RETAILERS ARE ESTIMATING consumer spends of close to ₹4 trillion this Dussehra and Diwali with shoppers expected to splurge on a range of products. This would be a jump of 25% over last year, when consumer spends were around 3.2 trillion and 60% higher than the 2.5 trillion seen in 2019, across online and offline channels.
Spending during the Independence Day and Onam sales in August was strong, led by premium products. Durables, electronics, fashion and lifestyle saw a year-onyear sales growth of 15-20% during the Independence Day weekend. During Onam, celebrated in Kerala, sales were up 23-25% year-on-year, according to top industry executives.
Categories that could be big beneficiaries during the coming festive season are durables, electronic products, apparel, fashion and lifestyle goods, jewellery, toys and other gifting items, kitchen appliances, beauty and personal products, and sweets and confectionery.
The estimates have been made by companies, consultancies including Deloitte and Redseer, Confederation of All India Traders (CAIT) and the Clothing Manufacturers Association of India (CMAI).
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