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Sales of apparel were a mixed bag this festive season while those of consumer durables saw an uptick with mobiles, laptops, and air conditioners being in demand.
In apparel, Tier-2 and -3 markets did better for some brands, because these have been witnessing an uptick for the past 18-20 months compared to metros.
The past two weeks have been good, and we saw a 13 per cent increase in value sales, and volume sales have also been similar, Manish Kapoor, managing director (MD) and chief executive officer (CEO), Pepe Jeans
Celio: The new outlets will have a larger floor size of 200 - 300 square metres and significantly use data for curating the right merchandise assortment. Momaya said that the stores will have first-hand product displays and a self-navigating concept.
Consumers started reducing non-essential spending such as that on apparel, lifestyle products, electronics and dining out since Diwali last year due to inflation, increase in interest rates, job losses in sectors like startups and IT, and an overall slowdown in the economy.
Consumers started reducing non-essential spending such as that on apparel, lifestyle products, electronics and dining out since Diwali last year due to inflation, increase in interest rates, job losses in sectors like startups and IT, and an overall slowdown in the economy.
Retailers are offering discounts of up to 75% in an attempt to boost sales during end of season sales (EOSS). However, concerns are rising as business levels are still lower than last year. Brands such as Shoppers Stop, Reliance Trends, Lifestyle, Pantaloons, VMART, Max, and Westside have started their sales earlier this year, with a decline in revenue of 5-15% YoY.
Godrej Appliances: Most chief executives have predicted a demand revival by Diwali and, based on inventory clearance by then, indicated to manufacturers festive season orders higher than last year.
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