Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

Mumbai, <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword>'s gold demand witnessed on-year decline of 3 per cent at 747.5 tonnes in 2023, and going ahead the spurt in demand could be anywhere between 800-900 tonnes, if prices hold out and are not significantly volatile, the <keyword id="20195223" type="General" weightage="20" keywordseo="world-gold-council" source="keywords">World Gold Council</keyword> said in a report. The country's total gold demand stood at 774.1 tonnes in 2022, according to the World Gold Council (<keyword id="20256712" type="General" weightage="20" keywordseo="wgc" source="keywords">WGC</keyword>) Gold Demand Trends report 2023. "India's gold demand in 2023 declined by 3 per cent to 747.5 tonnes, strongly influenced by rising gold prices. Although consumer interest remained high, it lagged trade sentiment. October's price correction during <keyword id="20023931" type="General" weightage="20" keywordseo="navratri" source="keywords">Navratri</keyword> stimulated a robust consumer response, boosting Diwali sales in November. "However, demand declined in December as gold prices resumed an upward trend, resulting in a 9 per cent drop in fourth quarter jewellery demand compared to the same period of 2022," <keyword id="20399154" type="General" weightage="20" keywordseo="wgc-regional" source="keywords">WGC Regional</keyword> CEO, India, Somasundaram PR told PTI. Price of gold was volatile throughout 2023, with the yellow metal reaching a new high of Rs 61,845 per 10 gm on May 4 in the domestic market and USD 2,083 an ounce in global markets, and this trend continued with the precious metal reaching another high of Rs 61,914 per 10 grams in November 16. Looking forward to 2024, India's gold demand should benefit from ongoing positive economic conditions and if the prices hold out are not significantly volatile there is likely to be a big spurt in demand which could be anywhere between 800-900 tonnes, he said. "The subdued demand range of 700-800 tonnes since 2019 attributable to continuous rise in prices, increase in duties, stock market outperformance, near-term elections spending impact and acceptance of elevated price levels, suggest the potential for a spurt in demand in the near future. However, any short-term impediments to higher demand could arise from another round of sharp price hikes and volatility triggered by global factors," he added. The total jewellery demand in India dropped by 6 per cent to 562.3 tonnes in 2023, compared to 600.6 tonnes in the previous year, the report stated. Meanwhile, the total gold investment demand in the country grew by 7 per cent to 185.2 tonnes, compared to 173.6 tonnes in the previous year, the WGC report said. "Bar and coin investment in India rebounded, growing by 7 per cent to 185 tonnes year-on-year. The fourth quarter demand touched 67 tonnes, 64 per cent above the five-year quarterly average. "The correction in gold prices led to some robust investment responses in third and fourth quarters, supported by increased interest from physically backed gold ETF investors, setting total holdings in Indian-listed products to a record 42 tonnes by year-end," Somasundaram said. He said that recycling was 20 per cent higher due to low and supportive higher prices but at 117 tonnes, could be considered the normative expected level. Total gold imported to India in 2023 was 780.7 tonnes, up by 20 per cent compared to 650.7 tonnes in 2022, according to the report. "Net gold imports surged by 20 per cent to 780.7 tonnes in 2023, primarily due to substantial inventory building by the trade. "In 2024, gold imports are likely to be higher than the demand. The various Free Trade Agreements (FTAs) India has inked with many countries are expected to boost gold imports further this year," noted Somasundaram.

