Festive Season Sales: Economists point to an easing in inflation and a pickup in wages, especially in the rural countryside, where a majority of India’s population live. Consumer confidence reached a four-year high in September, the latest central bank figures show, while demand for bank loans is hovering near a 12-year high despite interest rate hikes this year.
The Amazon and Flipkart sales, which both commenced on October 8 this year, have thrown up some category winners. But there does not appear to be an overall winner yet.
Auto Industry Sales Festive Season: With healthy bookings, enquiries and walk-ins, the confidence is strong, however, the industry is in a wait and watch mood to witness the best-ever sales for this year.
Hero MotoCorp CEO, Niranjan Gupta, is optimistic about the upcoming festive season, stating that the company s booking and inquiry numbers are up by 20% compared to last year. Gupta expects the industry to experience double-digit growth, driven by strong brands and the addition of new models. Incentives have been extended to salespeople and technicians to boost sales, and Gupta believes that pent-up demand and a delayed festive season will further contribute to sales.