 "online sale")
The Diwali period, from October 29 to November 11, registered a 49 per cent jump in online sales along with a 35 per cent rise in traffic, a Financial Express (FE) reported. In addition to this, the conversion rates also went up by 22 per cent, the FE report cited a festive season report by global commerce media company Criteo. Conversion rate is the ratio of customers who check a product and the customers who actually purchase it.
Compared to the sales in 2021, Diwali sales in 2022 grew by 17 per cent in 2022. Elaborating on the sales, Co-Founder and Director of Excellent Publicity Vaishali Dalal told FE, "During Diwali, brands created remarkable advertising campaigns, ensuring sustained excitement throughout the festival period." Other than this, a year free from the woes of the Covid-19 pandemic and the ICC Cricket World Cup hosted in India also contributed to the sales, the FE report said.
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Nearly one-third of the customers who bought products began their search through online ads. Another 31 per cent relied on brand websites and apps for their purchase, while 28 per cent walked into physical stores to explore the products, the FE report stated.
The shopping trends during the festive season indicated a continued K-shaped recovery in the economy, as the items related to mass consumption struggled, but the premium products registered a surge in sales, according to a CNBC report.
Also Read: Festive cheer for smartphone shipments in India with a 6-8% rise this year
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Online retailer Amazon registered more than 1.1 billion customer visits during its Great Indian Festival, with about 80 per cent of traffic for Tier 2 and 3 towns, the CNBC report said. Small and medium businesses registered on Amazon saw a 35 per cent year-on-year increase in their sales, with categories like skin care, traditional wear, jewellery, premium smartwatches, and luxury beauty products witnessing high demand.
