasions and price sensitivities vary significantly across markets,” Mathur said.
The opportunity, she added, is to build portfolios that work for personal gifts, family celebrations and larger corporate requirements without losing the brand’s core proposition.
Nitin Guppta, Founder of juhst, said, “Skincare gifting should be thoughtful, practical and aligned with what the skin actually needs. Instead of gifting elaborate routines or heavy creams, the focus should be on lightweight moisturisers, a non-negotiable SPF and products that help manage excess oil and congestion.
A good skincare gift does not necessarily have to be extensive. Curating a few everyday essentials that support the skin barrier and fit easily into a routine can make the gift far more relevant and useful. The idea should be to gift smarter, with products that people will genuinely use rather than simply adding more to their shelf.”
Wellness And Utility Enter The Festive Basket
The premiumisation of gifting is also extending into categories that focus on everyday wellbeing and utility.Somya Srivastava, Brand Lead, Pee Safe, said festive gifting is moving “from a one-size-fits-all tradition to something far more thoughtful and personal”.
“Consumers are increasingly looking for gifts that reflect the recipient’s lifestyle, interests and everyday needs, rather than simply exchanging conventional mithai.”
This is driving demand for curated, premium and utility-led hampers that combine products with discovery and personalisation.
“We are also seeing younger consumers embrace gifting as an expression of individuality, making categories such as personal care, wellness and lifestyle increasingly relevant during the festive season.”
The shift is not necessarily about extravagant spending. Instead, premium packaging and curation can create perceived value around practical products.
“For brands, this creates an opportunity to turn everyday products into elevated gifting experiences,” Srivastava said.
Pee Safe is focusing on curated product combinations, festive-ready packaging and accessible premium price points, while ensuring products remain practical and relevant.
Health-Conscious Indulgence Finds A Place
The changing relationship with health and indulgence is also influencing food and beverage gifting.Parul Sharma, Co-Founder, Gladful, said, “I see festive gifting moving beyond simply exchanging something sweet towards choosing gifts that feel thoughtful, useful and better aligned with the recipient. At Gladful, chocolate spreads are our largest category, offering indulgence while giving consumers versatility across flavours and uses.
This year, we have curated four festive hampers combining our chocolate spreads with better-for-you options such as makhana crackers, cocktail nut mixes, dry fruits and festive essentials. We are making these available through our website, Amazon and quick commerce to cater to both planned and last-minute gifting.”
Kunal Verma, Co-founder of SORRY SUGAR, said growing awareness is reshaping how India approaches festive gifting.
“Traditional mithai and sugar-heavy gifting options are gradually making room for choices that feel healthier, more premium, and experience-led.”
According to Verma, younger consumers increasingly want gifts that reflect how they live and what they value.
“By bringing together indulgent flavours, zero added sugar, and the experience of flavoured coffee, the brand offers a modern alternative to conventional gifting — one that doesn’t ask consumers to choose between taste and a more health-conscious choice.”
The company is responding with thoughtfully curated gift sets across different price points, making it possible to offer an indulgent and premium experience while remaining mindful of what goes into the products.
The underlying shift is from gifting something merely because it is traditional towards choosing something that has greater relevance to the recipient.
Gifting Becomes A Lifestyle Statement
The expansion of festive gifting is also bringing categories such as fine beverages into the mainstream premium gifting conversation.Varun Jain, Founder and CEO, Smoke Lab Vodka, NV Group, said the biggest change is that gifting is becoming “a reflection of the giver’s understanding of the recipient”.
“People are choosing products based on personality, lifestyle and taste, rather than simply following traditional gifting conventions. This is creating space for Indian brands to bring flavours and familiar ingredients into a more contemporary gifting format.”
At Smoke Lab Vodka, the brand is seeing consumers increasingly appreciate variety and discovery in what they gift and serve.
Its range includes Smoke Lab Aniseed, Smoke Lab Saffron, Smoke Lab Green Chilli Mango and Smoke Lab Liquid Gold, offering different flavour profiles.
