Black Friday has swiftly become a prominent fixture on India's retail calendar, effectively bridging the gap between the Diwali festive season and the year-end winter sales. Originally an American tradition following Thanksgiving, the shopping extravaganza has been embraced by Indian consumers and retailers alike. This adoption is fueled by increasing digital literacy, the globalization of consumer behavior, and strategic adaptations by both global and local brands.
The timing of Black Friday in India is particularly strategic. Diwali, a major festival associated with significant consumer spending, typically occurs in October or November. Black Friday, landing just weeks after, capitalizes on the residual shopping enthusiasm and provides an opportunity for consumers to snag deals they might have missed during Diwali. This creates a sustained period of heightened retail activity, preventing a sharp decline in sales following the festive season.
Indian retailers, recognizing the potential of Black Friday, are increasingly participating by offering substantial discounts across various product categories. Major players like Amazon India, Flipkart, Myntra, Nykaa, Croma, and others are rolling out Black Friday sales events, both online and in physical stores. Croma's Black Friday Sale, for instance, offers discounts of up to 50% on electronics, including smartphones, TVs, and laptops. Amazon India has also joined the trend, with its first-ever Black Friday sale launching in 2024.
Several factors contribute to Black Friday's growing popularity in India. The rise of e-commerce has made it easier for consumers to access Black Friday deals from the comfort of their homes. Increased digital literacy, particularly among Gen Z and millennial consumers, has further fueled online shopping during this period. Moreover, the fear of missing out (FOMO) on global trends plays a significant role in driving younger shoppers to participate in Black Friday sales.
The impact of Black Friday on Indian retail is substantial. Reports predict a significant compound annual growth rate (CAGR) in Black Friday sales in India by 2032, underscoring its potential as a long-term retail event. In 2024, retailers anticipated sales growth of 10% to 200% compared to the previous year. Unicommerce reported a 17% year-on-year growth in order volumes during the Black Friday sales period in 2024, with the gross merchandise value (GMV) surging by 24%.
Certain product categories experience particularly high demand during Black Friday sales in India. Beauty and personal care products, fashion, electronics, home appliances, and home decor are among the most popular. In 2024, the beauty, wellness, and personal care segment registered a significant jump in sales, with plant nutrition and health-focused foods gaining traction. The home decor segment also experienced substantial growth, particularly in decorative and furnishing items.
Black Friday has also spurred innovation in the Indian retail sector. Retailers are adopting multi-channel strategies, offering both in-store and online discounts to cater to diverse consumer preferences. They are also leveraging technology, such as artificial intelligence and data analytics, to personalize product recommendations and optimize pricing strategies. Many brands are launching early promotions and exclusive deals to capture consumer attention.
The rise of Black Friday in India reflects a shift in consumer behavior and the increasing integration of global shopping trends into the Indian retail landscape. While it originated as a Western phenomenon, Black Friday has successfully adapted to the Indian market, becoming a key retail event that bridges the gap between Diwali and the winter sales season. This trend is expected to continue, with Black Friday solidifying its position as a major driver of consumer spending and retail growth in India.
