The low-key mood reflected in the September quarter financial results of some of the marquee fast-moving consumer goods (FMCG) companies was yet to be replaced with an all-out shopping mania till the weekend before Diwali. Last-minute shopping is more spread out now with some retailers pinning their hope on the weekend after Diwali, expecting sales to peak by then.
Nilesh Gupta, managing director of Vijay Sales, a prominent electronics goods chain headquartered in Mumbai with stores across the country, told Business Standard that the coming weekend was expected to do well as consumers would flock stores to ensure they did not miss out on the Diwali offers. As of last weekend, footfall in markets picked up, he said, adding that mobile phones and large screen TVs were performing especially well.
"The coming few days will be crucial, we expect to clock a 7-9 per cent growth (in value) this Diwali." Last Diwali, the year-on-year (Y-oY) growth was estimated at around 10 per cent.
Demand failed to pick up in the early part of the festival season because of widespread rain in several parts of the country besides the overall consumption slowdown. Avneet Singh Marwah, chief executive officer (CEO) of SPPL, which is a brand licensee of Kodak, Thomson, White Westinghouse and Blaupunkt, said: "There was a slowdown till Navratri, but sales have picked up since then and we expect this trend to continue till Diwali. We've witnessed a growth of 15-20 per cent year-on-year." The weekend business wasn't too robust in fashion and lifestyle retail, but it picked up during the week just days before Diwali. "In the last two days, like-for-like sales are better than the weekend and are in mid-single digit. We are waiting and watching how the situation pans out even post Diwali as the wedding season approaches," said Devarajan Iyer, CEO at retail chain Lifestyle.
この記事は Business Standard の October 31, 2024 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です ? サインイン
この記事は Business Standard の October 31, 2024 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です? サインイン
MVA lists five poll guarantees, promises ₹3K/mth to women
The Maha Vikas Aghadi (MVA) Opposition alliance in Maharashtra unveiled \"five guarantees\" for the upcoming Assembly polls on Wednesday, which include a monthly allowance of ₹3,000 and free travel in state transport buses for women.
Indian markets celebrate the 'Red' win
Register biggest one-day gains in six weeks on Trump's victory
COSTS VARY: DO COST-BENEFIT ANALYSIS BEFORE BUYING RIDER
Tata AIG General Insurance recently introduced five new riders that can be purchased with its health insurance policies and provide more than 60 benefits to customers.
Wall Street indices hit new highs
Wall Street's main indices soared to record highs on Wednesday, as Republican Donald Trump won the 2024 US presidential election in a remarkable comeback four years after he was voted out of the White House.
Dollar set for biggest one-day jump since '20
The US dollar soared on Wednesday and was set for its biggest one-day rise since March 2020 after Republican Donald Trump won the US presidential election, while the euro, Chinese yuan and Mexican peso were among the biggest losers on potential new tariffs in the regions.
Hindustan Zinc OFS garners bids worth ₹3,385 cr
Hindustan Zinc's (HZL's) share sale on Wednesday garnered bids for 67 million shares - worth ₹3,385 crore - as against 105.6 million on offer.
Bitcoin surges to all-time high
The price of bitcoin hit a new high Wednesday as investors bet that former President Donald Trump's victory in the US presidential election will be a boon for cryptocurrencies.
Swiggy IPO subscribed 12% on first day of offer
The initial public offering (IPO) of food delivery major Swiggy was subscribed 12 per cent on Wednesday, the opening day of the issue.
High-growth segments, Tier-II, -III cities to drive long-term gains for ABB
ABB reported a weak quarter. Revenue was at ₹2,910 crore, up only 5 per cent year-on-year (Y-o-Y), with operating profit at ₹540 crore, up 23 per cent and net profit at ₹440 crore.
Nvidia overtakes Apple as world's most valuable firm
Nvidia Corp became the largest company in the world on Tuesday, surpassing Apple Inc and underscoring just how dominant artificial intelligence has become on Wall Street.