For sectors such as jewellery, apparel, hotels, and even automobiles, this season has created a ripple effect, turning what might have been a sluggish year for many businesses into one of strong recovery.
The apparel industry, which faced significant challenges earlier in the year, is now experiencing a revival. Store visits had started to increase during the festive months, beginning with Navratri, and now weddings are providing an added boost.
"Wedding demand is higher by 20 per cent compared to last year. This uptick started in October and has continued post-Diwali," says Mayank Mohanlal, CEO of Mohanlal Sons, a New Delhi-based fashion retailer. He believes this surge in demand could help the sector match last year's sales after months of decline.
He expects the momentum to sustain for at least another two months.
In southern India, designer sarees are particularly in demand, with an expected 22-25 per cent rise in sales, according to Jhansi Rani Chalavadi, co-founder of Sai Silks Kalamandir.
"The wedding industry is a major driver for saree sales in the South, contributing significantly to the market," she notes. Each South Indian wedding, she adds, typically involves the purchase of 50-100 sarees in a range of prices. The southern wedding and festive saree market alone contributes 50-55 per cent to the overall saree sales on these occasions, she says.
Denne historien er fra November 20, 2024-utgaven av Business Standard.
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Denne historien er fra November 20, 2024-utgaven av Business Standard.
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