Retailers zero in on wedding demands

Written by Mona Mehta | Mumbai | Updated: Dec 7 2009, 07:04am hrs
The grand Indian wedding is as lavish as ever, with no one tightening their purse strings when it comes to splurging. Moreover, Christmas round the corner is also keeping retailers busy. The season coincides with improved consumer sentiment in retail spends, which is growing by 30% in the third quarter of the 2009-10 fiscal, as compared to 20% growth witnessed during the second quarter.

The wedding and festival season commenced from August will go on till the end of the year. Given this, we have seen a renewal in customer sentiments, and our sales have grown over 20% compared to the same period last year. We are confident that this trend will continue even into the new calendar year, Big Bazzar spokersperson said.

When it comes to fast food retail, McDonalds India (West and South) director marketing Arvind Singhal said, We have observed 30% growth over the last year. In a bid to tap the festive season, this year we are coming up with Fundays for kids, educative sessions conducted by Ronald McDonald, chief happiness officer (CHO) of McDonalds. Besides, we will have Christmas parties in selected locations for our young customers.

Falling short of sales target, Monginis Foods is betting high on the marriage and festive season to meet their sales objective. Monginis Foods marketing head Virendra Ghole told FE, Due to recessionary trends, this year we did not increase prices of our cakes. The consumers are trading down for sure. We are keeping our fingers crossed and hoping to do well in December.

In order to cash in on the festivity, certain mall owners are planning to open new stores. Kalpatarus Korum Mall is expected to open ethnic saree stores and branded jewellery stores. According to Korum Mall associate vice-president T Anupam, the aim is to attract more footfalls and offer variety.

Meanwhile, Platimun Guild India is witnessing increase in inquiries for platinum jewellery. Vaishali Banerjee, manager India, Platinum Guild India Pvt Ltd said, The beginning of the season had been very promising and we hope that it continues.

Portico New York CEO Rajiv Merchant said, The company is witnessing 25% year-on-year growth in wedding gifts segment and so eyes enhanced sales by this quarter-end.

In order to spur more footfalls coupled with positive consumer sentiments, @home by Nilkamal Ltd has come up with The Great Indian Wedding Festival.

The shift from traditional gifting to electronics gifting has helped branded consumer electronics companies to meet there sales target. Yashwant Duggar, director, Mitashi Edutainment Pvt Ltd told FE, The sale is taking off well across large format retail.