Business · Economy · 2 hrs ago
Festive sales rise in India as shoppers buy clothes and appliances
During the Navratri-Dussehra festive period in India, sales of clothes, footwear and appliances rose more than 20% year on year.
Retailers and appliance makers said financing offers and accessible monthly payments helped support purchases.
Air-conditioner sales grew by more than 50%, with unusually high temperatures boosting demand in some regions.
Car sales rose just 2%, to about 1.03 million vehicles, partly because last year’s sales had surged after a cut in goods and services tax rates.
Higher memory-chip prices pushed up gadget costs, putting pressure on sales volumes of smartphones, laptops and televisions, though premium products held up better.
Appliance companies said the strong festive period had set the stage for Diwali, and some electronics firms delayed planned price increases until after the festival on November 8.
Sales of apparel, footwear and consumer durables rose by more than 20% year-on-year during India’s Navratri-Dussehra festive period, according to industry estimates.
About 1.03 million vehicles were sold during Navratri, a 2% increase from the same period last year.
Air-conditioner sales grew by more than 50% at electronics chain Vijay Sales.
Retailers and appliance companies said financing offers and accessible instalment plans supported demand.
Smartphones, laptops and televisions faced pressure as rising memory-chip prices pushed up product prices.
- Who
- Indian shoppers, retailers and consumer-goods companies.
- What
- Sales of clothes, footwear and many household appliances rose during the Navratri-Dussehra festive period, while some memory-heavy gadgets faced pressure.
- When
- During Navratri-Dussehra; vehicle sales figures cover October 11-19.
- Where
- India.
- Why
- Companies and executives cited accessible financing and festive instalment offers. Rising memory-chip prices put pressure on demand for some gadgets.
This story does not have two clearly opposing sides.
Around 1.03 million vehicles were sold in India during Navratri, according to dealer estimates.
Electronics companies delayed announced price increases until after Diwali.
Diwali was due to fall on this date, according to the article.
- Vehicle sales
- About 1.03 million during Navratri, up 2% year-on-year
- Apparel, footwear and consumer durables
- Sales increased more than 20% year-on-year
- Air conditioners
- Sales at Vijay Sales surged more than 50%
- Memory-chip prices
- Two-to-three-fold increase cited as a driver of higher prices for gadgets
- Diwali
- November 8
What people are saying
This Navratri has been the best for the home appliances industry in the last five-six years, with high growth across categories.
There were virtually no car sales for a month prior to the cut last year.
Suitcase sales have stalled this year, for instance, while consumers are spending more on apparel, handbags and footwear.
Navratri buoyancy had laid the foundation for a robust Diwali.