FEASTING ON FESTIVALS

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: Markets on fire
FES Bureau

Everyone is celebrating. Either Diwali or Eid. Shopping and feasting. Government offices, businesses, travel companies, banks, organised retailers and people — just about everyone. Melas, fiestas, special gifts — there is something for everyone. It is the best time for people, and those peddling their products to them.

“You’ll be surprised how much people like to buy during the festive season. In October-November, our sales figures show a growth of 50% over that in September, while the year-on-year increase in the figure is close to 60%,” says Ratish Pandey, general manager, Bose Corporation India. Bose lifestyle products are priced from Rs 50,000 (music systems) to Rs 2.29 lakh (home entertainment systems).

A recent survey by Synovate PAX, tracking prosperity and spending habits in 11 markets across Asia Pacific, including India, shows Indians’ newfound love for lifestyle items. Gadget and gizmo ownership has also grown significantly since the last year. While PC ownership is up by 39%, mobile phone penetration among PAX respondents has increased to 54%. DVD players have gone up by 25%, while digital video camera ownership has doubled from 6% to 12%. Perhaps keeping this in mind and given that Diwali is the time of the year for big-time shopping, some companies have launched special products to cash in on the occasion. These include Breguet, the world’s most expensive watch brand, which introduced two of its most expensive numbers — Classique La Tradition for Rs 8,83,000 and Reine De Naples for Rs 15,50,000 — earlier this month.

Shopkeepers and retailers are offering enough incentives to loosen your purse strings, with discounts and special gifts on each purchase. It is also the most appropriate time to offer a scratch card, a lottery or other incentives — be it two-wheeler manufacturers Kinetic, Hero Honda and TVS or an electric goods company Electrolux Kelvinator.