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Diwali Shopping: As the country is preparing to celebrate the festival of lights, an atmosphere of happiness, enthusiasm and excitement has returned in the markets across India. The market remains buzzing on this festival because almost every household makes festival purchases, even if it is only worth Rs 500. Recently, the Confederation of All India Traders has estimated the sales of Diwali festival this year to be Rs 4.75 lakh crore, which could be the highest sales of this decade.
While on one hand crores of families are making purchases worth Rs 500 or less on Diwali, on the other hand lakhs of consumers are spending thousands and lakhs of rupees. This diversity makes Diwali season the most important time for the retail business of the country.
This thing is bought the most on Diwali
According to CAT, the expenditure in various sectors on Diwali this year has been estimated which is quite interesting. This tells us how much money people will spend on what this time. According to CAT, maximum 13 percent of the money will be spent on purchasing food items and groceries. Whereas 3 percent on fruits and dry fruits, 4 percent on sweets and namkeen, 12 percent on textiles and apparel, 4 percent on electrical goods, 8 percent on electronic products, 3 percent builders hardware, 3 percent home decor, 6 percent cosmetics and personal care, 3 percent utensils and kitchenware, 3 percent puja material, 2 percent confectionery and bakery products, 4 percent furnishing and furniture, 8 percent Gift items and 24 per cent will be spent on miscellaneous goods and services including automobiles, toys, packaging, stationery, travel etc.
Khandelwal said that there is increased demand for indigenous products in the markets, which reflects a self-reliant India. Traders across the country have said that this time consumers are giving preference to indigenous products instead of foreign goods. The impact of Diwali celebrations is not limited to business only. Due to thousands of programs, ceremonies and events taking place across the country, hotels, restaurants, banquet halls, catering, event management, taxi services, decorators, musicians and artists are also getting work and business on a large scale.
In such a situation, the figures are showing that most of the money will be spent on food items and clothes as per the old tradition.
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