Wednesday, June, 07,2023

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Diwali shopping spree makes grand return

New Delhi: It is the season of lights, parties and gifts. And this Diwali, after a twoyear pandemic-induced lull, people are thronging the markets to grab the perfect gift for their loved ones and keep the ritual of exchanging goodies alive.

Shoppers are once again contending with the problem of plenty, be it in deals or offerings, which has bewildered even the most seasoned buyer.

Vandana Thapa, a homemaker, played it safe and bought a mixedbag, including electronics, home accessories to 'tried and tasted' mithai, to satiate her annual festival shopping cravings.

Her laundry list includes a bar cabinet for her brother, phone for her father, home decor items for colleagues and sweet boxes for her house help.

According to industry experts, even though gourmet hampers, furniture and accessories, like chic candle stands or crockery, and sweets are in huge demand, electronic devices, including mobile phones and smart wearables, remain the ones to beat.

Gaurav Khatri, cofounder of technology brand Noise, said, "During the festival season, demand for electronics and smart gadgets is at an all-time high and it's no different for smart wearables segment... We speculate the industry to grow 2.2 times this season while we at Noise are expecting a growth of 150 per cent."

Expecting a "truly grand" Diwali, Manish Aggarwal, director of leading packaged food brand Bikano, has set a mammoth target of "Rs 400 crore" in sales.

Sid Mathur, founder of premium mithai brand Khoya, echoed Aggarwal's sentiments and claimed that sweetmeat sales at his Chanakyapuri store had gone "beyond their own projections".

The festival season has set the cash registers ringing even louder for brands selling furniture, homeware and soft furnishing.

"We have seen a buoyant 50 per cent increase in sales over last year... our other fast selling products have been our bespoke candles, the poker box and Eden collection, which are all doing very well," said Vikash Gupta, founder and CEO of Three Sixty, a lifestyle brand and design studio.

Like previous years, the online sector too continues to garner strong demand. (PTI)

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