India's gold demand dips 3% in 2023 on high prices: World Gold Council

<ul><li>As many as 12,602 housing units were registered in Mumbai between Navratri until Bhai Dooj.</li><li>The festive fervour has made the state exchequer richer by ₹1,257 crore.</li><li>Approximately 40% of residential units are sold during the last quarter of the year, say experts. </li></ul>India’s consumption story is a tale of two Indias. Even as consumer companies are battling a slowdown, demand for real estate has not cooled despite rising interest rates. It’s been a great festival season for Mumbai’s real estate developers, which is one of the most expensive real estate markets in the world. As many as 12,602 units were registered between Navratri until Bhai Dooj – that’s October 15-November 15, 2023. It represents a 30% growth over last year’s festival period, as per <keyword id="151748" type="General" weightage="50" keywordseo="knight-frank-india" source="Orion">Knight Frank India</keyword>. Thanks to as many as 407 units being registered per day, the festive fervour has made the state exchequer richer by ₹1,257 crore. “Mumbai city embraced the auspicious festive period with a remarkable surge in property registrations, reflecting a heightened commitment to high-value investments. As the festive season continues, registration volumes are expected to remain robust, fuelled by favourable market conditions, including moderately increasing property prices and stable policy interest rates,” said Shishir Baijal, Chairman &amp; Managing Director, Knight Frank India. The surge was much expected due to a combination of factors like stable interest rates and the growing love for more spaces. Most experts have been betting on the real estate sector’s prospects this year. They also hope that 2023 as a whole will surpass 2022’s home sales. Moreso, the festive season is key for most developers because a large chunk of home sales take place during the period. “Approximately 40% of residential units sold annually close during the last quarter of the year. According to industry estimates, house sales in 2023 will likely be 20–30% higher than in 2022, given the current holiday season and the fact that sales are already approaching 2022 levels,” said Manju Yagnik, VC of Nahar Group. Anshuman Magazine, Chairman &amp; CEO - India, South-East Asia, Middle East &amp; Africa, CBRE also said that he expects the festive season sales to boost the momentum already seen through 2023. Developers too have been offering schemes and incentives to lure in buyers, especially first-time buyers. “As the residential cycle matures amidst inflationary pressures, we have witnessed increasing demand in the mid-end and premium categories. Conversely, the premium and luxury segment is expected to emerge as a sought-after investment avenue, particularly for HNIs and NRIs seeking to safeguard their investments amid global macroeconomic uncertainties,” said Magazine.

Mumbai property registrations jump 30% during festive season compared to last year

<ul><li>Overall <keyword id="46211" type="General" weightage="90" keywordseo="auto-sales" source="Orion">auto sales</keyword> decline 12.6% year-on-year in October, but sales surpass highs of 2017 <keyword id="48284" type="General" weightage="50" keywordseo="navratri" source="Orion">Navratri</keyword> by 18% in 2023, shows <keyword id="354719" type="General" weightage="80" keywordseo="fada" source="Orion">FADA</keyword> data.</li><li>The <keyword id="163191" type="General" weightage="60" keywordseo="two-wheeler-sales" source="Orion">two-wheeler sales</keyword> are up 15% in the same period. Strong rural demand and higher liquidity during elections to support demand in coming months.</li><li>The commercial vehicle segment experienced robust bookings and a positive uptake in retail sales, buoyed by festive cheer and strategic price support.</li></ul>Retail auto sales in October grew by a healthy 13% month-on-month but declined 12.6% year-on-year, according to data released by the Federation of Automobile Dealers Associations. Even though a like to like comparison is not correct as the first half of the month of October fell during the inauspicious Sharddh period. However, auto sales during the Navratri of 2023 have surpassed the peak sales seen during 2017 by 18%. While bookings portray a healthy trend, FADA has expressed concerns about the build up of inventory in the passenger vehicle segment, which now stands between 63-66 days. Commenting on October retail sales data, FADA President, Manish Raj Singhania, said: "The month commenced under the shadow of the inauspicious Shraddh period, persisting until the 14th. Consequently, a YoY comparison may not accurately reflect the actual trajectory of growth in the Indian Auto Retail sector. When compared month-on-month, auto retail sales flourished, achieving a 13% increase, with contributions from all categories. Two-wheelers, three-wheelers, passenger vehicles, tractors, and commercial vehicles expanded by 15%, 2%, 7%, 15%, and 10%, respectively, underscoring the sector's robust growth momentum.” The road ahead may be a tad slippery for passenger vehicles. A survey done by the industry association shows that the passenger vehicle segment is going through a tricky phase. While there may be a spike of bookings during the festive days, the shadow of year-end discounts looms over immediate sales. High inventory levels in PVs, at a critical 63-66 days range, demand urgent attention from OEMs. <div type="image" title="FADA Oct" msid="105005299" hostid="261" sizebytes="68292" caption="&amp;lt;p&amp;gt;&amp;lt;em&amp;gt;Data from F&amp;lt;/em&amp;gt;ADA October report&amp;lt;/p&amp;gt;"></div> The association has said that without substantial interventions and if Diwali sales don't rise to the occasion, the weight of unsold stock could lead to significant dealer distress, echoing FADA's concerns for potential industry-wide repercussions. Immediate and decisive action is imperative to counter the risk of a financial squeeze as the year closes. Despite the concerns expressed by dealers across India, the month of October has shown some positive signs. The two-wheeler category during the Navratri period holds promise as sales were buoyed by festive cheer and stronger rural demand. Enhanced availability of models, especially those in high demand from the previous year, along with better financial schemes, contributed to a solid market momentum. States going into elections also injected optimism into the market, leading to an increase in government spending and improved liquidity. Despite a shift in festival dates, with Diwali moving to November, the anticipation of the festive season stimulated purchase intent and dealers reported good stock preparation and robust ground efforts that led to an uptick in sales figures, showcasing a resilient and adaptive market. The 3W segment continued the uptick in demand during Navratri, largely driven by competitive finance options and a significant rise in e-Rickshaw interest, signalling a healthy move towards electrification. October continued this positive trend with robust market sentiments and festive celebrations contributing to increased customer bookings. The commercial vehicle segment experienced robust bookings and a positive uptake in retail sales, buoyed by festive cheer and strategic price support from manufacturers. The demand for light and small commercial vehicles surged, driven by infrastructure development activities and the need for vehicle replacement. Healthy demand was witnessed especially in segments like cement, iron ore and coal transport. The festive seasons, including Navratri, catalysed market activity, with customers taking advantage of favourable finance schemes. The PV segment navigated a complex landscape, marked by both enthusiasm and caution. During Navratri, despite regional variability, the industry witnessed a surge in bookings, buoyed by the introduction of compelling new models, particularly SUVs and the availability of attractive consumer offers. However, the impact of local elections and market saturation meant that the festive spirit didn't translate uniformly into sales across all regions. Throughout the month, the anticipation for Diwali in November and the launch of new models generated a steady demand. The period overall saw a resilient PV market, supported by a stronger product line-up unlike last year, when stock availability was a major issue."