Jain said Saffron, with its strong association with Indian culinary traditions, offers an interesting alternative while retaining familiarity. There is also growing interest in miniatures and curated selections.
“Festive gifting is therefore becoming less about simply choosing an expensive product and more about offering variety, discovery and a story that connects with the recipient.”
For premium gifting, presentation is becoming part of that story.
The willingness to spend more, Jain said, comes from the desire to give something memorable and well considered.
“People want their gifts to feel chosen, not standardised.”
Consumers are increasingly comfortable spending more when the product offers quality, a distinctive story and a sense of occasion, while corporates are looking for gifting that reflects their own brand values.
Smoke Lab’s Liquid Gold Vodka, featuring 24K edible gold flakes, is positioned as an example of how product provenance and visual appeal can add another layer to celebratory gifting.
“We are also seeing greater interest in premium packaging and thoughtfully assembled hampers, rather than one-size-fits-all gift boxes,” Jain said.
Homegrown Provenance Becomes A Differentiator
The growing emphasis on identity and provenance is also benefiting homegrown premium brands.Sanya V. Jain, Co-Founder, Mohulo Gin, said festive gifting is moving towards curated, lifestyle-led choices, with fine beverages increasingly becoming part of the shift.
“There is a growing appetite for gifts that feel distinctive, contemporary and have a strong sense of identity.”
Mohulo Gin, which describes itself as India’s first sipping gin, brings an indigenous element through its connection to the Mahua flower.
“Festive gifting is no longer only about the value of the product; presentation, origin and the overall experience are equally important.”
For the brand, premiumisation is less about simply spending more and more about receiving greater value, distinction and thought.
“The brand’s Indian identity and modern approach to gin make it particularly relevant to consumers who are exploring homegrown spirits and looking for something beyond conventional gifting choices.”
As corporate gifting becomes more curated, the brand sees greater scope for customised selections and elevated packaging tailored to different occasions, audiences and requirements.
Books Turn Gifts Into Experiences
The diversification of gifting is not confined to consumables. Books and associated experiences are also finding a stronger place in the festive basket.Nidhi Gupta, Director, Crossword Bookstores, said festive gifting is increasingly moving from a transactional exchange to a more thoughtful expression of sentiment.
“While traditional mithai continues to hold its place, consumers are looking for gifts that feel more personal, useful and reflective of the recipient’s interests.”
At Crossword, this is translating into growing interest in curated book-led gifting, where books are paired with stationery, lifestyle products and thoughtful add-ons.
Personalisation is increasingly based on age, interests, genres and individual preferences.
There is also a growing experience-led component.
“There is also a clear shift towards experience-led gifting, where the gift extends beyond the product to include author interactions, workshops, literary experiences and opportunities to discover something new.”
The result is a gift that can have a life beyond the festive moment.
“This reflects a larger consumer preference for gifts that carry meaning and create a lasting memory rather than simply being consumed and forgotten.”
Crossword is responding with curated selections across price points and occasions, spanning books, stationery, games, children’s products and lifestyle categories, along with DIY hampers, premium crochet flowers, diaries, bookmarks, mugs, and Twyne bags and pouches.
The retailer is also focusing on presentation and packaging, while tailoring selections to regional preferences and festive occasions.
Luxury Moves From Indulgence To Keepsakes
Perhaps the clearest indication of the changing gifting mindset is the growing interest in products designed to stay with the recipient.Khyathi Jetwani and Manish Jetwani, Founders, IRRA Luxury Living, said festive gifting is increasingly about choosing something meaningful.
“While traditional mithai continues to be an important part of Indian festivities, there is a growing preference for gifts that are enduring, useful and have a sense of individuality.”
At IRRA Luxury Living, this is reflected in increased interest in premium home and lifestyle pieces, particularly silver-plated tableware, serveware and décor that combine craftsmanship with contemporary design.
“There is also a clear shift towards gifting pieces that can become part of the recipient’s home rather than being consumed or put away after the festive season.”
Personalisation is particularly relevant to this category, with customers looking for designs and pieces that reflect the recipient’s taste, lifestyle and aesthetic.
