India, 12 November 2024: As the Indian festive season unfolds, Criteo (NASDAQ: CRTO), the commerce media company, released insights into online retail sales, traffic, consumer behaviour, and preferences during Diwali 2024. Demonstrating a clear acceleration in growth and heightened consumer intent, this year’s Diwali period showed a significant boost across multiple retail categories, led by consumer electronics and fashion, with sustained engagement throughout October.
Criteo’s analysis of Indian shoppers’ online purchases completed during the peak week leading up to Diwali (October 25-31) showed a gradual consumer journey, with an average of 15 days from initial product view to purchase completion. The most deliberate shoppers took over one and a half months to finalise their purchases, highlighting a careful selection process during the festive season.
Compared to the same two-week period before Diwali in 2023, online retail sales saw an impressive 14% increase on average in 2024, underscoring Diwali as a crucial event for India’s retail landscape. Fashion stood out with a remarkable 42% increase in sales, followed by Consumer-Packaged Goods (CPG) at 13%, indicating a robust consumer demand for festive-related products.
During the peak period (October 18 to 31, 2024), the average sales surged across categories like Home & Garden, Apparel, and Health & Beauty, showing how seasonal decor and personal style align with Diwali’s festive spirit. In Home & Garden, light ropes and strings led with a remarkable 204% increase, followed by candles (122%) and dinnerware (89%). Apparel also saw significant growth, with coats and jackets topping subcategories at 154%, followed by pajamas (81%) and sarees/lehengas (78%). Meanwhile, in Health & Beauty, hair styling products saw a 61% rise, with nail care (60%) and bath & body kits (54%) following close behind.
Medhavi Singh, Country Head—India of Criteo, commented on the findings, “With Indian shoppers increasingly exploring and purchasing festive products earlier each year, Criteo’s insights indicate that Diwali is more than just a holiday; it is a defining period for retail growth and customer engagement. To capitalize on this opportunity, businesses should implement a comprehensive commerce media strategy with a full-funnel and omnichannel approach to deliver seamless customer shopping experiences across platforms”.
For retail overall, traffic across product description pages rose by an impressive 42% in October 2024, compared to September. On September 26 alone, online sales jumped by 44% and maintained a consistent 38% average increase through October, with a slight dip on Diwali day (November 1). By category, October sales figures demonstrated growth of +77% in Fashion, +60% in Consumer Electronics, and +15% in CPG, showcasing sustained consumer interest across diverse product lines.
Conversion rates also reflected strong momentum for the Fashion vertical, where rates rose by 20% during this period. Consumer Electronics conversion rates spiked by 45% on September 26. Cost Per Click (CPC) also rose, peaking at 33% in the final week leading up to Diwali, suggesting higher competition and ad engagement as the holiday approached.
Methodology
Criteo captures organic data from 20 countries, 600 product categories and over 19,000 advertiser clients. Indexed sales are monitored on retailers who partner with Criteo Marketing Solutions and Criteo Retail Media. Criteo data includes only product categories represented by at least 5 retailers at the most granular level. Organic data means that all events from our clients, including those not attributed to Criteo, are leveraged. This allows us to produce insights regarding the market rather than Criteo campaigns.
