Amazon India sees high growth in sales of premium products during the festival period

Demand for premium products across all categories, including TVs, smartphones and large home appliances, dominated the Diwali seasonal sales during the Amazon Great Indian Festival (AGIF) 2024, which began on September 27, a senior company official said on Saturday.

Amazon India Vice President Saurabh Srivastava spoke about this. PTI that the company recorded 10x growth in Apple iPad sales and five times growth in Samsung tablet sales during the Amazon Great Indian Festival 2024.

“One clear trend is premiumization. When we look at it, be it TVs or fashion and beauty, gaming laptops, home and kitchen appliances, we see a clear trend of premiumization. People prefer more premium products. Again, this is not limited to just the top cities,” Srivastava said.

Large-screen TVs accounted for about 30% of total sales in the segment and demand has grown 10 times year-on-year, with Samsung, Xiaomi and Sony emerging as the top choices, he said. TV brands.

“When it comes to tablets, Apple and Samsung are premium products. Apple tablets have grown 10x and Samsung tablets have grown 5x YoY (compared to last year). When you think of large appliances, the obvious ones are washing machines, refrigerators and air conditioners, but at a premium level. such as front-load washing machines, side-by-side refrigerators or air conditioners weighing more than 1.5 tons, grew by 30% year-on-year,” Srivastava said.

He said the fashion and beauty segment recorded 400% growth in premium categories: watches, perfumes, bags, Korean cosmetics, jewelry, luggage, etc.

Srivastava said the company recorded 20% more customers attending AGIF 2024 compared to festive sales during the same period a year ago.

“The Great Indian Amazon Festival reached 140 million customers in 2024, the highest ever. More than 85% of the customers were from non-metro cities,” Srivastava said.

Amazon India saw a 50% year-on-year increase in the number of B2B customers making their first purchase from Amazon Business.

“AGIF 2024 also set new milestones in the success of sellers and witnessed an increase in the number of sellers by over 70%, surpassing sales by crores compared to last year. The online marketplace has expanded its fast delivery capabilities by delivering over 3 crore products to Prime members across India via same or next day delivery, up 26% year-on-year,” he said.

In a statement, Amazon India said 70 per cent of Prime members who shopped during the festive season were from tier-2 and tier-3 cities, up from 60 per cent last year.