“We believe this is where luxury gifting is headed, towards objects that carry an emotional value, have a functional purpose and can be cherished for years.”
For corporates, gifting is increasingly becoming an extension of personal taste and a reflection of the thought and value attached to business relationships.
IRRA is responding with curated selections of silver-plated tableware, serveware and home accents across occasions and price points.
“Presentation is equally important, particularly in luxury gifting, so we place considerable emphasis on packaging and the overall unboxing experience.”
Mithai Evolves, Rather Than Disappears
Despite the rapid expansion of categories, traditional Indian sweets remain an important part of the festive economy. What is changing is the level of curation, provenance, quality and presentation expected from the category.Naresh Sharma, CEO, IRHPL (Group of Companies), said: “Festive gifting in India has not moved away from mithai — it has raised the bar for what mithai must be.”
“The customer still wants the emotion of a sweet box, but now expects provenance, craft and transparency alongside it.”
At Mishthaan, this is reflected in regional products including Agra’s Petha, Alwar’s Kalakand, Punjab’s Dhodha Burfi, Bengal’s rasgulla, Karnataka’s Mysore Pak and Uttar Pradesh’s Peda.
The festive range also includes Ghewar for Teej, besan barfi and moong dal barfi, alongside an in-house range of chocolate variants from nine different regions.
“The clearest shift is towards clean-label. Our Kaju Katli is made with no added preservatives, and that assurance now influences the purchase decision as much as price does.”
Chocolate, Nostalgia And The Experience Economy
At Lamourde Choc, Sharma sees an even sharper shift towards premium gifting.“For the festive season we have curated a dedicated gifting range drawn from the largest selection of international and Indian chocolate under one roof — a category that barely featured in Indian festive gifting a decade ago and is now among the first things a premium customer reaches for.”
The appeal, he said, goes beyond chocolate itself.
“What they are choosing is not simply chocolate; it is the confidence that what they hand over will be recognised as considered.”
The brand has also retained a Nostalgia Range featuring Phantom sweet cigarettes, Stick Jaw toffees from Dehradun and Ooty chocolates.
“Customers are not buying confectionery there; they are buying back a piece of their childhood and handing it to someone they love.”
This highlights another dimension of the evolving gifting economy: emotional relevance can come from nostalgia just as easily as it can from luxury, wellness or discovery.
“Experience-led gifting, for us, begins before the gift is ever opened — in a store designed to be walked through and discovered, and in a curation that does the thinking for a customer who has fifteen minutes and someone particular in mind.”
Corporate Gifting Becomes An Extension Of The Brand
Across categories, corporate gifting is emerging as an important driver of premiumisation.Beauty Garage’s Bharti Ravaria said gifting is increasingly shifting from being transactional to becoming “more thoughtful, experiential, and reflective of the recipient’s preferences”.
“While traditional mithai continues to hold cultural relevance, consumers and corporates are now exploring premium beauty, wellness, gourmet, lifestyle, and curated products that offer greater utility and a sense of personal connection.”
For corporates, gifting has become an extension of brand and stakeholder relationships, making quality, presentation and personalisation increasingly important.
“At Beauty Garage, we are approaching festive gifting with this shift in mind by focusing on thoughtful product curation, premium packaging, and differentiated experiences across various recipient groups.”
The same trend is visible across the other categories. Smoke Lab sees corporates seeking gifts that reflect brand values. Crossword is creating selections for employees and clients. IRRA can curate luxury products according to occasion, relationship and budget. MARS is building propositions that can work across personal, family and corporate occasions.
This indicates that corporate gifting is moving away from volume-led standardisation towards more segmented and recipient-specific approaches.
The New Gifting Equation
Across gourmet foods, wellness, beauty, beverages, books, chocolates, personal care and luxury homeware, the emerging gifting economy points towards a common consumer expectation.The gift should feel chosen rather than standardised.
That can mean artisanal food selected for someone’s lifestyle, a beauty set designed around self-indulgence, a wellness product that fits into a daily routine, a bottle that reflects an interest in discovery, a book that connects with a passion, or a piece of homeware that can become part of a family’s celebrations for years.
