Diwali 2022 witnessed a 17% YoY increase in online sales compared to 2021: Criteo Report

Criteo, the Commerce Media company, releases the comparative insights observed two weeks before the Diwali holiday season of 2021 and 2022.

The findings highlight that online sales data for the two weeks before Diwali (October 10-23) shows an increase of 17% versus the same two-week period last year (October 21-November 3). The data shows that Indians put their festive spirit and their generosity on display with more purchases than in 2021. Additionally, the highest spike in online sales was recorded on September 23, compared to the first 2 weeks of September 2022, which corresponded with the beginning of the peak shopping season.

According to the research, while online sales for Arts & Entertainment were down -20% in 2021, they climbed by +33% in the two weeks leading up to Diwali 2022. In addition, average online sales for Food, Beverages, and Tobacco were down -16% in 2021, and grew +23% in the two weeks leading up to Diwali 2022. After months of down sales YoY in Food, Beverages, and Tobacco, we saw an increase in sales of +9% in October signalling a bigger Diwali in 2022 for this product category. Similarly, furniture sales were down -26% in 2021 and climbed by +17% in the two weeks leading up to Diwali 2022.

October 2022 saw a YoY recovery uptick in several categories, including:

Juices (+186%)
Hair styling product (+151%)
Animals & Pet Supplies (+20%)
Baby & Toddler (+34%)

Interestingly, shoppers started early and saris & lehengas sales were up +95% in August and September. Additionally, stuffed animals (+50%), mobile phones (+48%), pants (+35%), and indoor and outdoor plants (+34%) also showed the highest average index just the week before Diwali.

Taranjeet Singh, Managing Director, Southeast Asia and India, Criteo said, “The Diwali holiday season reached a new high this year. The data demonstrates how Indian consumers depend on online purchases for a variety of goods leading up to Diwali, indicating the importance of preparing early with an Always-On strategy and improving engagement by leveraging online customer data and first-party attributes. This will enable the brands to reach seasonal, lapsed, and current customers from their early research phase through their last-minute shopping, making the most out of the festive season.”

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.