Retail auto sales up 13% MoM in October, but high inventory levels in PV a concern

<ul><li>This year’s initial <keyword id="19894908" type="General" weightage="20" keywordseo="festive-season" source="keywords">festive season</keyword> has been good for smartphone makers, with an 11% increase in sales.</li><li><keyword id="19897758" type="General" weightage="20" keywordseo="Samsung" source="keywords" meta.keywordsubtype="org" meta.entityname="Samsung" meta.hostid="261" meta.entityid="Samsung">Samsung</keyword> has emerged as the biggest smartphone maker in the first phase, followed by <keyword id="19894961" type="General" weightage="20" keywordseo="Apple" source="keywords" meta.keywordsubtype="org" meta.entityname="Apple" meta.hostid="261" meta.entityid="Apple">Apple</keyword>.</li><li>Samsung recorded a 20% market share in the first phase, followed by Apple with a 16% market share.</li></ul>The festive season is here and e-commerce platforms Amazon, Flipkart and others have started their festive sales, offering devices such as smartphones at a discounted price. According to a report by Tech Insights, <keyword id="21017681" type="General" weightage="20" keywordseo="smartphone-sales" source="keywords">smartphone sales</keyword> recorded an 11% growth in the first wave of the festive season sales in India between September 26 to October 6. Among the smartphone makers, Samsung topped the chart with a 20% market share in volume terms during the first phase. "Samsung led the smartphone sales volume with a 20% market share followed by Apple in the first wave of the festive season," Tech Insight said in a blog. Apple is also gaining speed in the Indian market, with over 10 lakh iPhones being sold during the 11-day sale period. The top-selling models for Samsung include the Samsung Galaxy M35, Galaxy S23, Galaxy A14, Galaxy S23 FE and more. "Samsung was also the main sponsor for sales events on Flipkart and Amazon which also gave it an additional push. Samsung sales in unit terms grew 17% year-on-year in 2024's first wave compared to 2023's first wave," the blog said. The platform estimates that online sales volume accounted for 78% of the total sales during the phase 1 period. It was driven by online sales festivals like Big Billion Days on Flipkart and The Great Indian Festival on Amazon India while offline sales started to pick momentum with the start of Navratri. Apple was a surprising second with a 16% market share driven by strong sales of the iPhone 15 which crossed a million mark in 11 days of sales. iPhone 13 followed but the sales gap between iPhone 15 and 13 was significant. Oppo, OnePlus, Xiaomi, and Realme were also among the top vendors in the first wave of the festive season by volume. "North region sales were less compared to other region sales due to the importance of Shradh in this region. Also, states like West Bengal and Gujrat experienced better sales compared to other regions given the preparation for the popular Durga Pooja festival in these states," the blog said. With inputs from agencies. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/byd-emax-7-electric-mpv-launched-in-india-starting-at-26-9-lakh/slidelist/114046121.cms">BYD eMax 7 electric MPV launched in India starting at ₹26.9 lakh</a> <a href="https://www.businessinsider.in/personal-finance/news/heres-how-a-reddit-user-was-able-to-get-an-iphone-16-at-under-27000/articleshow/114035179.cms">Here’s how a Reddit user was able to get an iPhone 16 at under ₹27,000</a> <a href="https://www.businessinsider.in/stock-market/news/hyundai-swiggy-ather-upcoming-large-ipos-in-india/slidelist/114014140.cms">Hyundai To Swiggy: Everyone wants to cash in on the IPO bonanza</a>