It also explains why packaging, storytelling, provenance and personalisation are becoming increasingly important.
The experience now starts before the gift is opened — with the selection, the presentation and the anticipation — and continues through how the recipient uses, displays, shares or remembers it.
For brands, this is creating a broader opportunity than simply selling festive products. They are building gifting ecosystems around identity, lifestyle, emotion and experience, with offerings that can span different price points, occasions and regions.
And for consumers, the festive gift is increasingly becoming a way to say something more specific: I know you, I understand what you like, and I chose this for you.
That is ultimately what is driving India’s festive gifting economy towards a more premium, personal and experience-led future.
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Pearl Global Expands Bangladesh Capacity, Adds 7 Mn Garments
The new facility takes Pearl Global Industries’ total installed manufacturing capacity across geographies to around 108 million pieces annually, while expanded laundry capacity is expected to improve efficiency and reduce water consumption
Pearl Global Industries has commissioned a new manufacturing facility and expanded its sustainable laundry capacity in Bangladesh, adding around 7 million pieces of annual garment capacity as the apparel exporter strengthens its manufacturing footprint in the key sourcing market.
The Gurugram-based company said the new unit will take its overall installed manufacturing capacity across geographies to around 108 million pieces per year at optimum utilisation. Pearl Global manufactures garments across South Asia, South-East Asia and Central America.
The expansion comes as the company seeks to leverage Bangladesh’s established apparel manufacturing ecosystem, skilled workforce and trade access to major global markets.
Bangladesh Capacity Expansion
Pulkit Seth, Vice-Chairman & Non-Executive Director, Pearl Global Industries, said the company was continuing to deploy strategic capital expenditure to capture growth opportunities in Bangladesh.“Bangladesh continues to be a growth driver for the Group, supported by its favourable trade access to major global markets. This capacity addition further strengthens our ability to serve leading global customers and represents another important milestone in our growth journey,” Seth said.
He added that the investment would support the company’s long-term objective of building a scalable and globally competitive manufacturing platform.
Sustainable Laundry Capacity
Alongside the new manufacturing unit, Pearl Global has expanded its in-house sustainable laundry capacity in Bangladesh.Pallab Banerjee, Managing Director, Pearl Global Industries, said the additional capacity would strengthen the company’s multi-country manufacturing network and help it respond to the evolving requirements of global customers.
“The expansion will further enable us to leverage this ecosystem while meeting the evolving requirements of our global customers,” Banerjee said.
The expanded in-house laundry operations are also expected to improve operational efficiency, reduce washing costs and lower water consumption. According to Banerjee, the investment is expected to generate a return on capital employed of approximately 18-20%.
Building A Multi-Country Manufacturing Network
The latest investment adds to Pearl Global’s strategy of building a diversified manufacturing network across multiple sourcing regions. The company said the Bangladesh expansion will strengthen its ability to serve global customers while increasing capacity within an established apparel manufacturing ecosystem.With the new unit, Pearl Global’s installed manufacturing capacity across its operating geographies stands at approximately 108 million pieces annually, further expanding its production platform for global apparel customers.
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Bhartiya Mall Bets On High-Intent Shoppers For Festive Growth
Bengaluru’s Bhartiya Mall expects festive sales to grow 20–22 per cent, with fashion, electronics and home categories driving demand as consumer activity improves
Bhartiya Mall of Bengaluru is positioning itself differently from destination-led malls that depend primarily on large visitor volumes. Located within the integrated Bhartiya City development in Thanisandra, the mall is building its proposition around neighbourhood convenience, high-intent shopping and a wider family experience.
That positioning is becoming increasingly relevant as online shopping changes why consumers visit physical retail destinations. Shoppers are often arriving with a specific need or brand in mind, but the mall is seeking to convert that planned visit into a longer, multi-category experience through fashion, electronics, home, dining and entertainment.
