Black Friday 2024: Indian Ecommerce Platforms See 17-18% Increase in Sales

This year's Black Friday weekend saw a significant boost for ecommerce players, with direct-to-consumer (D2C) brands and online marketplaces witnessing a remarkable 17-18% increase in order volumes compared to 2023. This surge is attributed to a growing consumer interest in seasonal discounts and the approaching holiday shopping season.

According to ecommerce enablement platform Unicommerce, the gross merchandise value (GMV)—the value of goods sold on ecommerce platforms excluding returns and discounts—rose by more than 24% year-on-year (YoY). Beauty, wellness, personal care products, and home decor were some of the top-selling categories during the sale, contributing to the substantial growth across the ecommerce sector.

Factors Driving the Growth

The surge in sales was propelled by global excitement around Thanksgiving and the upcoming Christmas season, which marks the end of the year's key ecommerce sale events. Similar to Diwali sales, Black Friday also saw a notable increase in average order value (AoV), with consumers opting for more expensive items.

In the US, Black Friday is historically the busiest shopping day of the year, but in India, ecommerce platforms have adapted it as a key event to drive post-festive season sales.

Unicommerce data highlights the following:

• Beauty & Wellness: Beauty, wellness, and personal care products saw an impressive 34% growth in order volumes, fueled by demand for perfumes, deodorants, and makeup items.

• Health & Pharma: Health devices, nutraceuticals, and supplements recorded a staggering 50% YoY increase.

• Fashion & Accessories: The fashion sector witnessed a 20% increase in order volumes, with kids' apparel, travel accessories, and baby products being particularly popular.

• Home Decor: Home decor items grew by over 40%, with decorative and furnishing products leading the charge.

Record-Breaking Average Order Value (AoV)

Ecommerce platforms also experienced a significant rise in AoV across various categories. Notably, the wearables category saw AoV increase by more than 200%. Additionally, categories like computers, laptops, and fashion accessories also saw a rise in AoV, with figures exceeding 25%.

D2C Brands and Exclusive Discounts

Homegrown direct-to-consumer brands observed a substantial rise in website traffic as consumers flocked to these platforms for exclusive discounts. While growth in order volumes was somewhat slower compared to last year, many brands anticipate an uptick in the coming weeks, especially with last-minute holiday purchases expected to boost sales further.

• Foxtale: Skincare brand Foxtale experienced a seasonal spike in demand for moisturizers, lip balms, and winter skincare essentials. Anindita Biswas, Chief Strategy Officer at Foxtale, commented, "While the concept of Black Friday is still gaining traction in India, we did observe an uptick in orders this year, which indicates growing consumer interest."

• Pilgrim: Personal care brand Pilgrim's D2C website saw its highest-ever daily revenue during the Black Friday sale. "The sale saw over 30,000 orders on the first day itself,” said Anurag Kedia, cofounder of Pilgrim. AoV increased by 15% compared to regular business.

• XYXX Apparels: Men’s innerwear brand XYXX Apparels saw a 55% jump in sales during Black Friday. Co-founder Siddhartha Gondal shared, "Black Friday has been a must-do sales property for us. Historically, we see a 45% jump in sales, but this year, we witnessed a 55% jump."

Major Ecommerce Platforms Participate in Black Friday Sales

• Amazon: Ecommerce giant Amazon introduced Black Friday sales in India for the first time this year, following strong sales during the Amazon Great Indian Festival 2024.

• Myntra: Flipkart-owned fashion platform Myntra saw significant traction in categories such as beauty and personal care, watches, women’s western wear, men’s casual wear, and luxury items. A Myntra spokesperson stated, "With the onset of the winter season, winter wear has been popular among customers across the country, alongside travel accessories."

Conclusion

The 2024 Black Friday weekend has solidified its place as a major sales event for Indian ecommerce platforms, with substantial growth in various product categories, including beauty, wellness, fashion, and home decor. The rise in AoV and increased consumer interest in D2C brands show that this shopping tradition is gaining traction in India, likely to fuel further ecommerce growth as the holiday season progresses.