Ecommerce festive sales fell 10-12% during the first 10 days of Amazon's Great Indian Festival and Flipkart's Big Billion Days. Executives said the slowdown happened because demand for premium electronics, smartphones, and home appliances dropped. Prices for these items rose 30-40% recently, which kept many shoppers away from online platforms.
Executives attributed the slowdown to sluggish demand for premium electronics, including smartphones, home appliances and laptops, as prices of these products have risen 30-40% in the past few months. Smartphones and electronics, which account for more than half of GMV during festive sale events for some platforms, have been hit by price increases, an executive said.
Direct-to-consumer (D2C) brands and executives at ecommerce platforms and logistics firms have flagged a tepid festive season so far, with online delivery dispatches during the first 10 days of Amazon's Great Indian Festival and Flipkart's Big Billion Days running 10-12% below the year-ago period. Executives attributed the slowdown to sluggish demand for premium electronics, including smartphones, home appliances and laptops, as prices of these