Listings and demand for consumer durables and electronics surpass pre-Covid-19 levels buoyed by consumer sentiment for value, a desire to upgrade and the shift to digital
OLX, India’s largest online classifieds platform continues to experience high growth amid Covid-19 as evidenced by numbers and trends on the platform. Computers, laptops & accessories, and tablets have seen the highest growth among all categories of consumer electronics and appliances, across both metros and non-metros, driven by continued work from home and online schooling for kids. This is matched by growth in demand for home decor and garden furniture owing to people spending a lot more time at home and the celebratory optimism of the festive season.
As per data from the OLX platform, both metro and non-metro users show a similar trend in their demand for computers and laptops. There is an increase of nearly 150 percent for computers and laptops in Q3, 2020 over the first quarter of the year and nearly 100 percent increase in demand for computer accessories in the same time frame. In home décor and garden furniture, demand in non-metros far outstrips demand in the metros. While the former has registered 175 percent increase in demand in Q3, over Q1 of 2020, metros have registered 100 percent increase in demand.
Interestingly, the growth in the total number of buyers from non-metros far outstrips those from metros across all consumer goods categories in Q3, 2020 over Q1. Demand for consumer durable products such as ACs, TVs, washing machines and furniture (sofa and dining) is nearly 2X in all these categories in the non-metros for Q3, 2020 compared to Q1, 2020. This trend is a clear reflection of the impact of the pandemic in metros compared to non-metro that are expected to recover faster than its metros from the Covid-19 disruption. The trend on OLX also indicates the growing comfort of using online services in non-metros, catalysed by the pandemic.
The supply or new listings on OLX amid Covid-19 months also continues to outstrip the pre-Covid-19 levels. Notably, the listings of fashion goods across all geographic clusters, has seen the highest increase in Q3 over Q1, registering nearly twice the growth in metros over this period.
Similarly, in both the electronics/appliances and furniture categories, growth in the number of listings from non-metros has outstripped the growth in metros by a factor of 2-3 across the different product types. This highlights the inclination among people to upgrade, especially ahead and during the festive period. With the lockdown, users have also had more time on hand to rearrange their homes by doing away with goods they no longer need on OLX.
“OLX is the leading online platform globally and in India where people can easily, safely and conveniently find their perfect home, upgrade their lives with gadgets for work or play, sell things they no longer need, or strike a great deal on something they need. The data and trends on our platform amid Covid-19 confirms the real impact of our value proposition during a critical time when customers needed it the most”, said Sunny Kataria, Vice President, OLX India.