Samsung leads the first phase of festive sales with a 20% market share

<ul><li>In the <keyword id="2712247" type="General" weightage="20" keywordseo="two-wheeler-segment" source="Orion">two wheeler segment</keyword>, positive growth was observed, but uncertain consumer sentiment impacted conversion rates and heightened competition among key players. </li><li>In the passenger vehicle segment, persistent supply chain bottlenecks, particularly in meeting delivery deadlines, remain a concern. </li><li>The onset of the festive season, starting with Onam, has boosted market sentiment, enhanced liquidity, and alleviated supply chain issues in all vehicle categories. </li></ul>Ahead of the festive season, retail sales of automobiles in August grew by 9% year-on-year (Y-o-Y). While this growth was slightly lower than what was reported earlier, it was steady across various vehicle categories, shows data released in the August 2023 by the <keyword id="610395" type="General" weightage="20" keywordseo="federation-of-automobile-dealers-association" source="Orion">Federation of Automobile Dealers Association</keyword> (<keyword id="354719" type="General" weightage="20" keywordseo="fada" source="Orion">FADA</keyword>). Two-wheelers (2W) sales grew by 6%, passenger vehicles (PV) saw a 6.5% rise, commercial vehicles (CV) went up by 3%. In what is a weakness in rural demand, there was an increase of 14% in sales of tractors. Sequentially, the industry registered a 3% growth in total auto sales, even as the tractor segment saw a 19% contraction. <cmsannotation type="cmsannotation" annotationid="2W market remains stable, while supply chain bottlenecks remain the in the PV segment" comment="subhead" text="2W market remains stable, while supply chain bottlenecks remain the in the PV segment">2W market remains stable, while supply chain bottlenecks remain the in the PV segment</cmsannotation> In the two-wheeler sector, the market displayed stability despite mixed conditions. Positive growth was observed, but uncertain consumer sentiment impacted conversion rates and heightened competition among key players. In the passenger vehicle arena, increased vehicle supply and expanded customer incentives maintained positive market dynamics. However, persistent supply chain bottlenecks, particularly in meeting delivery deadlines, remain a concern. The market responded positively to new hybrid and CNG models, but a limited product range in popular segments, such as mid-size SUVs, has limited overall potential. The commercial vehicle industry displayed a mixed scenario. Despite challenges such as slow freight transport, sectors like cement, iron ore, and coal saw strong demand. With the upcoming festive season, signs of a market recovery are becoming apparent. This resurgence is supported by focused supply management and an uptick in travel-related sales. <cmsannotation type="cmsannotation" annotationid="Outlook remains cautiously optimistic, but a bad monsoon can limit sales growth" comment="subhead" text="Outlook remains cautiously optimistic, but a bad monsoon can limit sales growth">Outlook remains cautiously optimistic, but a bad monsoon can limit sales growth</cmsannotation> With the onset of the festive season in September, the outlook remains cautiously optimistic, influenced by various factors affecting different industry segments. The onset of the festive season, starting with Onam, has boosted market sentiment, enhanced liquidity, and alleviated supply chain issues in all vehicle categories. In the two-wheeler sector, a wider range of models is available, but subdued rural demand due to insufficient rainfall may limit sales growth. For commercial vehicles, bulk transactions and the favourable timing coinciding with the September construction season contribute to optimism, with the real sales boost expected during Navratri and Deepavali after the Shraadh period. In the passenger vehicle market, new product launches and improved stock availability are positive signs, though high customer discount expectations and Shraadh period impacts may pose challenges. Rural demand, stagnant for a while, is showing signs of recovery, but its sustainability hinges on the final monsoon phase's performance. Inadequate rainfall could trigger inflation, impacting consumer purchasing power and demand, affecting crop yields and subsequent sowing seasons. These potential challenges align with India's peak festive season, particularly Navratri and Deepawali, traditionally marked by heightened consumer activity.

