Retailers are expecting a dazzling Diwali after a gap of two years. It is due to the slowdown effect fading away and the festival falling in the first week of the month. Traders said the latter was the biggest factor that would give a major boost to festive spending. Last year sales were low as Diwali coincided with the month-end, when the middle class consumers are normally not left with much money to shop.
"This year, shopping that started from Saturday is expected to last at least for a week, thanks to favourable dates," said B C Bhartia, president of Confederation of All India Traders (CAIT). The consumers have enough money as they have just received their salary. Even state and central government departments have declared a larger bonus. Last year, the sentiment was shrouded with inflation as well as hangover of the slowdown in 2008," he said.
A number of new showrooms have opened in the last one month in city. These include Lifestyle and Pantaloon's store in Empress City mall as well as Solo, a retail store near VNIT. "The business in Nagpur is better than what is being recorded in other Tier II cities," said Arvind Pandey, business head (west zone) of Pantaloon Retail India Limited. The company expected a footfall of 20,000 in the first month but with almost 3,000 persons visiting each day, the tally is expected to be much more. The other Pantaloon store at Civil Lines has also registered a sizable business, he added.
Meanwhile, a retailer at West High Court Road was not so enthused. He said it was only a seasonal increase in the sales and no major festive spirit was seen. That would have led to an across the board increase in the sale of garments. "The offtake has only risen in niche segment," he said.
The sentiment is also relatively depressed in the hinterland, said farm activist Kishor Tiwari. The government procurement of cotton had not started so farmers are yet to get some cash. However, it is boom time for the farm labourers who got exceptional wages on account of a high demand this sowing season.
Apart from retailers, builders too are expecting a better Diwali. The bookings have gone up compared to previous festive season. It is not a mere rise in turnover because the rates going up, but there has been a tangible increase in bookings too, said a builder.
Surprisingly, automobile dealers seemed disappointed with inquiries not meeting the expectation. Nikhil Kusumgar, a Honda two-wheelers dealer, said, "it seems revival in demand six months ago saw so much purchase that consumers' appetite for big purchases is now exhausted. The downtrend was visible since Dussehra itself."
"This year, shopping that started from Saturday is expected to last at least for a week, thanks to favourable dates," said B C Bhartia, president of Confederation of All India Traders (CAIT). The consumers have enough money as they have just received their salary. Even state and central government departments have declared a larger bonus. Last year, the sentiment was shrouded with inflation as well as hangover of the slowdown in 2008," he said.
A number of new showrooms have opened in the last one month in city. These include Lifestyle and Pantaloon's store in Empress City mall as well as Solo, a retail store near VNIT. "The business in Nagpur is better than what is being recorded in other Tier II cities," said Arvind Pandey, business head (west zone) of Pantaloon Retail India Limited. The company expected a footfall of 20,000 in the first month but with almost 3,000 persons visiting each day, the tally is expected to be much more. The other Pantaloon store at Civil Lines has also registered a sizable business, he added.
Meanwhile, a retailer at West High Court Road was not so enthused. He said it was only a seasonal increase in the sales and no major festive spirit was seen. That would have led to an across the board increase in the sale of garments. "The offtake has only risen in niche segment," he said.
The sentiment is also relatively depressed in the hinterland, said farm activist Kishor Tiwari. The government procurement of cotton had not started so farmers are yet to get some cash. However, it is boom time for the farm labourers who got exceptional wages on account of a high demand this sowing season.
Apart from retailers, builders too are expecting a better Diwali. The bookings have gone up compared to previous festive season. It is not a mere rise in turnover because the rates going up, but there has been a tangible increase in bookings too, said a builder.
Surprisingly, automobile dealers seemed disappointed with inquiries not meeting the expectation. Nikhil Kusumgar, a Honda two-wheelers dealer, said, "it seems revival in demand six months ago saw so much purchase that consumers' appetite for big purchases is now exhausted. The downtrend was visible since Dussehra itself."
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