2024/10/29 14:18 pm
Diwali sales are expected to rise up to Rs. 4.25 trillion. In 2023 it was around Rs3.5 trillion. This depicts an approximate rise of 21% despite the soaring inflation. Consumers are expected to spend hastily during the festive season. The festive season in India starts with Raksha Bandhan, followed by Ganesh Chaturthi, Navaratri, Durga Puja, and Dussehra lasts till Diwali. Delhi alone is expected to generate Rs 75,000 crore. Traders are fighting tooth and nail to attract consumers. Different marketing tricks include point-of-contact sales, elaborate store decorations with festive lights, and different discount offers.
Dhanteras and Diwali demand for gems of jewellery this year is expected to produce Rs. 30,000 crores according to industry experts, despite the soaring prices. However, the volume might be a little lower but year on year 10-15 percent increase is predicted in the domestic market.
This Dhanteras and Diwali season, sales are expected to cross Rs 30,000 crore, despite some decline in volume, said Ashok Bengani of Gems and Jewellery Manufacturer Welfare Association.
Electronics items like mobile phones are to be the hottest product with a 12-15% rise in selling prices. Both Amazon and Flipkart reported healthy growth in sales. The E-commerce market saw year-on-year growth of 23%.
CAIT National President, Mr. B C Bhatia said that special promotions and such as buy one get one offers and exclusive Diwali discounts will entice customers more and surge the demands across crowds.
Mr Praveen Khandelwal General Secretary of Confederation of All India Traders (CAIT) and Member of Parliament from Chandni Chawk highlighted the extensive preparation stating, “Grand preparations are underway across the national capital and other parts of the country for Diwali and the festive season.”
Markets are ornamented with Diwali-themed decors, lights, rangolis, and vibrant colours giving the vibe of a festive atmosphere in villages and cities alike. Markets are being stocked on a variety of items like clothing, jewellery, electronics, home décor and puja materials. According to Khandelwal, this was a sustained trend instead of “revenge buying” as consumers are enjoying the variety of choices.