Criteo releases 2022 India Holiday Commerce Report
Criteo S.A., the commerce media company, released the trends observed during the Indian peak shopping season sales 2022 period, highlighting the opportunities created for all the retail and buyers with the deals across verticals and product categories in the post-Covid times. The data give a comparative analysis of product category insights between 2021 and 2022 observed during the Indian peak shopping season sales.
The Indian festivals (Raksha Bandhan) and e-commerce sales events figures give essential information and indicate the high seasonality forecast in the coming weeks, as 2022 sales have increasingly surged. According to Criteo’s insights, recovery sales increased by +20% during the Indian peak shopping season sales in 2022 compared to the previous year’s events. Additionally, sales were up almost 30% on July 31, and 21% this year, 4 days before Raksha Bandhan (11th August 2022), compared to the average in July 1-14, 2022.
As we enter the festive season, the Indian peak shopping season sales showcased an overall increase in online sales to a +30% increase during the period compared to a +19% increase during the 2021 sales event. In fact, on the first day of the sales event this year, online sales increased by +28% compared to 2021.
Highlighting the surge observed in the trending product categories from numerous verticals during the Indian peak shopping season sales:
- Hats were the most trending in 2022, with an 87% increase in sales, whereas bridal party dresses showed an increase of +101% during 2021’s event
- In electronics, while flash Memory saw a 100% surge in daily sales during the event, Storage Devices stood out with an uptick of +41% in 2021 event
- Televisions were the most trending category amongst Indian consumers. The category saw +44% increase in unit sales during 2022 and +32% during 2021 event.
- During the Indian peak shopping season sales, Food Gift baskets have always seen a major hike, irrespective of the pandemic. In 2021, there was a +99% hike in unit sales on the last day of the event. During the event in 2022, Wine was most preferred, with a 34% sales growth overall. Last year, dried fruits were popular during the event with an uptick of +24%.
- During the Indian peak shopping season salesperiod, Hair Styling Products had an overall uptick of +70% compared to the body weight scale (55%) during the 2022 event. Travel Pillows were popular in both years with (+83%) in 2021 and (53%) in 2022. Massagers (+63%) were also trending during the Indian peak shopping season in 2021.
- Candles and many other home goods were in high demand during the Indian peak shopping season salesperiod; the following categories’ sales were up in 2022 and 2021
- Light Ropes and Strings: 218% (2022)
- Trash Cans and Wastebaskets: 112% (2022)
- Electric Kettles: 98% (2022)
- Food Mixers & Blenders: 85% (2022)
- Tablecloths: 102% (2021)
- Slipcovers: 95% (2021)
- Wallpaper: 51% (2021)
- Home Decor Decals: 46% (2021)
- Refrigerators: 44% (2021)
- Candles: 44% (2021) and 75% (2022)
- Artificial Flora: 29% (2021)
- Bath Towels & Washcloths: 28% (2021)
Taranjeet Singh, Managing Director, Southeast Asia and India, Criteo said, “This year, the Indian e-commerce and retail industry saw a combined festive surge in the unit sales as consumers go hybrid in their purchasing preferences. The Indian peak shopping season salessaw some new categorial uptick, including coffee makers & expresso machines, travel pillows, futons, and sofas, and so on, indicating the economy’s recovery and growth as well. With new categorial uptick, we encourage marketers across sectors to continue to invest in digital advertising in the ongoing festive season with Commerce Media strategies that cover all the purchasing funnels and shopping channels”.
Link to access the complete Criteo Holiday Commerce Report
Disclaimer: Information mentioned here has not been verified or endorsed by Agency Reporter and is in accordance with the press release shared by the company or their appointed representatives.