Domestic sales during the festive season from September onwards have been so strong that retailers and manufacturing companies are revising upwards their year-end targets. A quick market survey conducted by Ficci among dealers and retailers in select markets in the NCR region and direct feedback taken from companies show that domestic consumption, which is the backbone of the Indian economy, is again picking up.
The buoyant demand conditions are prevailing across sectors from automobiles to consumer durables to FMCG products.
Ficci’s interaction with dealers and retailers of leading automobile, consumer durable and FMCG brands shows that September 2009 saw a substantial jump in sales for products across segments. Terming September as ‘bonanza month’ many of the retailers Ficci spoke to said that while footfalls had gone up by up to 45 per cent, sales had gone up by up to 30 per cent and this trend was expected to continue in the months ahead. The ongoing festive season started with Onam then moved to Durga Puja and then to Diwali. A spurt in sales is again seen around Christmas and New Year. Many of the retailers mentioned that September to December is the peak season for them and the start seen in September this year augured well for the next few months.
There is a definite improvement in demand at the retail level and this has buoyed the sentiment prevailing among marketers and retailers, prompting them to revise upwards their year-end targets.
Source: Statesman News Service