The National Retail Federation (NRF) predicts a 3.5% increase in US’ winter holiday spending for 2024, US$ 989 billion. Gift cards remain the top gift choice, followed by clothing and beauty products.
Indian exporters have also seen significant growth, with Amazon Global Selling reporting an 80% increase in sales during Black Friday and Cyber Monday last year. To support this, Amazon introduced programs like SEND for efficient shipping and Export Navigator to help with cross-border logistics. Around 70,000 Indian exporters are preparing to showcase millions of “Made in India” products, tapping into growing international demand, especially in the US.
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The National Retail Federation (NRF) predicts that the US winter holiday spending in 2024 will reach new heights, growing by 2.5% in 2023 to 3.5% in 2024. This growth translates to a projected total of US$ 979.5 billion to US$ 989 billion in consumer spending during the November and December period, up from US$ 955.6 billion in 2023.
Gift cards continued to top the wish lists of consumers, with 53% of shoppers requesting them this year. Other popular gift categories include clothing and accessories (49%), books and media (28%), and personal care or beauty products (25%).
In addition to the strong domestic holiday spending forecast, Indian exporters are also expecting a surge in business, particularly during the Black Friday and Cyber Monday (BFCM) sales. Indian sellers on Amazon Global Selling reported an impressive 80% YoY growth in sales during this period last year. Exporters from smaller cities in India, such as Karur, Junagadh, Erode, and Jaipur, have contributed to this significant increase. Key product categories driving the growth in 2023 included Beauty (over 80% YoY growth), Health and Personal Care (nearly 50% YoY growth), Grocery (over 30% YoY growth), Home, and Kitchen (both nearly 30% YoY growth).
The launch of the SEND program has simplified international shipping for Indian exporters, allowing them to ship their products globally more efficiently. In its early stage, hundreds of exporters had already leveraged SEND to ship their products. Amazon has now also expanded its cross-border logistics program, adding three new carriers for air and ocean shipments from India to the US, UK, and Germany.
To further assist Indian exporters, Amazon has integrated SEND with Amazon Warehousing and Distribution (AWD), a low-cost bulk storage solution. This allows sellers to streamline inventory management, reduce costs, and improve distribution efficiency.
The growing demand for ‘Made in India’ products has given Indian exporters an edge in markets like the US. For example, Aaqib Bhat, founder of Kashmir-based brand Pashwrap, shared that his brand typically sees average daily sales of around US$ 600, which surge by 5 to 10 times during BFCM.
In preparation for the holiday season, over 50,000 new products from Indian exporters have been launched on Amazon’s global marketplaces, which include the US, Canada, and Mexico. To further support these exporters, Amazon has cut subscription fees for Indian sellers joining the Global Selling program. Additionally, Amazon has introduced the Export Navigator, a comprehensive dashboard designed to help exporters manage regulatory requirements, logistics, and payments across borders. This tool aims to address key challenges faced by small businesses and startups looking to expand internationally.
Top-selling products from Indian exporters during the BFCM sales included bedsheets, scrub apparel sets, oral care products, area rugs, towel sets, and kitchen products.
Finally, the growing consumer preference for online shopping is creating significant opportunities for Indian exporters. With around 70,000 exporters participating in Amazon’s Global Selling program, millions of “Made in India” products are set to reach global markets, especially during the holiday season. Amazon’s initiatives, such as reduced subscription fees and tools like Export Navigator, are empowering these businesses to tap into international demand. This shift towards digital commerce not only helps Indian exporters expand their reach but also strengthens India’s position in the global e-commerce, driving growth and boosting the nation’s export economy.
