Ecommerce channels see 25% growth in purchase volumes during Diwali season
Diwali season, according to data from digital payments firm Visa.
Further, the data shows that consumer credit card spending rose 18% YoY during Diwali, pointing towards the growing usage of credit cards in the Indian market during the festive season and lesser reliance on debit cards as a medium of transaction.
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Offering CollegeCourseWebsiteIndian School of BusinessISB Digital TransformationVisitNorthwestern UniversityKellogg Post Graduate Certificate in Product ManagementVisitMITMIT Technology Leadership and InnovationVisitMeanwhile, face-to-face commerce grew 12% from the year-ago period.
Among ecommerce transactions, apparel and accessories, and discount store merchandise were the most prominent categories. Jewellery stores, electronic stores, and grocery stores/supermarkets emerged as the top categories for face-to-face or in-store commerce/purchases.
Diwali push
ET reported on November 13 that the festive season sale this year brought a much-needed boost in online shopping after a muted start to the year in the first half. Ecommerce companies and online brands reported a steady uptick in sales with categories such as electronics, food, grocery, and jewellery reporting double-digit growth over last year.
Even as offline retail is operating at full strength, consulting firm Grant Thornton Bharat estimated more than 50% of total festive sales to have come through online platforms against 45% in 2022.
According to data from Unicommerce, which helps businesses sell online, order volumes for ecommerce grew about 37% during the festive season sale this year, compared to 2022. In terms of gross merchandise value (GMV), online retail registered 22% growth.
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