Having worked in Indian Retail Sector for over 18 Years, right from Vishal Megamart, Amazon, Wal-Mart, Citykart to V-Bazaar, it was always this question every year- How is Diwali this year going to be?
So Here is to why Retailers love Diwali Season (PDC- Durga Puja, Diwali, Chhath).
Indian retailers eagerly anticipate Diwali, as it’s one of the busiest and most profitable times of the year for them. Here are some of the main reasons why retailers love Diwali:
- Massive Boost in Sales: Diwali is synonymous with shopping in India, with consumers buying clothes, jewelry, electronics, home décor, and gifts. Retailers experience a significant surge in sales as people indulge in purchases for the festival, making it a peak revenue period.
- High Demand for Promotions and Discounts: Retailers capitalize on the festive mood by offering enticing discounts, deals, and special offers. These promotions attract customers and encourage them to make larger purchases, boosting retailers' overall revenue.
- Cultural Significance Fuels Traditional Purchases: Diwali is deeply rooted in tradition, so there’s a heightened demand for items like diyas, lights, sweets, and decorative items. Retailers see strong sales in these categories, with many even dedicating sections to festival essentials.
- Big-Ticket Purchases: Diwali is an auspicious time for buying big-ticket items, particularly electronics, appliances, and vehicles. Many retailers offer zero-interest EMI options and cashbacks, which attract consumers to make substantial purchases during this time.
- Surge in Apparel and Jewelry Sales: Diwali is a time for new clothes and jewelry, especially gold, as it is believed to bring good fortune. Apparel and jewelry retailers benefit immensely as families buy outfits for the festivities and invest in jewelry for both cultural and financial reasons.
- Increased Footfall and Online Traffic: Both physical stores and online platforms see increased footfall during Diwali. Retailers utilize this period to build their customer base, grow brand visibility, and drive sales both offline and online, often blending the two for an omnichannel experience.
- Opportunity for Brand Loyalty: Retailers offer loyalty programs, exclusive deals, and festive offers to make customers feel valued. Diwali is an excellent opportunity for retailers to deepen customer relationships, leading to higher retention rates even after the festival season.
- Rise in Corporate Gifting: Companies buy gifts in bulk for employees, clients, and partners, driving sales of sweets, gift baskets, gadgets, and luxury items. Retailers benefit from corporate sales, as these purchases add a significant revenue stream during Diwali.
- Pre-Wedding Season Demand: Diwali often precedes the wedding season in India, which further increases demand for items like clothing, jewelry, and home goods. Retailers benefit as families purchase gifts and attire for both Diwali and upcoming wedding events.
- Enhanced Shopping Experience: Retailers decorate their stores, organize festive events, and create immersive shopping experiences during Diwali, which attracts customers looking to enjoy the festive atmosphere. This seasonal ambiance encourages more in-store browsing and purchasing.
In essence, Diwali is a golden opportunity for Indian retailers to maximize sales, grow their customer base, and connect with consumers on a cultural and emotional level. The festival season not only drives high revenues but also solidifies brand loyalty, making it one of the most awaited times of the year for retailers.
-- The article represents general scenario with help from ChatGPT.com
Alok Kumar is an Active Retail Enthusiast working for one of the fastest growing Value fashion retailer.
In his free time, he is an Author (The Secret You : The 8 Known Secret Codes to Realize Your Worthy Ideal : https://amzn.eu/d/0q4QmgX),
A life coach (follow him on): Instagram
A motivational Speaker-Youtube @lifecoachalok
You can take this course on management skills to upgrade your people skills.
Store Manager at MEGA SHOP RETAIL
2 个月Agree Sir
Store Manager at V-Bazaar Retail Private Limited
4 个月It’s great articulated Sir.
Land Evaluation Development of an Industry warehouse and logistics park | OK PLAY LTD. | toybox.in| Aryan Partners | Goaldenmaze Ally|
4 个月I agree
Retail and Hospitality professional Ex, Reliance Retail, Ex,Future group
4 个月Indian retailers love Diwali because it’s a major festival that boosts consumer spending. The holiday encourages shopping for gifts, decorations, and new clothes, leading to increased sales. Additionally, festive promotions and discounts attract more customers, making it a key time for retailers to maximize profits.
Aditya Birla Fashion/Ex-Citykart/Flemingo/ Adda Trader/Arvind Lifestyle
4 个月Due to huge business during the period