Businesses gear up to keep pace with festive demand

Revamped tax regime prompts cos to rework pricing strategies | E-comm platforms highlight price differences between old & new rates

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FRANTIC last-minute preparations on Monday marked the day for manufacturers and retailers be it of white goods, textiles, FMCG or footwear-as they rolled out the sale of goods under new GST rates. Companies were seen gearing up to align their operations to keep pace with the surge in consumer demand.

The revamped tax regime has prompted firms to rework pricing strategies, strengthen supply chains, and take measures to address growing demand during the festive season. Industry leaders see demand to accelerate. While absolute sales numbers are hard to come early, the trend indicates huge pent-up purchases were made on Monday. Consumers had postponed purchases waiting for the lower GST rates to come into effect.