The ongoing festive season has given commerce companies and online brand sales a big boost. Categories such as electronics, food, grocery and jewellery have reported a double-digit growth over the last year.
According to Grant Thornton Bharat, more than 50 per cent of the total festive sales have come through online platforms, against 45 per cent in 2022. Meanwhile, Unicommerce says the order volumes for ecommerce grew by 37 per cent during the festive season sale this year, compared to 2022 online retail registered a growth of 22 per cent.
It has been reported that digital transactions have increased by 50 per cent year-on-year (YoY) in the segments such as food, grocery, consumer durables and jewellery.
Data from the National Payments Corporation of India (NPCI) showed that there has been a 71 per cent jump in merchant transactions in September and October, with over 12 billion transactions.
Electronics and jewellery grew by about 10 per cent over last year, but lifestyle buying was muted.
The average size of transactions increased in the food and grocery category by 14 per cent, lifestyle was up by 9 per cent, electronics by 8 per cent and jewellery 4 per cent.
