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Beauty products witnessed a 51.51 per cent annual rise in sales this Diwali, according to a report by Assiduus Global Inc., a cross-border e-commerce accelerator for D2C brands. The report released on Tuesday also found that electronics, lifestyle, and beauty products emerged as the top-selling segments during the recent festive shopping trends.
According to the report, the beauty products category emerged as the top three favourite among the younger demographic with 47 per cent of sales coming from the 18 to 24 years age group, followed by 21.27 per cent from the 35 to 44 years age group.
Region-wise, Kerala topped the list in sales of beauty products followed by Karnataka, and Maharashtra. According to the Assiduus, there was a 118 per cent increase in beauty product orders from Kerala compared to Karnataka on Flipkart.
Among other top-selling categories, Mobile phones, adaptors, and earpods were the top-selling products in the electronics category with brands like Redmi, OnePlus and Boat taking the lead, said the report.
Further in the lifestyle and beauty segment, face and body creams emerged as top sellers with brands like L'oreal, Nivea and Himalaya taking the lead.
The Assiduus report also noted that healthcare and nutrition products saw a 86 per cent rise in new shoppers in 2023, compared to just 26 per cent in 2022. However, the segment was not among the top three selling categories on D2C platforms.
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“This is a clear indication of the seismic shift being observed in the healthcare and nutrition segment in the country, with Indian users making more health conscious choices. There is greater awareness and demand for innovative products, with the willingness to spend more on products that can help consumers achieve health goals,” said the report.
The segment has seen a 31.40 per cent surge in cost per click in 2023 compared to 28 per cent in 2022, underscoring the competition among brands vying for limited space within marketplaces, said the report.
"India continues to be absolutely phenomenal when it comes to online shopping and increase in new shoppers. Projections by Redseer anticipate a significant compound annual growth rate (CAGR) of 27 per cent, propelling the industry to a staggering $163 billion valuation by 2026. These forecasts closely align with the observed trends on our platform, reflecting the increasing preference for online shopping among Indians,” said Somdutta Singh, Founder & CEO, Assiduus Global Inc.
He further said that there is an exponential rise in sales from Tier 2 and 3 cities in India.
“The increased engagement of younger generations and the rising interest from smaller cities are pivotal indicators, showcasing the broadening acceptance and accessibility of online shopping across diverse demographics and geographies," said Singh.
