Feedback
A pioneer B2B media and publication platform connecting with Fashion Brands & Retail in India
 

Retailers cross fingers as the festival season approaches

 

Retailers cross fingers as the festival season approaches

 

For the first time in decades, Indian retailers have mixed expectations for the upcoming festival season. The festival season in India begins in September with Ganesh Chaturti and stretches till November with Diwali and beyond. Usually, this is the most opportune time for the country's apparel, jewellery and home appliance makers as it contributes to around 40 per cent their annual sales.

Apparel retailers go easy on stocks

Though electronics retailers hope to clock some sales growth during Diwali, apparel retailers are not so optimistic. In fact, they have lowered their sales forecasts for the festive season. Meanwhile apparel brand Benetton India expects Diwali to be dull with sales declining by at least 25 per cent over the past year. According to Sundeep Chugh, Managing Director and CEO, retailers are unlikely to match numbers of previous years and may see 25-30 per cent lower sales than last year.

With customers deferring their purchases of apparel, accessories and beauty categories, retailers are going easy on stocking new inventory for the festive season. However, hopeful of demand reviving by September and October, Puma India has launched new products every month. Similarly, value retailer V-Mart, meanwhile, expects sales to improve by the end of the month on account of better farm income due to sufficient monsoons

Electronic makers upbeat about festive demand

With consumers shopping for laptaps, upgraded television sets and kitchen appliances, electronics retailers are more upbeat about festive season. Retailers like Nilesh Gupta, Managing Director, Vijay Sales expects demand for these products to continue as they are more need-based. His firm registers 40 per cent of its sales from September to November.

Makers of home appliances and consumer electronics expect around 10-20 per cent growth in demand over last year, says Rakesh Khanna, Managing Director and CEO, Orient Electric. To leverage this demand, retailers are filling up inventory for the festive season as disruptions caused by the lockdown and the subsequent shortage of labor has yielded lower production. The production of Bajaj Electricals has reduced to 70-80 per cent of its capacity though it plans to increase this to 100-110 per cent in future, says Anuj Poddar, Executive Director.

However, all retailers worry local weekend lockdowns could meddle with the festive season’s demand and their plans. Hence, they plan to go easy on discounts and instead focus on good EMI options and genuine need, adds Gupta.

LATEST TOP NEWS
  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10

Around 3 lakh e-com jobs expected this festive season: Redseer Consulting

Around 3 lakh e-com jobs expected this festive season: Redseer Consulting

     As Redseer Consulting, around three lakh jobs are likely to be created by various e-commerce and logistics companies during this year's festive season. Most of these jobs are temporary, created... Read more

As migrant workers return to work, Tiruppur units buzz with industrial activity

As migrant workers return to work, Tiruppur units buzz with industrial activity

    Worth over $2.4 trillion global apparel industry, in India the industry employs millions of workers. However, the industry is plagued by various labor rights issues further exacerbated by the pandemic.... Read more

COVID-19 accelerates India’s move to sustainable fashion

COVID-19 accelerates India’s move to sustainable fashion

    Designer Anita Dongre believes, COVID-19 has made Indian brands realize the importance of sustainable fashion production. Her company, House of Anita Dongre, sources ethically produced materials besides adopting innovative and... Read more

India’s merchandise retail to cross $1 trillion by FY25: Analyst

India’s merchandise retail to cross $1 trillion by FY25:  Analyst

     India’s merchandise retail sector, which was initially expected to cross $1 trillion in revenues by FY23, is now estimated to touch the same in FY25 due to the pandemic-induced slump... Read more

Demand recovery to lead Indian textile, apparel market growth in Q2FY21

Demand recovery to lead Indian textile, apparel market growth in Q2FY21

     Recovery in the textile and apparel sector in Q2 FY 21 is likely to be led by increasing demand in the domestic and overseas market, says India Ratings and Research... Read more

With e-com expecting festive season boost, small cities to see high traction

With e-com expecting festive season boost, small cities to see high traction

    Benefitting in a big way from the COVID-19 pandemic, the $27 billion Indian e-commerce market is expected to grow by 40 per cent in 2020. Redseer Consulting expects the market... Read more

Brands, marketplaces expect a strong rebound this festive season

Brands, marketplaces expect a strong rebound this festive season

     Brands as well as online fashion and beauty marketplaces Myntra and Nykaa expect a strong rebound during the festive season after a weak first half impacted by the COVID-19 pandemic.... Read more

Leading Indian brands foray into anti-viral clothing

Leading Indian brands foray into anti-viral clothing

     The pandemic has encouraged many Indian textile and apparel brands, including Reliance, Arvind, Aditya Birla, Donear Group, Raymond Siyaram and few start-ups to enter the market for anti-viral clothing in... Read more

India’s online shoppers to double this festive season: Redseer Consulting

India’s online shoppers to double this festive season: Redseer Consulting

     According to Redseer Consulting, the number of online shoppers in India will nearly double to around 50 million during the festive season this year. This year’s bonanza sales will gain from... Read more

Surendra Savai passes away

Surendra Savai passes away

   Credited for launching the first edition of DFU Publications in 1989, Surendra Tulsidas Savai, President, Mumbai Textiles Merchants Mahajan, passed away on September 15, 2020. He was 81 years old.... Read more

MOST POPULAR NEWS
Go to top

Follow Us On:

Face BookDealersForYou

TWDFUpublications

LNDFUpublications

YouTubeDFUpublications

 Copyright © 2020 DFU Publications. All rights reserved.