GST-Led Festive Buying Boom: A New Era in Indian E-commerce
The recent GST reforms have sparked a significant increase in consumer spending during the festive season. Key categories, such as electronics, fashion, and furniture, benefited from tax reductions, fueling a 23-25% rise in demand. E-commerce platforms reported record-breaking sales, with strong participation from tier 2 and tier 3 cities.
- Country:
- India
Recent GST reforms have ignited an upsurge in consumer expenditure this festive season, reducing prices across high-demand categories such as electronics and fashion. These changes have driven a 23-25% increase in purchases, as consumers become more willing to make aspirational acquisitions, per data from Redseer.
E-commerce giants like Amazon and Flipkart have experienced unprecedented demand, notably from smaller cities, with Amazon reporting over 38 crore customer visits in just the first two days of its sale. GST reforms altered key product prices, spurring sales of premium items and everyday essentials significantly.
Small and medium-sized businesses have thrived amidst the festive rush, boosting sales, particularly in tier 2 and tier 3 cities. The widespread consumer enthusiasm reflects a combination of favorable policy shifts and innovative market strategies by e-commerce platforms.
(With inputs from agencies.)
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