Add Listing
  • You have no bookmark.

Your Wishlist : 0 listings

Sign In

What people want to buy most this Diwali, as shoppers return to market in festive season

Two in every three customers exhibit positive sentiments for shopping this Diwali for categories such as mobile phones, consumer electronics and two-wheelers.

After months of pent up demand amid the coronavirus pandemic, consumers are likely to return to the market this Diwali with demand for products in certain categories expected to be high. In fact, two in every three customers exhibit positive sentiments for shopping this Diwali for categories such as mobile phones, consumer electronics and two-wheelers, according to a report released on Tuesday. “65% of all consumers expressed a positive buying sentiment as compared to now, and 28% felt it would remain the same. The apparels category was a positive outlier and had the highest buying priority at 3.11 times the average of all other categories,” according to TRA’s Diwali 2020 Buying Propensity Report.

Other than apparels, and mobile phones, home furniture, jewellery and TVs are also on high priority, the report said. The coronavirus pandemic had a severe impact on retail as the country remained under a nationwide lockdown for two months in one of the strictest shutdowns across the world. While companies faced challenges such as supply chain disruption, lack of workforce, etc, consumers also remained skeptical of discretionary spending amid layoffs and salary cuts. 

Related News

However, as economic activities have started to resume, and with festivities around the corner, the demand may pick up soon. “Diwali has traditionally been a period of consumption boom as consumers tend to increase spends, and brands scramble to catch their attention. This Diwali will be a deciding factor for many brands, as they prepare trepidatiously for the festive season,” N. Chandramouli, CEO, TRA Research, said. Overall, coronavirus will have a detrimental impact on consumer spending this year with a 5.1% less spend expected this year as compared to last year. 

Other than high priority categories for consumers, there is a medium consumer buying propensity for items such as personal accessories, cars, laptops and kitchen appliances, while travel and home renovation remain on low priority.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Prev Post
Uttar Pradesh: 70 COVID-19 deaths in one day, worst ever
Next Post
2-in-1 solution: Raise steel usage by making low-cost homes for migrant workers, says Dharmendra Pradhan

Add Comment

Your email is safe with us.