Amazon India’s no‑cost EMI sales spiked to 50% of all orders from 30% last year, a 66% surge that coincides with a 15% rise in smartphone prices during the Diwali sales week—Aman Deep Lohan told business reporters.
Nikhil Dalal of Redseer Strategy Consultants said the average order value fell 7‑8% year‑on‑year, as consumers moved from high‑ticket gadgets to 500‑rupee items like fashion and beauty.
Unlike previous Diwali seasons, where sales exploded on the first two days, this year’s opening lagged 7‑10% behind, reaching only ₹29,800 crore on September 22, because the GST rate cut that triggered last year’s surge was absent.
With discounts squeezed to 5‑10% below pre‑sale levels, retailers are leaning into deeper promotions on inventory‑heavy categories, while flagship phones still lead in volume, Dalal added.
A Delhi‑based consumer, Rohit Sharma, chewed on a ₹48,000 phone and opted for an EMI plan that kept his immediate cash flow intact, noting, “I wanted the latest model but my wallet can’t afford the upfront cost.”