Consumer spending rises 20 to 25% on Diwali; demand for smartphones, TVs and freezes high

New Delhi| Festivals have started in the country, shopping is in full swing for Dhanteras and Diwali. Dhantras-Diwali purchases typically see a 20 to 25 percent increase in consumer spending. This increase is due to attractive discounts and offers in the fields of fashion, automobile and consumer electronics. According to the recently released Indian Retail Report, the festivals from August to December contribute about 30-40 percent of the annual sales in the month. According to the report, smartphones, TVs, freeze microwave ovens are in highest demand for Diwali shopping. At the same time, automobiles i.e. cars and two-wheelers are sold at second place. After this, apparel and jewelery are sold.

The report shows that people buy their new phones and laptops on Diwali. At this time people buy new phones in exchange for their old phones. On which they also get good deals and discounts. Many big brands offer separate offers for this and new launches also increase in the meantime. Due to which sales increase. Laptops and phones account for more than 200 percent of Diwali sales. On the occasion of Diwali, there is a jump in some categories which are consumer essentials, with smartphones at the forefront (200 per cent). Laptops and kitchen appliances also boom (up 78 percent).

According to the report, customers wait for appropriate offers and discounts to buy cars, motorcycles and scooties. Although such offers and discounts now continue for a few days of the year, Indians consider it auspicious to take a car or scooter on Diwali and Dhanteras. During this period, up to 40 percent of the sales of automobiles, that is, cars and two-wheelers, take place. After this, apparel and jewelery are sold.

Buying gold and silver on Dhanteras is considered auspicious, so its sales are around 40 percent during this time. However, gold prices are at a high level this year. According to the report, due to the high price of gold, consumers can turn to silver. It is expected that the sales of silver coins and its made items are expected to increase by more than 35 percent. At the same time, sales of garments, especially fashionable garments, can be 20 per cent higher. Recently, customers have benefited from huge discounts on online platforms.

Some brand data highlights that consumers take advantage of Diwali discounts. Forty percent of consumers use loyalty programs, 53 percent trust online reviews and 54 percent share information about new products with friends and family. At the same time, haste has been seen among consumers to buy high-value goods. Experts say that in small towns, most of the fashionable things with fridges are purchased on Diwali. Whereas in metros, people buy luxury brands in clothes, phones and cars. The way disposable income has increased in the country. Because of that, there has been an increase in purchases from towns and rural areas also.