Marketplace data from Fynd reveals key shifts in consumer behaviour, discounting, returns and fulfilment, signalling a more mature and competitive Black Friday landscape in India
Fynd’s Black Friday 2025 Marketplace Insights report shows a year of stabilisation and maturing consumer behaviour across India’s e-commerce ecosystem. Myntra strengthened its lead among fashion marketplaces, while Nykaa and Tata CLiQ remained steady, reflecting continued consolidation among top platforms.
One of the biggest shifts came from payments. Prepaid orders surged as Cash on Delivery (COD) dropped from 49.9 per cent in 2024 to 45.2 per cent this year, making prepaid the clear majority of Black Friday transactions. This shift also improved order quality, with COD RTO rates falling from 11.5 per cent to 8.65 per cent and prepaid RTOs halving from 4.32 per cent to 2.08 per cent.
Return rates remained highest in categories such as luxury and beauty, led by Tata CLiQ Luxury (15.7 per cent), AJIO (12.53 per cent) and Nykaa (11.06 per cent). Flipkart recorded the highest overall RTO at 9.36 per cent, indicating ongoing delivery and order-quality challenges.
Platforms deepened discounts compared to 2024 to drive conversions—Flipkart averaged 62 per cent, AJIO 55 per cent and Myntra 47 per cent. Demand also broadened geographically, with Tier-2 cities accounting for 46 per cent of orders, up from 40 per cent a year earlier. North India led the regional split at 33.6 per cent, followed by the West at 26.1 per cent. Evenings between 7–9 pm remained the peak shopping window, while weekends—especially Sunday—became the strongest sales days, replacing Friday’s dominance in 2024.
Fulfilment patterns saw a major shift, with store-led fulfilment doubling from 31.1 per cent last year to 49.2 per cent in 2025, nearly matching warehouse shipments. Rising demand also led to an increase in order hopping, up from 2.7 per cent to 4.2 per cent as platforms reallocated inventory more dynamically. Maharashtra and Uttar Pradesh emerged as the top ordering states, each contributing 13 per cent of total orders, while Bangalore and Mumbai retained their No. 1 and No. 2 city rankings for the second consecutive year.
Commenting on the findings, Ragini Varma, Chief Business Officer at Fynd, said Black Friday has evolved beyond a single sales event into a barometer of digital maturity. “The strong shift toward prepaid and the sharp drop in RTOs show rising consumer confidence. Tier-2 shoppers are becoming a major growth driver, with deeper participation and higher intent,” she said.
She added that platforms have responded with deeper discounts and smarter fulfilment models, with store-led deliveries nearly equalling warehouse dispatches. “E-commerce is becoming more efficient, customer-first and competitive. Platforms that invest in smooth discovery, frictionless payments and dependable fulfilment will lead India’s next phase of growth.”
Fynd’s analysis suggests that 2025 marks a turning point in marketplace behaviour—where maturity, efficiency and wider regional participation define the new Black Friday landscape in India.
