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Firms crack the Diwali code: Double-digit growth in consumer goods sales

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

consumer goods, diwali sales, festive sales, sales, slowdown, goods demand, demand, consumer goods
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While the window for durable sales was down to the Diwali weekend this year, car purchases had a longer lead time, said company executives.

Shally Seth MohileArnab Dutta Mumbai/New Delhi
Diwali has brought much-needed sparkle 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, 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 players such as HDFC Bank, ICICI Bank, and Kotak Mahindra Bank. 

“Categories such as television sets, mobile

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First Published: Oct 30 2019 | 10:41 PM IST

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