Festive Demand - SHINE ON, FOR THIS DIWALI PROMISES A BRIGHTER FUTURE

Come Diwali and the whole nation adorns a festive look, purse strings loosen and families are out on a shopping spree, here is what retailers from across India feel about the upcoming festive and wedding season…

As lights of Diwali start shining on the G & J business, retailers will be having a busy season ahead and will be able to see their past losses converting into profits.

Diwali is the time for celebration in Indian families living across the world. Apart from being a festival of light, it is also the festival of worshiping wealth. Most business houses and individuals too splurge during this festival – exchanging gifts is a long-standing tradition. How will this Covid-induced Diwali prove to be? Will it adorn the same festive look? Will gold and jewellery buying be as usual? All of these questions are on top of the minds of most business owners.

Blending modernity with tradition, most Indian households buy gold during Diwali. Beginning on Dhanteras, which is considered an auspicious day to buy gold and worshipping wealth during Laxmi Pujan, this festival brings joy and showers prosperity on all Indian families.

Be cautiously optimistic this Diwali

According to Anil Kataria of D P Jewellers, MP, “This Diwali sales will be very good, possibly better than the earlier one.” During the lockdown people haven’t been able to step out of their houses for many months, they haven’t spent a lot of money on casual shopping, vacations and entertainment, so there is a good amount of money that they have been able to save. “Now, as they get an opportunity to buy, they are looking forward to invest it in gold, because they know it will give them good returns,” explains Kataria.