The discounts for the day of independence increased the steps and sales by 8-10% on an annual basis through the key retail sales destinations in the country, with a awakening in the demand for access segments that increases the hopes of a strong festive season.
Electronics sales, in particular in the most convenient segments, shopping and clothing have increased, while restaurants are benefiting from the highest traffic of the shopping center enhanced by new film versions and an increase in home catering orders, the managers in the sector said.
“After several months, there is a good application for access to medium segment segment products,” said Nilesh Gupta, director of the Electronic Vijay Sales retail chain.
Walk-in are good and there is a leap of over 8% in the value of sales compared to last year, which is better than last year, he added.Electronic companies and food retailers manage promotional offers specifically for the eve of the day of independence, one of the largest periods of consumption, together with the sales of the Day of the Republic, after the holiday season.
In the largest dealer of India Riliance Retail, sales grew double -digit compared to last year, said a manager.
He managed promotional offers in I-Day through the consumer basket: electronics, food and fashion and keeping the shops open from early morning until late at night.
The president of Haier India Satish NS said that sales of days for the day of the electronic manufacturer increased by more than 20% compared to last year, with most of the categories that guide sales.The Ecommerce app owned by Tata BigBasket recorded a 42% increase over years of sales of patriotic goods on Friday, as well as an increase in electronic sales including iPhone 16.
The shopping centers said that the steps have increased due to long weekend, discounts on offer and new films, fueled by the Coolie of Rajinikanth and the War 2 of Hrithik Roshan.
“The crowd that comes for the film adds at least 10% of the revenue for fashion brands, food and drinks,” said Hard V Bansal, co -founder of Unity Group, who manages beyond a half dozen shopping centers in Delhi and Punjab. “The next few days also seem good in terms of steps and sales,” he said.
For the first time from the Covid-19 pandemic, the theaters see Back-to-back films that go to the house, said Bansal.
Most of the offers for days continue until the weekend.
“International brands have contributed to the growth with consumers who use the lowest price during the sale to buy products,” said Muhammad Ali, CEO, retail, at Prestige Group, which manages five shopping centers in southern India. These shopping centers have recorded a 15% growth growth. “A segment that has not done well is the wear of Indian women, who is a cause of concern,” said Ali.
Hopes of rebound
The retailers and brands have fought with discretionary sales in the last 9-10 quarters, since low income consumers have been hardly pressed by the high inflation and growing lens growth. Even a greater expenditure for travel and tourism by many consumers have influenced retail sales, the managers said.
The managers, however, provided for a recovery of consumption in the second half of this tax, helped by low influences, low interest rates on loans, a reduction in income tax rates this year and good Monsonic rains.
“While the discretionary expenditure of the middle class was under pressure, some consumption began and with the wind of the festival tail, the perspectives are much better,” said Anjan Chatterjee, CEO of Specialty Restaurants, who manages chains such as continental China and Oh! Calcutta.
The trend during the day of independence was reassuring, with a growth of 15-18% on an annual basis, said.
On Friday, the government said that GST rates will be rationalized to improve accessibility, increase consumption and make the goods essential and aspiration more accessible to a wider population than Diwali than also the demand.
There was optimism among the companies with sales during June and July improving in sequence after the intermittent rains and the early start of the monsoons influenced sales in the April-May period.
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