: Online sales record crackling start; 28% growth in first two days #FinanceIndia #StockMarketNEWS Online sales record crackling start; 28% growth in first two days New Delhi, Sept 26 (KNN) The number

@StockMarketNEWS Mon 26 Sep, 2022

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Online sales record crackling start; 28% growth in first two days #FinanceIndia #StockMarketNEWS
Online sales record crackling start; 28% growth in first two days New Delhi, Sept 26 (KNN) The number of ordered placed on e-commerce platforms grew 28 per cent during the first two days of the festive season sale of 2022 as compared to the first two days of festive sale of 2021, said software-as-a-service platform Unicommerce on Sunday.

As per the reports, the electronics segment reported a 48 per cent YoY order volume growth (excluding mobile phones), driven by audio products and smart wearables. However, fashion industry continues to be the dominant category, with maximum order volumes.

Other segments such as decor, gifting products, furniture, and jeweller are also witnessing a strong growth during this festive season sale.

“The tier 3 cities are leading the race with more than 32 per cent YoY growth in festive order volumes. Over 20 per cent growth has been also witnessed in Tier II volumes,” it said.

E-commerce giants like Amazon India recorded a two-fold jump in its customer base from tier 2 and 3 cities during the first 36 hours of its festive season Great Indian Festival sale, out of which Tier 2 and 3 cities accounted for 75 per cent of the total customer base.

While Flipkart acknowledged to have received orders from tier-2 cities of the country on day 1 of the sale. Tier I cities reported a 28 per cent order volume growth, Unicommerce said.

For this report, the Unicommerce platform studied the changes in e-commerce order volumes by analysing and comparing data of over 7 million ordered items that were processed during the first two days of the festive season sale for 2022 (September 23 and 24). It was compared with data from the first two days of the sale in 2021 (October 3 and 4). (KNN Bureau)