The mall estimates that 95-97 per cent of its visitors are now high-intent shoppers, compared with around 80 per cent earlier. For Bhartiya, this makes the quality and conversion of footfall more important than simply maximising visitor numbers.
While talking to BW Retail World, Rama Raju, Senior Vice President, Retail, Bhartiya Urban, says the mall’s neighbourhood positioning allows it to combine everyday retail requirements with experiences that encourage families to spend more time at the property. With average dwell time exceeding two and a half hours, the strategy is to create multiple reasons to stay, from shopping and dining to outdoor activities, screenings and festive programming.
This also gives the mall a different role within Bengaluru’s retail landscape: rather than being a destination consumers visit solely for a large shopping trip, Bhartiya aims to become a regular retail and lifestyle hub for the surrounding catchment, while using experiences and new-age brands to broaden its appeal to younger shoppers.
Festive Demand Set To Pick Up
Last year’s festive season was relatively subdued across the broader retail market, said Jermina Menon, Brand & Marketing Strategist, Bhartiya Urban. But consumer activity has improved since June-July. The mall expects the recovery to extend into the festive period, traditionally one of the most important sales windows for retailers.The mall’s festive strategy will combine consumer-facing communication, ongoing activations and retailer-led promotions. Unlike destination malls that may rely heavily on large volumes of visitors, Bhartiya positions itself as a neighbourhood shopping centre within the integrated Bhartiya City development in Thanisandra, Rama.
High-Intent Shoppers Drive Conversion
A key shift identified by the executives is the increasing purchase intent of consumers visiting physical retail destinations. Bhartiya estimates that about 95 to 97 per cent of its visitors are now high-intent shoppers, compared with roughly 80 per cent earlier.The executives attributed part of this shift to the rise of e-commerce, which allows consumers to browse products and brands from home. As a result, physical visits are increasingly driven by a specific shopping requirement, dining, entertainment or an experiential need. For Bhartiya, this has implications for the relationship between footfall and sales.
This also fits with the mall’s neighbourhood-centre positioning, where consumers make a deliberate trip to the destination rather than relying solely on incidental high-street traffic. Rama Raju, has previously described the property as a neighbourhood mall focused on experience-led retail.
Fashion, Electronics Lead Festive Demand
Fashion and electronics are expected to remain the largest contributors to festive sales at the mall, with home and gifting-related categories also seeing stronger demand.Electronics typically benefits from festive offers and promotions, while fashion remains a core category during the season. Home-related purchases are also expected to gain from gifting and household spending, with a significant portion of annual home-category sales takes place between October and December.
Beauty, personal care, fragrances and fashion accessories are also seeing greater traction. Gifting-focused products such as chocolates and other consumables are expected to add to the festive basket.
Rama Raju said consumers often enter the mall with a specific purchase in mind but may add other products during the visit. A shopper arriving to purchase a home product, for instance, could make additional purchases after discovering other brands or categories within the mall.
Discounts Remain A Key Purchase Trigger
Promotional offers are expected to remain an important part of festive retail, with shoppers looking for discounts without necessarily compromising on brand or product quality. The executives highlighted on how retailers are combining their own offers with mall-level promotions, including vouchers, bundled offers and gifts linked to purchase values.The executives said the festive shopper increasingly looks at the overall value of a purchase rather than simply the headline discount. Bundled products, gift vouchers, movie tickets and dining benefits can therefore form part of the purchase proposition.
D2C Brands Expand Offline Presence
Digitally native and direct-to-consumer brands are becoming an increasingly important part of Bhartiya’s tenant mix as consumers move between online discovery and offline purchases.Jermina said brands that originated online are increasingly adopting an omnichannel model, while traditional offline retailers are also expanding their digital presence. The mall has added several digitally native brands across fashion, lifestyle and other categories, including Frido, Sorele, Kameleo, Snitch, The Indian Garage Company and The Sleep Company.
Jermina said the performance of these brands varies by consumer segment and category. Youth-focused brands such as The Souled Store have a stronger fit with its Gen Z catchment, while brands such as Snitch and The Bear House target different price points and consumer profiles.
