Retailers see sparkling sales this festive season
Season right from Ganesh Chaturthi till Sankranti spurs offline and online shopping spree; Retailers of fashion, retail and consumer products are buoyant as they forecast up to 50% sales growth in Hyderabad this year
image for illustrative purpose
Consumers have the buying power owing to a good pay packages, credit cards, EMI and pay later options. This has led youngsters frequently upgrading electronic gadgets. We are hoping for business to pick up during Diwali -- Nishith Shah, Director, Shah Electronics and Home Appliances, tells Bizz Buzz
Buying Binge
♦ e-commerce platforms supporting retail outlets
♦ Retailers hiring temporary staff to handle sales demand
♦ Some retailers not keen on Amazon as it charges higher commission
Hyderabad: High disposable income has fired up the festival spirit among the younger generation. The enthusiasm begins with Raksha Bandhan, cools down briefly and picks up with Ganesh Chaturthi, and ends shortly on the day of Sankranti. Festivals or any celebratory occasion is synonymous with shopping, and entrepreneurs and businesspersons are cashing on this phenomenon with innovative ideas and products in-demand.
Interestingly, business outlets are adopting what is called the click and motor business model wherein online presence brings wider visibility and sales while physical shops bring in loyal customers. With online store or e-commerce platforms supporting retail outlets, consumer products sellers in Hyderabad are looking forward to 20-50 per cent upswing in sales this festive season.
Speaking to Bizz Buzz, Nishith Shah, Director, Shah Electronics and Home Appliances Pvt Ltd, said: “Today’s consumers have the buying power owing to a good pay packages, credit cards, EMI and buy-now-pay-later options. This has led young consumers frequently upgrading electronics to a new model. During festive time, the products in demand are air conditioners, LED TVs, washing machines, micro ovens, home theatres and smartphones. We are hoping for business to pick up during Diwali, as for Dussehra, we have registered around 10 per cent increase in sales, when compared to last year. We also sell on Amazon, definitely we are seeing good sale here, but we don’t count it.”
One of the oldest consumer electronics brands in Telangana, Shah Electronics has been operational since 1971 with three stores in Hyderabad.
Festivals also ring the bell of devotion which means higher demand for puja items as well. Kiran Vemula, the owner of Sri Rudra Pooja Store, has a four-storied outlet in Hyderabad which is home to around 2,000 puja items, besides selling at other supermarkets too. On festive business, he said, “During festival season, sales will go up by up to three times. Compared to last festive season, this year, we posted 250 per cent growth. We have been able to maintain this trend due to the quality of our products. We have 50 employees working full time, but to manage the festive crowd we usually hire 50 per cent more.”
Vemula, who also sells on an e-commerce platform, said: “We see more of sales from our physical stores. Though we are present on Amazon, we do not participate much as they loot us heavily. We have buyers online, but we do not encourage online selling as at the end Amazon takes home the major share of profits.”
After the upgrade of electronics and consumer appliances, next that follow to pull-off a perfect celebration, are gifts, personal care and fashion products. Ishita Saxena, who owns Arezou, a personal care product range inspired by essential oils and aroma therapy, said, “With the onset of Dussehra, women start prepping up for the festivities, so they buy my personal care products for themselves. My aromatic candles are always in demand for gifting during Diwali, Christmas and New Year. This season I generally see a 20 per cent increase in sale across the product categories.”
This year being declared as the Year of Millet by the World Health Organisation and with the State governments promoting millets, the millet industry is witnessing rapid growth. Sudha Nallaparaju, founder of Haritha Foods, a millet-based ready-to-cook food brand, has brought out a gift box filled with millet-based Indian sweets made with natural sweeteners.
On the fashion front, retailers say sustainable apparels and products are in demand this time. One such, Hyderabad-based brand selling sustainable fashion products is Earthy Weaves founded by Swetali. She said, “There is a demand for handlooms like Pochampally and Ikkat from Telangana along with other weaves from Andhra Pradesh, Orissa, Chhattisgarh, Rajasthan, and Gujarat. The sale starts from Raksha Bandhan, but the peak is seen before Dussehra, Diwali, which carries on till Sankranti”.
