Retail brands – both online and offline – are betting on the upcoming festive season for sales to surge around 15-25 per cent. “With the resurgence in retail and the increase in consumer awareness about fitness and health, we are optimistic about the upcoming festive season. This year, we foresee an increase in sales of 15-25 per cent,” said Rajat Khurana, Managing Director, ASICS India and South Asia. According to September analysis by Axis My India, 48 per cent of consumers tend to shop more during the festive season as compared to the rest of the year.
“With the festivities in full swing, we are expecting a double-digit growth,” said Amit Pratihari, General Manager, De Beers Forevermark. Madame, meanwhile, expects festive season sales to soar 10-15 per cent in annual revenue. Vaibhav Saraf, Director, Aisshpra Gems & Jewels, said, “Navratri marks the beginning of the auspicious season which is followed by Diwali and the Wedding Season. This month onwards we are expecting a minimum rise of 20 per cent on our month on month sale. If the enthusiasm sustains, it can be even more.”
Even shopping centres are looking at better footfall this year after subdued festive sales the previous year. “We have already reached 20-30 per cent over as compared to the pre-Covid levels and this festive season, we are going to jump by another 20-25 per cent in terms of sales. This festive season is going to be explosive on the back of not only festivities but also weddings,” said Pushpa Bector, Executive Director, DLF Retail. She also maintained that the October- February period generally brings in 55-60 per cent of the total annual sales.
Meanwhile, Gerad Mathew, General Manager Operations, Growel’s 101 Mall, Kandivali (Mumbai), said that they are expecting this festive season to perform better than the previous year that saw conversions at 3X (YoY). “Categories such as occasion wear in apparel, footwear and beauty have already started to indicate growth. Most of the dine-in restaurants are also performing exceptionally well for some time now,” he added.
Preparations for the festive season
The sales surge will not only be driven by metro cities but also tier-II and -III towns across India. “Today our biggest growth markets are tier-II and -III cities as the aspirations of the customers in these cities are no different from those in the larger cities. In the last 12 months alone, we have approximately opened 20+ stores in tier-II cities,” said Akhil Duggar Jain, Executive Director, Madame. In anticipation of the upcoming festive as well as wedding season, retail brands are prepping with increased inventory, logistics, new launches and a spectrum of offers and discounts.