During the first week of India's festive season sale, which ended in October, e-commerce platforms generated a Gross Merchandise Value (GMV) of approximately Rs 47,000 crore, representing a 19% increase over the first week of the festive season sale in 2022. Mobiles, electronics, and large appliances were the main drivers, accounting for nearly 67% of the GMV during this initial sale period.

On the penultimate day of the first week's sales, there was a spectacular 36% year-on-year rise compared to the same day in 2022, making it the second-highest year-on-year growth recorded in a single day during this festive season.Redseer also found that approximately 55% of consumers who participated in the first week's sales want to make more purchases throughout the rest of the holiday season. More than half of these customers want to make purchases in the fashion area, while more than a quarter are considering purchases in the beauty and personal care, as well as home and living categories. The data reveals two separate consumer behaviors one group carefully selects premium products at attractive prices, while the other group shops more frequently but focuses on value-for-money products.

The emergence of these two consumer segments was noted by Abhishek Tandon, Engagement Manager at Redseer, who stated, "Two Indias clearly emerged in week 1 of this festive season one, who is holding on spending to buy premium products at the right prices, and second, who is shopping more frequently but spending on value-for-money products". This is consistent with our general consumption theory, which states that "while Indian consumers are holding back discretionary spending, they are willing to spend it if they receive the desired value or deals".