According to a report in Business Standard, brick-and-mortar retailers in India are noting a 30-50 per cent jump in pre-Diwali sales despite the massive discounts and advertising push by e-commerce portals.
Rakesh Biyani, Joint Managing Director, Future Retail commented, “We’re seeing very good numbers, which are better than last year’s. Customers have realised that physical stores offer better deals than online stores,” while Vasant Kumar, Executive Director – MAX, Landmark Group’s Fashion Chain quotes a similar claim, stating, “There had been 15 per cent growth in pre-Diwali sales. We expect a 50 per cent jump in sales in the next 10 days.”
Also Read – E-commerce sales to soar this festive season: ASSOCHAM
Even malls have discovered a good growth in footfall and consumption. Pushpa Bector, Executive Vice-President and Head of Malls, DLF averred that the company expects the trading per square foot and sales to increase by 20-25 per cent. From four months of festive season, the company expects nearly Rs. 500 Crores and a total of Rs. 1,400-Crores sales. While on an average the monthly footfall is 1.3 million, during the festive season it increases to 1.8 million.
Commenting on the same, Rajendra Kalkar, President – West Region, Phoenix Mills, which owns malls in Mumbai, Pune, and Bengaluru said, “We are high-strung this Diwali. We’re expecting a minimum 30-40 per cent growth in both consumption and footfall. Last year, we saw growth of 20 per cent,” while adding that with many international fashion brands entering the country, people have a lot of options to choose from.” He also links the good monsoon and the Seventh Pay Commission as elements that will fuel growth this festive season. The per-capita customer expenditure this festive season are expected to go up substantially.
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