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Pre-Diwali consumer spending up 40%: Assocham survey

| Updated on: Jan 16, 2018

Consumer demand is witnessing a growth of 40 per cent in the ongoing festival season this year compared with last year, a survey by industry chamber Assocham has said.

This sentiment is riding on the back of an uptick in the economy and improving perception for better job prospects, coupled with steady lowering of interest rates.

Good monsoon has boosted confidence among the farmers and farm labour, the survey said, adding that this has resulted in rural demand adding to the festive fervour.

“A clear pick-up can been seen in the sale of two-wheelers, jewellery and even consumer durables in rural and semi-rural areas in most parts of the country,” the survey said, adding that the demand for real estate and housing, however, remains low key.

City-wise demand

While Kolkata and other major cities in the East witnessed a spurt in Durga Puja shopping, Maharashtra and Gujarat saw a rush of shoppers during Navaratri.

“Delhi and other North Indian cities would pick up pace in the next few days in jewellery buying, apart from consumer durables,” it added.

The average amount spent on mobiles during the festival season is expected to range from ₹15,000-35,500, which is higher than ₹10,000-15,000 for the past six months.

The survey covered consumers in age groups 24-34 and 35-45 in Delhi-NCR, Mumbai, Kolkata, Bengaluru, Chennai, Ahmedabad, Chandigarh, Lucknow and Indore.

Published on October 17, 2016
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