This year, Black Friday surpassed Diwali sales for D2C: GoKwik
63% rise in GMV during the 3-day sale for D2C as against Diwali
New Delhi: GoKwik, India’s largest e-commerce enabler solving complex problems in this space, said that D2C brands on its network said that recently concluded; “Black Friday” sales have outpaced Diwali and Dusherra sales this year.
As per the Gokwik data, brands on its network saw a 63% increase in GMV in just three days compared to the 10-day Diwali sale. Similarly, compared to the pre-Dussehrasale, Black Friday sales were 43% higher. 51% of merchants of the Gokwik network saw at least a 30% spike in orders, while electronics as a category attracted most of the demand.The eCommerce enabler, which works with over 500 eCommerce players and D2C brands, said that most of the brands witnessed a steep rise in sales during the three-day Black Friday compared to the important Indian traditional festive seasons such as Diwali and Dussehra.
Black Friday is one of the busiest shopping days of the year in the United States and falls on the Friday right after Thanksgiving, which traditionally marks the start of the Christmas celebrations. Retailers offer massive discounts on products. While the concept is “foreign, ” with the advent of online shopping in India and the rise in consumerism, Black Friday has been slowly becoming popular amongst young and discount-loving Indians.
Interestingly, Tier 2 and 3 towns contributed a whopping 75% to the sales over the Black Friday weekend. Chirag Taneja, Co-founder & CEO of GoKwik, said, “The massive growth in sales during the Black Friday weekend suggests that consumer sentiments look very promising in India and are devoid of any signs of slowdown or pessimism with regards to the looming global recession.”
He further added, “that the majority of orders are coming from tier 2 & 3 cities consistently, whether during Black Friday or Diwali this year shows that eCommerce, especially D2C, has found acceptance amongst the shoppers accelerated by the pandemic. Overall, D2C has found its niche timing to drive sales.”
GoKwik was founded in 2020 by Chirag Taneja, Ankush Talwar, and Vivek Bajpai to solve significant problems with e-commerce brands, including enhancing customer experience, abandoned cart recovery, increasing conversions, boosting GMV, and reducing the return to origin (RTO). Their solutions extend to the shoppers’ pre, during, and post-purchase journey.
With its robust solutions backed by deep tech and data science models, the startup has helped brands reduce RTO by 30% and improve conversion rates by over 35%.
GoKwik, which counts well-known brands such as Limeroad, Mama Earth, Man Matters, Boat, The Man Company, Neeman’s, Lenskart, and Shoppers Stop, amongst others, has over 80 million shoppers on its network. They recently also announced that they have successfully processed over $1 billion in orders in their network and have seen a 520% increase in transactions year-on-year.