Festive sales show green shoots for consumer space

Oct 31, 2019 12:33 IST

Diwali seems to have brought some cheer to companies and retailers in an otherwise weak festival season. The crucial Dhanteras to Bhai Dooj period — stretching from Friday to Tuesday — saw automobile retail sales increase by high double digits, while consumer durable sales grew 6-8 per cent over last year. The growth was led by metro markets and large-format stores. Credit-driven sales were also high in consumer durables this Diwali, with around 70 per cent of sales in urban areas coming from finance schemes and cashbacks from private sectors players like HDFC Bank, ICICI Bank, Kotak Mahindra Bank etc.