New Delhi. With the economic progress of India, people’s preferences are changing. This was revealed at the Amazon Great Indian Festival (AGIF) which started from September 27, in which premium products dominated the demand in all categories including television, smartphones and large appliances.
Amazon India Vice President Saurabh Srivastava said that the company recorded a 10-fold increase in sales of Apple iPad and five-fold increase in sales of Samsung tablets during the Amazon Great Indian Festival (AGIF) 2024.
Srivastava said. “One clear trend that was seen is premiumisation. When we look at it, be it television or fashion and beauty, gaming laptops, home and kitchen appliances, we have seen a clear trend of premiumization. People are giving preference to more premium products. Again, this is not limited to just the top cities,”
He said that large screen TVs contributed about 30 percent of the total unit sales in this segment and their demand has increased 10 times on year-on-year basis, with Samsung, Xiaomi and Sony emerging as the most preferred TV brands. .
Srivastava said. “Apple and Samsung are premium products in tablets. The sales of Apple tablets have increased 10 times and the sales of Samsung tablets have increased 5 times. When you think of large appliances, obviously, these are washing machines and refrigerators and ACs, but the premium ones like front-load washing machines, or side-by-side refrigerators, or ACs larger than 1.5 tons, years- “It has increased by 30 percent year-on-year.”
He said the fashion and beauty segment witnessed a 400 per cent growth in premium categories across watches, fragrances, handbags, Korean beauty, jewellery, accessories etc.
Srivastava said the company registered 20 percent more customers during AGIF 2024 compared to festive season sales during the same period a year ago. He said that 140 crore customers visited the Amazon Great Indian Festival 2024 – which is the highest till date. More than 85 percent of the customers were from non-metro cities.
Amazon India saw 50 percent year-on-year growth in B2B customers who made their first purchase from Amazon Business.
He said AGIF 2024 also set new milestones for vendor success and saw more than 70 percent growth in vendors selling more than one crore compared to last year. The online marketplace strengthened its fast delivery capabilities, delivering over 3 crore products to Prime members across India on the same or next day, a growth of 26 percent over last year.
Amazon India said in a statement that 70 percent of Prime members who shopped during the festive season were from tier-2 and 3 cities, compared to 60 percent last year.