Festive season retail in India - statistics & facts
Much like any holiday season, the Indian festive season is a time characterized by compassion, a vibrant celebration of culture, and exuberant consumerism. The three-month long festivities commence with the auspicious occasion of Ganesh Chaturthi in September and proceed well into October and November, the end being marked by Diwali. Gifting and shopping are essential to this period, with consumers planning to spend more each year, thus boosting the economy.
While retailers offer a wide range of products for Diwali such as gifting items, jewelry, and pooja paraphernalia, consumer electronics and apparel remain the most beloved segments for festive shopping. In the days preceding Diwali, consumer demand for gold jewelry or coins spike, marking the special occasion of Dhanteras.
Emerging festive trends include a growing emphasis on purchasing eco-friendly and sustainable products. Additionally, quick commerce is slowly gaining traction for last-minute shopping needs and delivering gifts during this period.
Meanwhile, physical stores provide an immersive shopping experience. Markets are lit up with colorful lights and decorations, creating a warm festive ambiance that online platforms cannot imitate. Furthermore, retailers offer diverse product selections, special discounts, and a personalized shopping experience. By using these strategies, offline retailers are trying to remain significant and appealing during the festive period.
In order to interact effectively with the dynamic market, retailers are simultaneously adapting to the evolving consumer preferences. Hence, the festive season reflects a fusion of tradition, consumers’ optimism, and digital transformation in the retail landscape of India.
Diwali shopping spree
Diwali or Deepavali, the festival of lights is one of the most significant Indian festivals, celebrated by families across different states and religions. It serves as a crucial period for Indian retailers in multiple sectors. Typical activities during this occasion include cleaning and decorating homes, shopping, exchanging gifts, and worshipping.While retailers offer a wide range of products for Diwali such as gifting items, jewelry, and pooja paraphernalia, consumer electronics and apparel remain the most beloved segments for festive shopping. In the days preceding Diwali, consumer demand for gold jewelry or coins spike, marking the special occasion of Dhanteras.
Emerging festive trends include a growing emphasis on purchasing eco-friendly and sustainable products. Additionally, quick commerce is slowly gaining traction for last-minute shopping needs and delivering gifts during this period.
Blending tradition: Hybrid festive shopping
As a result of consumers preferring a blend of digital and offline shopping channel for the festive season, the competition between online and offline retailers has intensified. Major e-commerce platforms offer massive discounts under the Amazon Great Indian Festival Sales and Flipkart Big Billion Days. Resulting in over one billion visitors for the event and sales growth primarily fueled by tier 2 and tier 3 cities. Convenience, extensive discounts, and multiple payment options were the leading reasons for consumers to opt for online shopping.Meanwhile, physical stores provide an immersive shopping experience. Markets are lit up with colorful lights and decorations, creating a warm festive ambiance that online platforms cannot imitate. Furthermore, retailers offer diverse product selections, special discounts, and a personalized shopping experience. By using these strategies, offline retailers are trying to remain significant and appealing during the festive period.
In order to interact effectively with the dynamic market, retailers are simultaneously adapting to the evolving consumer preferences. Hence, the festive season reflects a fusion of tradition, consumers’ optimism, and digital transformation in the retail landscape of India.
