MAM
Flipkart unveils #FlipTrends report 2024
Mumbai: In the run-up to this year’s festive season, Flipkart presents its H1 edition (January to June 2024) of the much-awaited ‘#FlipTrends’ report, which presents an interesting analysis of the shopping habits of 500 million+ registered Flipkart users.
What are the most popular choices in metros vs tier-three regions? What are the common and daringly different shopping habits between customers in these regions?
What are some of the unexpected purchases that peaked during certain seasons in 2024 so far?
Are ‘seasonal trends’ still in or are year-long trends ruling the roost?
Were there any premium products which saw an uptick during the months?
All this and more is presented in this latest edition of the FlipTrends Report by Flipkart.
The FlipTrends report reveals insights into an array of consumer shopping trends – some expected and many that come as a surprise.
FlipTrends 2024 findings:
India ka lifestyle and fashion destination – there’s something for everyone!
‘Vacation wear’ was one of the most searched keywords in the first half of 2024, especially during summer. Women embraced feminine fluidity, defying singular trends by opting for whimsical bows, rosette tops, chic bandeau tops, dresses, comfortable mules, 80s-inspired scrunchies, and a palette bursting with gelato pastels. Men opted for casual wear like round-neck t-shirts, open-knit and textured shirts, zipper polos, and parachute trousers. Other top choices included comfort clothing, resort wear such as printed co-ord sets and breezy summer shirts. Additionally, men’s grooming products saw a significant increase compared to 2023.
Women’s western wear and women’s ethnic wear were top choices in Bangalore, Chennai, Hyderabad, Kolkata and New Delhi; while women’s sarees were at the top of the fashion charts in cities like Agartala, Bhagalpur, Medinipur, Muzaffarpur and Puri.
Coming to traditions — there was also an unexpected demand for ‘sindoor’, almost 24 per cent y-o-y growth in 2024 so far, compared to last year.
Nostalgic flavours fuel modern palates
While modern gastronomy and fusion foods are all the rage, who says that age-old flavors aren’t that popular anymore? This year, Indians rediscovered their passion for classic recipes, stocking up on chutneys and achars. An almost 90 per cent y-o-y growth has been clocked for ‘Pickles & Chutneys’ alone, compared to 2023.
Speaking about food, ‘Food & Nutrition’ was on number two on the shopping list of customers in cities such as Bhubaneswar, Cuttack, Dehradun, Gorakhpur and Guwahati in 2024 so far.
How has India been beating the heat?
In the midst of sweltering temperatures, consumers are prioritizing freshness and comfort. Fans have surged in demand by 53 per cent on Flipkart from last year, reflecting the quest for cooling solutions. Sunscreen purchases have also increased by 40 per cent, clearly reflecting how people are prioritising sun protection. Air coolers, another key essential for beating the heat, have witnessed a significant 64 per cent increase in demand compared to the previous year. Cities like Bangalore, Bhubaneshwar, Cuttack, Gorakhpur, Hyderabad, Kolkata and New Delhi have shown a higher demand for personal care essentials such as hair oil, face wash, shampoo, and deodorants, emphasizing consumer focus on staying cool and refreshed.
Monsoon musings
In preparation for this year’s monsoon season, shoppers stocked up on essentials like umbrellas, raincoats, and mosquito vaporizers. While beauty and skincare remain top priorities for Flipkart customers throughout the year, makeup kits and fragrances observed a surge in popularity, in the run-up to monsoon.
Smartwatches continue to top the wearables charts
FlipTrends showcases a thriving consumer fascination across India with cutting-edge tech innovations. From the fitness enthusiast, and fashion lover to the on-the-go professional who wants to be always connected, the smartwatch remains a coveted accessory, leading the wearable tech trends in 2024. Other popular choices were Smart Bands and TWS Earphones which saw a notable surge in demand.
Shoppers from emerging cities lead the way for ‘safe gadget shopping’
In emerging tier-three markets, where 72 per cent of consumers opt for mobile protection, safeguarding mobile devices is not just a choice – it is a strategic necessity driven by the high stakes of device investment, critical data security and the quest to enhance both longevity and resale value. Bhubaneswar, Cuttack, and Guwahati emerged as top tier two cities and showcased a noticeable preference for such items. Meanwhile, in tier three plus cities Agartala, Medinipur, and Muzaffarpur shoppers primarily opted for sturdy handsets and plain mobile protection cases.
Topical shopping driven by sports fever and festival frenzy
Sports holds a special place in many Indians’ hearts, as seen through their shopping habits on Flipkart in the run-up to and during popular sporting events. Searches spiked for items like tennis kits, while sports merchandise and men’s tracksuits were top choices as fans nationwide rallied behind supporting their favorite players.
Another aspect that led to spikes in demand is festivals. Traditional wear and puja essentials witnessed strong demand during festivals like Navratri, Ugadi and Eid al-Fitr. Specifically, products such as sindoor, havan chowki and diyas saw a surge in demand during the festive season of Navratri.
Speaking about the H1 2024 FlipTrends report, Flipkart senior vice president – analytics and data science Ravi Vijayaraghavan said, “Consumers today are more discerning and mindful of their choices, gravitating towards seasonal and personalized preferences. At Flipkart, we are delighted to present our FlipTrends H1 2024 report which not only reflects interesting shopping trends but also showcases growth opportunities for e-commerce at large. Our commitment to customer-centricity remains unwavering as we strive to anticipate and fulfill the evolving demands of our diverse customer base. As we move into the festive spirit of things, our focus remains on fostering trust, convenience, and affordability, ensuring that Flipkart remains the ultimate destination for customers evolving shopping needs.”
#FlipTrends findings continue to showcase how millions of shoppers from both metros and tier-three regions continue to choose Flipkart as their preferred shopping destination.
MAM
PwC India announces leadership change in Deals practice
Shashank Jain steps down as co-leader after nearly three decades with the firm.
MUMBAI: When one dealmaker steps off the pitch, another is ready to take the baton because in the fast-moving world of transactions, the game never really stops. PwC India has announced a leadership transition in its Deals practice, with Shashank Jain stepping down from his role as co-leader to pursue an opportunity in the industry. The practice will continue to be led by Mohit Chopra, ensuring continuity and sustained growth momentum.
PwC India partner and leader for advisory dinesh Arora paid tribute to Jain’s contributions. “We deeply appreciate the significant contributions made by Shashank over close to three decades he has spent with PwC, particularly his defining role in shaping and strengthening our Transaction Services practice in India,” he said. Arora highlighted Jain’s support for clients through some of the most complex and significant transactions in the Indian market, noting his deep technical expertise, sound judgment and nuanced understanding of the evolving M&A landscape.
The Deals practice remains a key growth driver for PwC India, and the firm expects continued expansion under Mohit Chopra’s leadership. He will continue to guide clients through complex transactions and transformational business moments, building on the strong foundation established over the years.
Reflecting on his journey, Shashank Jain said, “I have had an exceptional journey at PwC. I owe my growth and learning to the nurturing environment and leadership development that PwC provided.” He added that he had been working closely with Mohit and the larger team to ensure a smooth transition and expressed confidence that Chopra would take the Deals practice to newer heights.
From intern to respected deals leader, Shashank Jain has clearly closed many successful transactions and now, it seems, he’s ready to strike a new deal of his own.
