By Our Staff
Criteo, the commerce media company, has released its insights in online retails sales, traffic, consumer behaviour and preferences during Diwali 2023.
Compared to average between September 17 to 30, the impact of pivotal deal days (October 8 to 15) propelled a 26% increase in sales and an 8% surge in traffic. Diwali played a significant role in boosting online sales, witnessing a robust 72% uplift on November 10, just two days prior to the festival. The two-week period leading up to Diwali (October 29 – November 11) showcased a 49% average increase in sales and a 35% surge in traffic, with conversion rates experiencing an upswing of up to 22%. In comparison to the same two-week period before Diwali 2022, Criteo witnessed a 39% increase in online retail sales in 2023. Diwali sales in 2022 grew by 17% of that in 2021, demonstrating a clear acceleration in growth and heightened consumer intent in 2023.
Said Taranjeet Singh, Managing Director, Enterprise, APAC, Criteo: “The significant increase in online sales, traffic, and conversion rates demonstrates that the holiday shopping season presents a great opportunity for businesses in India. Criteo also found that 34% of shoppers who were new buyers during the two weeks approaching 2022 Diwali made at least one additional purchase from the same retailer between November 2022 and March 2023, showcasing the possibility of acquiring new customers and turning them into repeat customers during this season. To capitalise on the opportunity, businesses should start planning and preparing early by implementing a commerce media strategy with a full-funnel and omnichannel approach to achieve seamless shopping experiences.”