Millennials And Gen Z Form Core Shopper Base
Millennials and Gen Z together account for about 80 per cent of Bhartiya Mall’s shoppers, according to Jermina. The two groups, however, contribute differently to the mall’s consumption mix. Millennials are more likely to visit as families and therefore purchase across a wider range of categories, including furniture, mattresses, home furnishings and electronics.Gen Z shoppers, meanwhile, are more concentrated around fashion, lifestyle and youth-oriented brands. Jermina said the growing presence of digitally native brands has helped the mall expand its offering for this cohort.
Men’s Ethnic Wear Gains Ground
Men’s ethnic wear is emerging as another area of interest during the festive period, with the expansion of organised brands increasing the range of products available to consumers.Jermina said branded men’s ethnic wear has developed significantly over the past four to five years, led by the expansion of players such as Manyavar and followed by regional and other organised brands.
The trend mirrors the earlier evolution of women’s ethnic wear, where the expansion of organised brands increased consumer choice and shifted purchases from unbranded or tailored products towards ready-to-buy branded apparel.
Experience Extends Shopping Trips
The mall is also banking on dining, entertainment and outdoor activities to increase the time shoppers spend at the property. Rama Raju estimates its average dwell time at more than two and a half hours. Executives said the mall’s open spaces, outdoor activities, screenings and festive programming encourage families to stay longer after completing their purchases.The additional time spent at the mall can create opportunities for further shopping, dining and entertainment consumption. Rama Raju said the positioning combines retail with food, events and entertainment as part of its neighbourhood-centre strategy.
The mall’s festive calendar is therefore being built around both commerce and community activities, with the objective of bringing families into the centre and extending their engagement beyond individual purchases.
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Billu Salon Bets On Speed, Quality To Scale At-Home Grooming
Founder Nilesh Kothari says Billu Salon is focused on making at-home grooming more accessible, with 30–45-minute service delivery, in-house trained staff and expansion into major Indian metros on the roadmap
At-home grooming is increasingly becoming a convenience-led category as consumers look for faster services, competitive pricing and greater flexibility. Billu Salon is positioning itself around this shift, particularly in the men’s grooming segment, by combining at-home services with an app-led salon ecosystem.
In an interview with BW Retail World, Nilesh Kothari, Founder, Billu Salon, discusses the gap the brand identified, its service model, customer preferences, technology-led approach and expansion plans.
What gap or opportunity did you identify in the salon and grooming market that led you to build Billu Salon? How has the vision evolved since its inception?
If you look at Sundays, most salons are full and people have to wait, particularly in the male grooming category. During the morning hours, it can be difficult to get an appointment without waiting.Saturday and Sunday are also when people generally have more personal and family time. That made us think that people should not have to wait to get grooming services. The service should be available to them at their convenience.
While implementing this, we realised that we could not have a high price point, particularly for the male segment. Men generally do not prefer paying Rs 500, Rs 600 or Rs 700 for a haircut. They usually want it within the Rs 200–Rs 300 range.
That is how we started, with the idea of providing grooming services at home at an affordable price.
What has been your larger vision for Billu Salon?
The vision is very simple. I want to reach every person who is keen on grooming. On our app, we not only provide at-home services but also give salons an opportunity to list themselves on the platform. They can manage their entire salon through our app.Salons get visibility, dynamic pricing, offers, an integrated payment gateway and other features. So, the complete ecosystem is available within the Billu Salon app for salons as well.
What differentiates Billu Salon in an increasingly competitive and fragmented beauty and grooming market?
The first thing is speed. We are available within 30 to 45 minutes for most of our services. Other brands may specifically provide quick services such as massages within 45 minutes, but with Billu, we are providing almost all services within 30 to 45 minutes.We have our own staff who are on our payroll. We have a large pool of staff who are regularly trained at our training centres and are then available to serve customers.
This allows us to focus on quality. At the moment, we are focusing on both quality and quantity.
Because we have our own staff, there is not the same pressure to rush through appointments. A freelancer may focus on earning more and, if they receive another appointment, they could potentially compromise on the previous appointment.