Retail automobile sales grow 9% in August, dealers maintain cautious optimism for festive season

<ul><li>Improved customer sentiment and competitive pricing are expected to play crucial roles in driving vehicle sales. </li><li>The two-wheeler segment has seen a demand boost, especially in rural areas, thanks to attractive promotions. </li><li>The <keyword id="762866" type="General" weightage="20" keywordseo="passenger-vehicle" source="Orion">passenger vehicle</keyword> (PV) category has enjoyed a resurgence with improved vehicle availability and the introduction of new models. </li></ul>As the festive season is upon us, there is a sense of eager anticipation and excitement that is sweeping through the automotive industry. In the two-wheeler (2W) segment, while the initial part of the month might be relatively quiet due to the observance of the Shraddh period, upcoming festivals like Durga Puja and Navratri are poised to inject a renewed energy into the sales environment, as per Vehicle Retail Data for Sep 2023 released by the Federation of Automobile Dealers Associations (FADA). The uptick in demand is supported by improved customer sentiment and competitive pricing strategies, both of which are expected to play a crucial role in driving sales. Additionally, the introduction of new models into the market is set to further enhance the overall optimism. In the passenger vehicle (PV) sector, the market is also poised to witness a sales boost during the festive season. This is fueled by the launch of new products, improved availability of popular models, and the continued success of recently introduced vehicles. Similarly, in the <keyword id="47608" type="General" weightage="20" keywordseo="commercial-vehicle" source="Orion">commercial vehicle</keyword> (CV) sector, the conclusion of the monsoon season brings with it the prospect of a resurgence in infrastructure projects and the transportation of essential goods. This anticipated increase in demand is expected to strengthen the market. The availability of a wider range of vehicles and attractive financing options is likely to facilitate bulk purchases, adding to the positive outlook in this segment. <cmsannotation type="cmsannotation" annotationid="Growth recorded across segments" comment="Subhead" text="Growth recorded across segments">Growth recorded across segments</cmsannotation> Analysing the data when compared to the same period a year before, one sees broad-based growth across segments – In September, 2W sales increased by 22%, 3W surged by 49%, PV grew by 19%, and CV by 5%. Tractors sales, however, declined by -10%. Compared to pre-COVID benchmarks, the sector achieved a robust 14% increase, with the 2W category recording positive growth (2%) for the first time. Says Manish Raj Singhania, president, FADA, "September's Auto Retail celebrated a 20% year-on- year (Y-o-Y) leap, continuing the momentum from the previous month while marking a 3.5% month-on-month (M-o-M) increase, seamlessly transitioning into the festive period’s sweet spot set to unfold over the next 42 days.” <cmsannotation type="cmsannotation" annotationid="Two wheeler sales hit record high" comment="Subhead" text="Two wheeler sales hit record high">Two wheeler sales hit record high</cmsannotation> Three-wheeler sales hit a new high in September, reaching 102,426 units, showing a 49% Y-o-Y and 3% M-o-M increase, surpassing the previous record set in August 2023 at 99,907 units. The two-wheeler (2W) sector saw a boost in demand as the festive season approached, thanks to new models and attractive promotions, especially in rural areas. This led to increased customer traffic and positive market sentiment, supported by better stock availability and the successful launch of entry-level products. The passenger vehicle (PV) category enjoyed a resurgence with improved vehicle availability and the introduction of new models. There was consistent demand for luxury cars and SUVs, supported by pending bookings and promising product launches, setting the stage for potential growth in the upcoming festive season. In September 2023, the commercial vehicle (CV) segment remained strong, driven by demand in coal, cement, and general market load sectors. The passenger carrier segment also experienced growth, attributed to government infrastructure investments and improved market sentiment post-COVID-19.

