Festive Sales See Shoppers Log In, But Hold Back On Big-Ticket Purchases
India's online festive sales during October 8-18 generated $7-8 billion in gross merchandise value with nearly 100 million shoppers placing over 350 million orders. However, underlying data reveals consumer caution: online festive sales declined 7-10% year-over-year, card spending fell 12-15%, and expected urban discretionary spending for the full festive season dropped 6% to ₹1.97 lakh crore. Rising household expenses, job uncertainty, and less compelling discounts are driving reduced big-ticket purchases despite sustained browsing activity.
Key points
- Early festive GMV reached $7-8 billion with 100 million shoppers in October
- Online sales down 7-10% YoY and card spending down 12-15% YoY
- Urban festive discretionary spending forecast at ₹1.97 lakh crore, down 6% YoY
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