With Billu, this is not going to happen because our staff do not have to focus on the commercial aspect of each appointment. They can focus on delivering quality to the end customer.
That is one of the key ways we differentiate ourselves, and our customer base is increasing day by day.
How are changing consumer preferences, particularly among younger consumers, influencing your offerings?
The younger generation wants to have quality time. They do not want to spend 30 minutes, 45 minutes or even an hour simply waiting or travelling to and from a salon.That is why we are getting a lot of customers, particularly between the ages of 18 and 50. They are our primary customers, and this customer base is increasing significantly.
When it comes to their choices, they are ready to spend money, particularly in the male segment. Even if we charge Rs 10 or Rs 20 extra, they are comfortable with that.
Women are also spending a lot on beauty and grooming, and that spending is increasing. At the same time, they are looking for platforms that provide better pricing, better products and an overall better experience.
How important is pricing in your business model?
Pricing matters a lot. We keep our pricing very competitive. It is not highly priced, but it is also not the lowest pricing. I would call it fair pricing.We are completely focused on fair pricing.
What is Billu Salon’s growth strategy over the next three to five years? Are you looking at expanding through your own outlets, introducing new formats or entering new markets?
Right now, we are operating in Delhi NCR, and we are very close to reaching break-even.As soon as we reach break-even, we will look at expanding into metro cities across India. These include Mumbai, Bengaluru, Chennai, Hyderabad, Pune, Ahmedabad, Surat and Raipur.
That is where we are planning to expand.
Are you also planning to expand your service portfolio?
Yes. We are going to introduce a couple of new services that are currently not available at home through any platform. We are planning to introduce these very soon, by October itself.As a founder, what are your key business priorities right now — talent, technology, service quality or profitability?
We are focusing on quality. That is the first thing.We train our stylists regularly. Every two months, we conduct training sessions for them. We also have an internal matrix where we assign points for each service.
Every two months, we review their performance and identify areas where they may have fewer skills or require reskilling. This is an ongoing programme within our organisation.
So, the first thing is quality. That is what we are focusing on.
The second is quantity. We are increasing our customer base, and that is how we are looking at growth.We want to maintain the same pricing. We do not want to increase our service prices. Instead, we want to increase the number of customers we serve.
So, increasing our customer base is our focus at the moment. When it comes to technology, we are already very well established on that side, and it is an ongoing programme.
I cannot say that I am separately focusing on technology because without technology, I cannot build this entire platform in the first place. Technology will always be an ongoing focus. The primary focus is always on quality and customer acquisition.
How do you see Billu Salon’s position in the at-home grooming market, particularly in the men’s segment?
We are specifically catering to men, and there are not many brands offering at-home services specifically for men in this way.In the quick-commerce category, no one provides the service within 30 to 45 minutes. We are providing the service within that timeframe.
For us, the combination of speed, fair pricing and quality is important. We want customers to be able to access grooming services when they need them, without having to wait or travel to a salon.
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Ecommerce Growth Spreads Beyond India’s Biggest Cities
EasyEcom data shows 57.2 per cent of Ecommerce orders come from outside India’s 96 largest cities, but these markets account for only 39.3 per cent of order value
India’s ecommerce growth is increasingly being driven by markets beyond its largest urban centres, but the value of those transactions remains concentrated in bigger cities, according to an analysis by EasyEcom.
The analysis of more than 200 million orders processed through the platform over the 12 months to July 2026 found that 57.2 per cent of orders originated outside India’s 96 largest cities. However, these markets accounted for only 39.3 per cent of total order value, with an average order value (AOV) of USD 8.66, compared with USD 17.89 across the 96 largest cities.
The 96 largest cities generated 42.8 per cent of orders but accounted for 60.7 per cent of order value. The five largest cities contributed 15.7 per cent of total orders, while the top 10 accounted for 22 per cent.
The data indicates that while Ecommerce demand is spreading across a wider geographic footprint, transaction economics remain significantly stronger in larger markets.