With monsoon worries gone, auto sector bets on stellar festive revival

<ul><li>The festive season will give a further fillip to the real estate sector that’s been on an upswing all year, say experts.</li><li>Most developers expect this year’s festive sales to be anywhere between 10-20% higher than last year.</li><li>More large-sized projects were launched by developers to gain from the festive mood. </li></ul>Indian real estate players are witnessing bumper festive season sales, with new launches, offers and more. The auspicious festive season generally sees almost a quarter of annual home sales. And, it seems to have gotten off to a good start. According to <keyword id="6363605" type="General" weightage="20" keywordseo="knight-frank" source="Orion">Knight Frank</keyword>, the property registrations in the first nine days of Navratri were 37% higher than the last year in Mumbai with 4,594 registrations. Experts expect all the top seven metro cities to see a strong sales growth in the season that extends through mid-October to mid-December. The consumer sentiment has already been strong this year. The first nine months of 2023, home sales touched 91% of 2022 annual sales across the top seven cities. This is the highest it has been since 2008, according to JLL. “With sales volumes holding strong so far this year, moderately increasing property price and stable policy interest rate would serve as the key catalysts for the housing market for the remainder of this year,” said Shishir Baijal, CMD of Knight Frank India. Developers already witnessing a surge Real estate developers have been looking forward to the festive season to hit top gear in sales. Ramani Sastri, CMD of Sterling Developers said that they are expecting a significant growth this year. “As we approach the festive season, we are already witnessing a surge in inquiries and we are expecting around 20% growth compared to last year’s festive season,” he added. Lincoln Bennet Rodrigues, chairman &amp; founder of The Bennet &amp; Bernard Company said that there is an over 8-10% increase in the number of properties being purchased or booked. “During this time of the year, 30-40% of our annual sales occur. Needless to say, as a developer, we are looking forward to the upcoming festive days,” he added. To gain from the sentiment, developers have stepped up on new launches too. As per Anarock Research, as many as 711 residential projects comprising approximately 1.16 lakh units were launched across the top seven cities in Q3 2023. In the same period last year, 701 projects were launched comprising 93,290 units. “While the difference between the number of projects launched in both the periods was not very significant, the number of units launched in Q3 2023 was at least 24% more than Q3 2022. Thus, the underlying trend is that this year in Q3 2023, many large-size projects were launched,” Anuj Puri, chairman of Anarock Group told Business Insider India. More launches with schemes The festive quarter is expected to see even more launches. Last year, during the festive quarter of October to December (Q4 2022) as many as 93,000 units were launched across the top seven cities. “This year, we may see at least 10-15% yearly growth which means it will again be above one lakh units,” said Puri. Most developers are also sweetening the pot with schemes, incentives and discounting to push more sales for the festivals. “These promotional offers encompass free <keyword id="666493" type="General" weightage="20" keywordseo="modular-kitchens" source="Orion">modular kitchens</keyword>, furniture, flexible payment plans, GST and stamp duty waivers, as well as giveaways like gold coins, cars, and even international trips,” says Swapnil Anil, executive director &amp; head of advisory at Colliers India. Banks too are upping their ante with Low EMI Schemes, Fixed EMI Schemes, and Attractive Interest Rates and more say experts. The real estate sector has been on an upswing since the pandemic and festive period has re-energised it, with people willing to buy or upgrade their homes. Unlike other sectors, where the post-pandemic boom effects are fading away, the property market is only going from strength to strength. SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/mamaearth-this-fmcg-scion-is-all-set-to-gain-a-windfall-from-honasa-ipo/articleshow/104721052.cms">This FMCG scion is all set to gain a windfall from Honasa Consumer IPO</a> <a href="https://www.businessinsider.in/careers/news/genzs-millennials-wants-to-be-back-to-offices-even-as-costs-pinch/articleshow/104700780.cms">GenZs, millennials want to be back to offices even as costs pinch</a>

