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Diwali Shopping Expands Beyond Essentials as Fashion and Gifting Gain Ground
Sentiment: NeutralHigh Priority
What Happened?
This Diwali, consumers are spending more on fashion, gifting, and home appliances, with significant growth in festive shopping compared to previous years. Notable increases in orders for diyas, festive fashion, and gifting items reflect this trend.
Key points
- Zepto recorded 468,000 orders for diyas during the festive period.
- Demand for festive fashion doubled compared to last year.
- Orders for flowers and garlands grew 2.5 times.
- GoKwik estimated gross merchandise value of ₹1,328 crore during the pre-Diwali period, an 81% increase from last year.
- Average daily GMV on GoKwik rose 70% year-on-year to ₹83 crore.
- IGP expects sales to grow 40% this Diwali compared to last year.
Key insights
- The growth in festive spending may indicate a shift in consumer behavior towards more diverse purchases.
- Non-metro cities are becoming significant markets for festive shopping.
- The rise in gifting trends suggests a growing market for personalized products.
Why it matters
The increase in festive spending reflects changing consumer preferences towards a broader range of products.
Entities
Zepto· CompanyGoKwik· CompanyIGP· CompanySwiggy· CompanyFlipkart· Company
Source
Business Standard