State-Level Rankings Shift When Value Is Considered
The gap between order volume and order value becomes more pronounced at the state level. Of the 15 largest commerce states in EasyEcom’s dataset, 13 changed positions when ranked by order value rather than order volume. Maharashtra and Delhi were the only two to retain their respective rankings.Haryana emerged as a notable example. The state ranked 11th by order volume, with around 8.3 million transactions, but moved to third place by order value. Its AOV of USD 39.71 was more than six times Bihar’s USD 6.36 and more than three times the national blended average of USD 12.61.
Bihar, meanwhile, fell from 10th by order volume to 15th by order value despite processing more than 8.3 million orders.
Across states, AOV varied 7.1 times, from USD 39.71 in Haryana to USD 5.60 in Tripura. The top three states by value generated 44.1 per cent of total order value from just 26 per cent of orders.
Bengaluru Leads Volume, Gurugram Leads Value
City-level data also highlights significant differences in transaction economics.Bengaluru was the largest market by order volume, processing around 11 million orders during the period — 84 per cent more than Mumbai. Gurugram, however, ranked seventh by order count with 2.8 million orders but was second by order value at USD 192.9 million.
Gurugram’s AOV stood at USD 69.86, more than four times Delhi’s USD 15.65, despite processing roughly half as many orders.
Other markets showed similar variations. Noida recorded an AOV of USD 32.75 and Greater Noida USD 40.70, while Rajkot, despite processing nearly a million orders, recorded an AOV of USD 6.51.
According to EasyEcom, these differences mean brands may need to adopt more granular approaches to pricing, inventory placement and fulfilment rather than treating broad geographic clusters as economically uniform.
Festive Demand May Be Spreading Across A Longer Window
The report also points to a possible shift in the shape of India’s festive Ecommerce season.During the 2025 festive period, September recorded 16.60 million orders, followed by 16.67 million in October. Orders then fell to 14.93 million in November before recovering to 16.45 million in December. EasyEcom described the pattern as an extended plateau rather than a single sharp October spike.
The shift has operational implications for brands. Instead of preparing primarily for a short period of peak demand, companies may need to manage inventory, replenishment and working capital over a longer period.
The issue is particularly relevant in 2026, with Diwali falling on 8 November, 19 days later than in 2025. EasyEcom said its May–July 2026 period had already processed 58.1 million orders, 20.5 per cent above the 48.2 million orders recorded during September–November 2025. The company cautioned that this is an observed run-rate comparison and not a forecast for festive sales.
B2B And Quick Commerce Show Different Economics
The analysis also highlights significant differences between commerce models.B2B transactions accounted for only 0.29 per cent of total orders but represented 27.3 per cent of total order value. Their average order value was USD 1,344.65, compared with USD 10.11 for B2C transactions.
Quick-commerce transactions accounted for 0.04 per cent of order volume but 1.7 per cent of value, with an AOV of around USD 667.49 in EasyEcom’s dataset.
Quick-commerce order volume increased 77.1 per cent between August 2025–January 2026 and February–July 2026, while value per order declined by only 2 per cent, from USD 688.19 to USD 674.36.
EasyEcom said the pattern suggests brands may need to view quick commerce as a high-frequency supply and replenishment relationship rather than simply another online storefront.
Brands Face A More Fragmented Ecommerce Landscape
Across the more than 200 million orders studied, EasyEcom recorded a 19.3 per cent increase in order volumes between the two six-month periods, from 94.1 million orders in August 2025–January 2026 to 112.3 million in February–July 2026.The company said the growth is being distributed across markets, states and commerce models with significantly different transaction values and operating characteristics.
Punit Gupta, Co-founder and CEO, EasyEcom, said India’s commerce map had expanded faster than its economics had converged, making it important for brands to assess where inventory should be positioned, replenishment frequency and the cost of serving different markets.
The report, titled India’s Commerce Map Is Changing, is based on EasyEcom transaction data covering more than 200 million orders over the 12 months to July 2026. The company noted that the findings represent transaction patterns observed on its platform and should not be interpreted as estimates of the entire Indian Ecommerce market.