No sparkle for apparel retail this Diwali
By FashionUnited
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Retailers saw
To attract footfalls during Diwali, retailers like Big Bazaar and Shopper Stop kicked off their festive promotions almost five weeks prior to the festival. While Big Bazaar expected the early campaigning to bring in 25 per cent higher sales, Shoppers Stop’s ‘choose your own gift’ programme for its
two million plus loyalty customers extended the validity of
this initiative to 90 days this time.
But given the general trend in the market, the overall festive atmosphere certainly did not prove to be profitable with inflation still affecting the consumers at large. Higher prices only brought increased sales figures but volume-wise, it was a flat or even lower than last year. Many people did their purchases during the annual sale season that takes place before festival to take advantage of lower prices, followed by a crash with very little buying. Except for the South and the West, rest of the zones, especially the North showed little interest in festive buying. People in the North also begin their winter wear purchases around Diwali, but with a delay in winters and wedding season getting pushed to December end, apparel retailers are further affected by the low or no sale scenario. Retailers will have to just take a wait and watch approach till wedding and winter season showcases some momentum in their sales registers.