Surge in early Diwali festive sales

  • Consumer spending on big-ticket items in conjunction with the Diwali festivities is experiencing a healthy start, with major brands and product categories seeing performance exceed last year’s equivalent period. This is attributed to recovering consumer sentiment and easing of supply chain constraints.
  • Mobile phone market tracker Counterpoint Research estimates smartphone sales volumes have already grown 4-5% this month from the year earlier. The market has expanded by over 20% in value, with premiumization (upgrading to better models) being a key driver.
  • LG India reported a shortage of large-screen televisions, despite having prepared for strong growth from last year. A spokesperson cited the combination of the festive season and cricket world cup as the reason for strong sales.
  • Car sales also have grown by 16% from an already-high base. Inventory levels at Hyundai dealers are at 20-25 days, which a spokesperson described as optimal for the upcoming festival sales.

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