Festive sales season ends with a bang: Car, smartphone, and white goods purchases soar 50% compared to last year
As consumers finished last-minute festive shopping on Sunday, companies selling clothes to smartphones, whitegoods and automobiles are estimating up to 50% more sales between Navratri and Diwali this year compared with last.
For auto and electronics manufactures, the growth this season has been the fastest in more than a decade.
Industry executives attributed this surge in demand to the sweeping GST reductions that came into effect on September 22, the first day of the Navratri festival, as well as income tax rate reductions that left more money in the hands of the middle-class, and discounts and promotional offers run by the manufacturers.
For auto and electronics manufactures, the growth this season has been the fastest in more than a decade.
Industry executives attributed this surge in demand to the sweeping GST reductions that came into effect on September 22, the first day of the Navratri festival, as well as income tax rate reductions that left more money in the hands of the middle-class, and discounts and promotional offers run by the manufacturers.
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