Diwali- is among the biggest festivals celebrated in India and most parts of the world. It is believed to be a fest which is commemorated the victory of good or evil. Lights, sweets and new dresses are the highlights of the carnival thus shopping in an integral part of the festivity. It is needless to mention the increasing rush in the markets and the soaring demands of new gifts, customs and decorative articles. Sweets are the most on demand eateries that fly off the shopping racks and these practices of crazy shopping sphere repeats each year. Hence, this month or to say the period starting from Diwali to the end of the year is observed as auspicious by traders all over the business communities.
Let’s go through some of the important business segments that witness massive hype in their incomes during the festive of lights, how much business surge does happen and which are the factors that rocket the business.
Gold Jewelry and Ornaments sector:
Gold and other precious ornaments see a sure high during the Diwali season. According to the Indian traditional purchase of gold jewels and other similar ornaments is cited to be very favorable, thus related traders buck-up their business by introducing newer, innovative designs which attract the attention of buyers. The first day of Diwali also known as ‘Dhanteras’ is believed to be the apt day for precious metal purchase. Improved disposable income, massive supply in the market and favorable buying schemes (80:20 rule being the latest) where payment can be made in easy monthly installments after the purchase are some of the encouraging factors which are pulling in the clients to the jewelry showrooms.
Online Shopping-GOING BIG AND BRIGHT:
As expected, everything these days is bought online and this festive season is no exception. Goods for Diwali right from sweets, apparels to consumer electronics are available on the Internet. Colossal ranges, home delivering; abundant discounts and effortless shopping from the comfort of home are features which have sparked the practice of online shopping in India.
The e-commerce industry is cited to expand by a margin of 250% during this festival season. Industry insiders have predicted this growth by taking into account the heavy discounts that are available online, moreover goods from all industries are put up for sale on a single website which is utterly convenient especially in big size crowded cities where shopping during the season is a pain.
According to the stats, gift articles are bounded to see the maximum rise in business with a benchmark increase of around 58%. This rise is surprising as it is even surpassing the most expected industry electronics which is all set to see a rise of around 41% this year. Clothing and apparels industry is likely to get 36% increase in its business which will be flowing through the online sources, whereas the computer and peripherals sector will hold up to a 33% hike generated via online shoppers. Goods related fitness and beauty are also in line to increase as they are expected to climb the business numbers by 12% each with online business help this year.
Apart from these the fireworks industry undoubtedly has a brighter period as most of its annual business takes place during Diwali.
Besides these, the online shopper’s combination is quite a shocker this year as it is unlike to what is usually believed -22% of the shoppers are found to be females and a majority of 78% are men. This surely shows how effortless an option is online shopping been.
Other things like sweets and savories are set to turn into a branded industry; this segment is expected grow by a whopping 200% this celebratory season. Experts from the business indicate that eateries of all kinds have a growth space this season and making innovative recipes with never before tastes are mostly in demand this year.
Hence, businesses in every segment is all set or has already started traveling with an upward curve which is a positive game changing trend for the economy for the upcoming quarter.