New Delhi: The festive season is round the corner and we are ready to enjoy the celebrations aftermath of covid lockdown. Last year the consumer durables industry witnessed a revival in sales during the festive season as markets had largely opened up post the second wave of the pandemic.
According to the survey by LocalCircles, Spending in the festival season in 2022 could hit $32 billion as indians ready for restriction-free festivals.
According to the survey, Fast-moving consumer goods (FMCG), consumer durables and e-commerce companies see strong sales this festival season as the impact of the Covid-19 pandemic wanes. As per the survey, while consumers spend will surpass levels seen in 2021.
Indian consumers will largely spend money on Diwali supplies, groceries and home renovation items, a survey by LocalCircles has found. One in three Indian households plan to spend an estimated ₹10,000 this festive season, with footfalls in stores and markets set to jump by 20%.
LocalCircles received over 58,000 responses from consumers located in 362 districts of India for its survey. Over 60% respondents were men while 36% respondents were women. Meanwhile, 44% respondents were from tier 1, 33% from tier 2 and 23% respondents were from tier 3, 4 and rural districts.
Findings of the survey reveal that 35% of households plan to spend on Diwali supplies and 26% are planning to spend on festive groceries while 13% plan to buy home renovation products. In fact, 6% of households plan to buy white goods and appliances, while 6% intend to spend on smartphones and consumer electronics. Some 4% are likely to buy jewellery. Spending on services could also see a boost with home repair and travel projected to be top categories of spends.
Consumers are likely to open their wallets after two seasons of muted festive celebrations. However, high inflation has brought in some caution, especially in middle-income households.
---Advertisement---
Business
Diwali festive sale hits $32bn , breaks last year record: Survey
New Delhi: The festive season is round the corner and we are ready to enjoy the celebrations aftermath of covid lockdown. Last year the consumer durables industry witnessed a revival in sales during the festive season as markets had largely opened up post the second wave of the pandemic. According to the survey by LocalCircles, […]
---Advertisement---
Get Breaking News First and Latest Updates from India and around the world on News24. Follow News24 on Facebook, Twitter.
Related Story
Live News
---Advertisement---
live
Latest LIVE News Trending Today, Real Time Updates: Rekha Gupta Elected As Delhi BJP Legislative Party Leader, Set To Become Chief Minister
Feb 19, 2025

-
20:25 (IST) 19 Feb 2025
Rekha Gupta Elected As Delhi BJP Legislative Party Leader, Set To Become Chief Minister

SHORTS

Sports
View All Shorts
---Advertisement---
Trending
Asteroid 2024 YR4: How Likely Is The ‘City-Killer’ To Hit Earth? Chilling Animation Goes Viral | WATCH
Feb 19, 2025 02:01 PM IST
‘50,000 Reward, CCTV, Drones’: Gurugram Couple’s 104-Day Search For Lost Dog Ends In Emotional Reunion | WATCH
Feb 19, 2025 09:34 AM IST
Watch: Asiatic Lion Strolling On Gujarat Highway, Halting Traffic
Feb 18, 2025 07:55 PM IST
WATCH VIRAL VIDEO Of Students Performing Stunt In BMW, Fortuner On Hyderabad Road, Arrested
Feb 18, 2025 02:59 PM IST
Horse Inside, But No Snacks? Fan’s Horseback Stunt At Chhaava Screening Amuses Netizens
Feb 18, 2025 02:42 PM IST
Viral Video: 18 Passengers In One Auto? Shocking Video Of Police Raid In Jhansi Goes Viral!
Feb 18, 2025 12:37 PM IST
Viral Video: Delhi Is Not Safe, Says Woman After Car Full Of Men Shouted 'Oye, Idhar Aa'
Feb 17, 2025 09:31 PM IST
Viral Video: Got Prasad Before Going To Kumbh! Police Thrash Man For Breaking Train Window
Feb 17, 2025 08:16 PM IST
Railways DRM Asks Women Passengers Who Told You To Travel Without A Ticket; One Responds: ‘Narendra Modi’
Feb 17, 2025 07:01 PM IST
Delhi Earthquake Sparks a Flood of Hilarious Memes On Social Media, Checkout The BEST ones
Feb 17, 2025 04:06 PM IST