It’s not only online retail which is witnessing record sales this festive season; it’s overall retail industry which is rejoicing over bumper sales this year during festive season.
As per a recent report by Assocham, consumer demand in 2016 has increased by 40%, compared to last year. This comparison has been made for the overall estimation in sales volume during Dussera-Diwali-Christmas-New Year season, which is the peak festive season in India for retail industry.
As per the observations made by Assocham, a typical middle class consumer will spend anything between Rs 10,000 and Rs 25,000 on various shopping across different niches. If we talk specifically, then average amount spent on mobile phones would be between Rs 15,000 to Rs 35,000, which is up from Rs 10,000 to Rs 15,000 as observed in the last 6 months.
An average consumer from urban location is expected to spend Rs 15,000 to Rs 25,000 on purchasing home appliances and electronics items this festive season.
Overall, a typical consumer this festive season will spend 20% more on groceries, 52% more on budget apparels & 32% more on lifestyle products using various modes of shopping which includes ecommerce.
Bengal, Maharashtra Leading The Way
As per the research done by Assocham, consumers in West Bengal, Maharashtra and Gujarat have shown maximum interest in spending more money during the festive season. Cities like Kolkata, Mumbai, Ahmedabad, Pune, Surat etc are expecting record sales of consumer items in the coming days.
However, the festive season fever is yet to catch on with consumers based in New Delhi, UP, Punjab as they are still waiting for better offers. Sales havent yet picked up during Dussera period, which is in contrast to heavy sales witnessed in Gujarat and Maharashtra during Navratris.
Massive Sales From Rural Areas Recorded
Assocham has said that rural areas are witnessing record sales this festive season, as demand for automobiles, jewelry and lifestyle products is at a all time high.
As per the report, good monsoon has directly influenced the shopping patterns of rural consumers, as they are heavily shopping via both both online and offline modes.
Passenger cars, two-wheelers, jewelry items, clothes, mobile phones and home appliances were top selling categories from rural areas.
The survey noted that women will spend more on clothes while men would be inclined to spend more on electronics and lifestyle products.
The research by Assocham was conducted across two categories of shoppers from urban and rural areas: Age group 24-34 and 35-45, across Delhi-NCR, Mumbai, Kolkata, Bangalore, Chennai, Ahmedabad, Chandigarh, Lucknow and Indore.