Early festive cheer, World Cup effect lift consumption

Demand for consumer goods and personal care products has picked up ahead of the peak Diwali shopping season, after clocking dull sales in the first few months of the fiscal year.

- Suneera Tandon

“The outlook is getting stronger by the day," said Nilesh Gupta, director at electronics retailer Vijay Sales. Demand is especially higher for large-screen televisions as more people prefer them to watch the ongoing cricket World Cup, Gupta added.

The retailer could end the festive season with a strong double-digit growth in sales compared with a year ago. “If India reaches the World Cup final on 19 November, we will see a mini-Diwali continuing well beyond the festival that falls on 12 November," he said. “We also lost out on summer due to unseasonal rains. Consumers seem like they are in the mood to spend," he said. Zero-interest loans and longer repayment periods have encouraged more people to purchase premium appliances.