India is a festival-rich country, which not only amplifies the spirit of celebration but also fuels a surge in shopping enthusiasm. Amazon (NASDAQ: AMZN), the global e-commerce titan, strategically unveils its Festive Season Sale at least two times a year, with the October-November edition notably outshining all other seasonal sales. Interestingly, Amazon’s month-long Great Indian Festival (GIF) 2023 emerged as the best-ever shopping celebration for Indian customers, sellers and brand partners.
The Amazon Great Indian Festival 2023 kickstarted on October 8th, featuring 24 hours of exclusive Prime early access to over 5,000 new launches from top brands. The product categories spanned across electronics, books, apparel, fashion accessories, and home decor, creating an exciting shopping experience for customers.
Amazon Welcomes Over 15 Lakh New Customers
In the backdrop of the Diwali festival and the upcoming winter season, there has been a remarkable surge in shopping on Amazon. During the Amazon Great Indian Festival 2023, more than 15 lakh new customers embarked on their first shopping spree. Notably, a staggering 80% of these new customers hailed from Tier 2 and below towns, showcasing the widespread festive enthusiasm.
Moreover, over 65% of Prime members participating in the Amazon festive season shopping belonged to tier 2 & 3 cities and towns, a significant increase from the previous year’s 50%. The festival sale also witnessed the highest-ever Prime sign-ups in a single day.
Amazon’s GIF 2023 aimed to make shopping more affordable and convenient for customers, emphasizing exciting bank discounts and unique rewards. This approach resulted in customer savings exceeding a remarkable INR 600 crores. This collective success marked the best-ever festive season for Amazon India and its esteemed partners.
SMBs Soar to New Heights with Record-Breaking Sales
During the Amazon Great Indian Festival 2023, small and medium businesses (SMBs), startups, artisans, and women entrepreneurs stole the spotlight, showcasing a diverse array of products. A staggering 6,500 sellers experienced an impressive 5X spike in sales compared to 2022. Amazon witnessed history in the making, with over 38,000 sellers achieving their highest-ever single-day sales. Among them, 750 sellers reached sales in crores, while an impressive 31,000 sellers achieved sales in lakhs.
Amazon India observed a substantial 30% increase in SMB participation this festive season compared to the previous year, with over 65% of sellers securing sales from tier 2, 3 cities, and beyond.
Indians Shopping Across Categories
The Amazon Great Indian Festival 2023 witnessed an extensive shopping spree across diverse categories, showcasing the evolving preferences and choices of Indian consumers.
- Smartphones: Amazon witnessed a 2.5 times YoY increase in premium smartphone sales in India. This growth was driven by affordability options like No-Cost EMI and Exchange offers. Notably, 60% of smartphones sold were 5G-enabled, and 70% of orders came from Tier 2 and below towns, indicating a broadening market beyond metropolitan areas.
- Large-screen TVs: Amazon Great Indian Festival 2023 recorded a 50% YoY increase in sales for large-screen TVs (55 inches & above), reaching an all-time high
- Consumer Electronics and Personal Computing: Three out of five orders in this category came from tier 2 and 3 cities, reflecting the growing influence and purchasing power of consumers beyond metros.
- Fashion: Amazon Fashion witnessed a threefold spike in sales in 2023 compared to 2022, with significant interest in products like sarees, men’s denim, casual wear, premium shoes, and sports shoes.
- Beauty and Personal Care: On Amazon’s e-commerce platform, the recently trending beauty devices category witnessed a substantial 70% YoY surge in sales. Within the broader beauty category, sales for dermatologist-led branded products and beauty gift sets increased an impressive 3x and 4x year-on-year, respectively.
- Fresh and Daily Essentials: Amazon Fresh achieved its highest-ever single-day sales and orders during this year’s festive season, experiencing more than 50% YoY growth. There was a 3x increase in first-time shoppers on Amazon Fresh.
- Healthy Living Products: A key preference for customers during the festival was healthy living, with a two-times spike in air fryers and water purifiers. Additionally, there was a 1.6 times increase in outdoor sports products, a 1.5 times rise in home workout equipment, and a 1.3 times increase in demand for healthier cooking options such as triply stainless steel and cast-iron cookware.
- Amazon Devices: During the Amazon Great Indian Festival 2023, customers exhibited a remarkable affinity for Amazon Devices, including Echo smart speakers, Fire TV devices, and Kindle e-readers. Impressively, an Amazon Device was purchased every 10 seconds, underscoring the widespread popularity and demand for these innovative tech offerings.
B2B Success and Live Streaming Extravaganza
Amazon Business experienced a significant uptick in B2B customer engagement during the opening day of the Amazon Great Indian Festival 2023. The B2B segment experienced its highest single-day customer sign-ups in 2023, marking a 1.4 times increase compared to the previous year. Additionally, there was a noteworthy 3.7x surge in Amazon Business app downloads compared to the previous year.
In terms of seller success, Amazon Business witnessed a substantial 1.6x spike (2023 vs. 2022) in B2B sellers achieving “lakhpatis” status during the festival.
To enhance the shopping experience, Amazon Live played a pivotal role, hosting over 1000 hours of live streaming powered by 300+ influencers. This initiative aimed to empower customers with valuable insights for making informed purchase decisions. The continuous live streaming, totalling 18+ hours every day, achieved unprecedented engagement, propelling viewership to an all-time high. This multifaceted approach highlights Amazon’s commitment to facilitating a robust B2B ecosystem and providing an enriched shopping experience for its customers.