Janmashtami festival this year in India generated business of more than Rs 25,000 crore, said traders’ body Confederation of All India Traders (CAIT) in a statement. According to CAIT’s General Secretary Praveen Khandelwal large-scale sales were observed, particularly in flowers, fruits, sweets, deity costumes, decorative items, fasting sweets, milk, curd, butter, and dry fruits.
National President B.C. Bhartia said the festival was celebrated with great enthusiasm especially in North and West India with decorated temples and large crowds of people visiting them. Digital tableaux and selfie points with Lord Krishna were special attractions during the festival.
Earlier this month, CAIT had estimated all-time high Rakhi sales of around Rs 12,000 crore while the market for sweets, gift items, clothing, FMCG products, and other items was estimated to have generated around Rs 5,000 crore in business.
Importantly, August and September mark the beginning of festivities in the country, including Shivaratri, Teej, Rakhi, Janmashtami, and Ganesh Chaturthi.
Last year, the festive season including Diwali recorded trade of Rs 3.75 lakh crore, according to CAIT. This included about 13 per cent food and grocery spending, 9 per cent jewellery spending, 12 per cent in textiles and garments, 4 per cent in dry fruits, sweets and Namkeen, 3 per cent in home decor, 6 per cent in cosmetics, 8 per cent in electronics & mobiles, and more.
Festivals in India every year turn out to be significant economic drivers with a positive impact on retailers, e-commerce, tourism and other sectors, leading to increased consumer spending, employment generation, digital payments, and more.
According to staffing company Teamlease Services, e-commerce sector is expected to hire 10 lakh gig workers and 2.5 lakh contractual staff during the upcoming festive season to cater to surge in demand, PTI reported earlier this month.
The e-commerce industry is poised for a 35 per cent surge in sales during the upcoming festive season, which is a substantial leap from the previous year, TeamLease Services Senior VP and Business Head Balasubramanian A said in a statement.