With large project launches and offers, realty players get set for a bumper festive season

<ul><li>Around 140 million shoppers are expected to be transacting online at least once this festive month, says Redseer.</li><li>Sales are expected to come from high-margin businesses like beauty &amp; personal care, home &amp; general merchandise, along with fashion.</li><li>D2C brands are expected to grow 1.6 times faster than the broader market. </li></ul>Indian <keyword id="811198" type="General" weightage="20" keywordseo="e-tailing" source="Orion">e-tailing</keyword> or e-retailing has a lot to celebrate this season — if Redseer <keyword id="9903214" type="General" weightage="80" keywordseo="strategy-consultants" source="Orion">Strategy Consultants</keyword> are to be believed, 2023’s festive season sales will rake in approximately ₹90,000 crore in gross merchandise value (GMV). That’s 18-20% more than what was sold last year. “This growth will be driven by about 140 million shoppers who are expected to be transacting online at least once during this festive month,” said the report. India’s festive season kicks off next with Vinayaka Chaturthi celebrations that last nine days, followed by Navratris and extends all the way to November with Diwali. Persistent premiumisation The sales this year are also expected to come from high-margin businesses like beauty &amp; personal care (BPC), home &amp; general merchandise and fashion etc. There will be persistent premiumisation leading to rising average selling prices. Increasing ads and promotion revenues will possibly make this year’s festive season the most efficient from a margin perspective, the report added. “Over the last several quarters, we are seeing enhanced GMV contributions from categories beyond electronics. While electronics sell a lot in the festive period, looking at the bigger picture and comparing the festive sale periods over the last several years, there is a clear trend of category diversification,” said Mrigank Gutgutia, partner at Redseer Strategy Consultants. The willingness of consumers to purchase ‘multiple categories’ online also bodes well for the sector. D2C to zoom ahead The expected boom in sales is also expected to bring in moolah for D2C brands in addition to traditional retailers. The consultancy firm expects these brands to grow 1.6 times faster than the broader eTailing market. Metros have been growing faster at 10% for the last few quarters; and Tier 1 and Tier 2+ towns are growing at around 8%. But this festive season, the growth might be robust for both, it expects. On an overall basis, the consumption trends are also improving, claims the consultancy firm. The annual growth rate of Private Final Consumption Expenditure (PFCE) has bounced back to 9% – which was around what it was before the pandemic. Over the last few years, there has been flux in the market due to Covid-19 pandemic and other shocks like the Russia-Ukraine conflict. But these trends are also reversing. “Interest rates are maxing out, countries aiming to resolve the Russia Ukraine conflict, and the Indian economic growth numbers are coming in strong. So, there are meaningful tailwinds to support a relatively strong festive period this year,” the report added. Moreso, the total annual GMV for 2023 is expected to be around ₹5,25,000 crore, as the number of transacting users have jumped 15 times over the number in 2014.

You Searched For "Navratri 2023" and got 8 results

India's gold demand dips 3% in 2023 on high prices: World Gold Council

PTI

Mumbai property registrations jump 30% during festive season compared to last year

BI India Bureau

Retail auto sales up 13% MoM in October, but high inventory levels in PV a concern

BI India Bureau

Samsung leads the first phase of festive sales with a 20% market share

Sourabh Jain

Retail automobile sales grow 9% in August, dealers maintain cautious optimism for festive season

Anagh Pal

With monsoon worries gone, auto sector bets on stellar festive revival

With large project launches and offers, realty players get set for a bumper festive season

Katya Naidu

Festive boost: Online sales may see a 20% jump as Ganapati kicks off celebrations

Katya Naidu

Popular Keywords

Buying Guides