After a year and a half of celebrating festivals virtually, Indian consumers were excited to have some sense of normalcy back this year during the festive season. Advertisers and brands also went all out to leverage on this uptick in consumer sentiment, starting from Raksha Bandhan to Diwali. Experts were also hopeful that the festive season will bring in cheer and serve as a respite from the pandemic-associated slumber.
According to Redseer Consulting, 2021 saw India witness its biggest ever Festive Sales with brands clocking a Gross Merchandise Value (GMV) of $9.2 billion through online channels over this period. Online Festive Sales in India continued to grow at a blistering pace and saw a 23% YoY growth in GMV. On the other hand, the categories that witnessed subdued growth this year included the likes of home furnishings, home decor, furnishings and other electronics.
With a huge push from key festivals such as Diwali, Ganesh Chaturthi and Raksha Bandhan, cautious optimism continues to thrive in the advertising industry.
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