~A unique initiative transforming passionate home chefs into successful digital star chefs ~

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~ Received demand for 1500 orders items/minute during Black Friday sale weekend~

~ Fashion and Beauty & Personal Care led demand, Uptick in Eyewear and FMCG ~

~ Tier III markets lead growth with 43% increase in volumes ~

Mumbai, 28 November, 2023: The global shopping phenomenon, Black Friday, continues to make waves in India. Unicommerce, one of India’s leading e-commerce enablement SaaS platforms, based on the orders processed on its platform, conducted an analysis of the Black Friday weekend, revealing a sharp 23% increase in e-commerce order volumes as compared to the Black Friday sale weekend of 2022.

Black Friday, traditionally an American retail tradition, has firmly cemented its place in the Indian market as a major e-commerce sale event, with consumers extending their post-Diwali shopping spree to benefit from Black Friday and related sales like Cyber Monday etc.

While during the Diwali festive sales, marketplace growth outpaced D2C brands, the trend was reversed during the Black Friday weekend. During the Black Friday weekend, brand websites reported robust growth, with order volumes rising by 28% during the weekend. The marketplaces reported a relatively lower growth of 19%. The growing popularity of Black Friday has made it a crucial sales period for both online marketplaces and individual brands in India.

The Black Friday weekend brought cheers for online sellers – over 8.5 million order items demand received on the Unicommerce platform during the 2023 Black Friday sale weekend. Unicommerce received an average of 1500 orders of item demand every minute. More than 10 sellers received demand for over 100,000 orders items during the four-day weekend, and over 100 sellers received demand for more than 10,000 orders items through the Unicommerce platform.

The Black Friday surge was not limited to metro cities alone, The Tier III cities reported the highest growth of 43%, followed by 19% growth for Tier I cities and 16% in Tier II cities.

Fashion and beauty products maintained their status as the dominant categories during the Black Friday sale, continuing to attract a significant portion of consumer interest. Additionally, there was a noticeable uptick in volumes for FMCG and eyewear segments, indicating a diversification in consumer preferences during the sale season.

The platform witnessed brands across segments processing their e-commerce orders through its platform to seamlessly manage the spike in order volumes and great shopping experience to consumers.

Unicommerce’s e-commerce enablement Software-as-a-Service (“SaaS”) platform enables end-to-end management of e-commerce operations for marketplaces, brands, sellers and logistics service provider firms.

Disclaimer: The aforesaid analysis is based on orders processed by Unicommerce eSolutions Private Limited (“Company”) may not be indicative of actual trends of industry, and are subject to external factors beyond the control of the Company. The information in this report does not constitute financial advice (nor investment, tax, accounting or legal advice), and recipients shall rely on its independent assessment of industry outlook. Past performance information in this report should not be relied upon as an indication of (and is not an indicator of) future performance of any of the products or categories.

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On the sectoral front, the  BSE Auto index led the fall, followed by Realty, Bankex, and consumer discretionary stocks.Sectors which bucked the trend include power, consumer durable, and metals.

Foreign portfolio investors (FPis) should consider the option of structuring themselves as companies rather than trusts to avoid paying the increased surcharge announced in Budget 2019, Finance Minister Nirmala Sitharaman said, in a discussion on the Finance Bill in the Parliament on July 18.

FPIs registered as trusts will have to pay the new tax surcharge, Sitharaman said, dashing hopes that the government may tweak relevant portions of the Finance Bill to ring-fence FPIs from the effects of the “super-rich” tax.

So far in July, foreign investors have pulled out more than Rs 5,000 crore from the cash segment of the Indian equity market.

The broader market has been under pressure throughout this week. On Friday, more than 300 stocks touched their fresh 52-week low including names like Eicher Motors, Maruti Suzuki, HEG, M&M, TVS Motor, Hindustan Zinc, GAIL India, Yes Bank among others.

Weak monsoon progress

Till July 19, cumulative rainfall was 15.8 percent below normal levels and the weekly rainfall 19.8 percent below normal. On a regional cumulative basis, spatial distribution has been deficient across India.

Out of the 36 sub-divisions across India, till date, 18 have received deficient rainfall, 16 have received normal rainfall, three have received excess rainfall, and one received scanty rainfall, said a Kotak Institutional Equities report.

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