Apparel sales this festive season have started with good numbers as Onam and the overall sales season are expected to be higher by 10-15 per cent for the organised retail sector this year on the back of revival in consumer sentiments.
The orders that they have placed with apparel supplies have been higher compared to last year. Currently, there has been a good response in Kerala as Onam sales have been buoyant. Initial signs for Pooja sales have also been good in West Bengal thus giving some clarity on the kind of sales that is expected this festive season.
"The festive season has already started off and we have seen good sales, we expect sales to see a double digit growth this festive season,” said Kishore Biyani, chief executive officer of Future Group.
Last year, apparel sales during the festive season were tepid on poor consumer sentiments. Last year, the growth in sales was only in single digits.
"This year, the sales post the sales season has also been good indicating that sales have generally picked up which was not the case earlier. This year sales are expected to be higher than last year by 10 to 15 per cent,” said Mitesh Shah, vice president, (finance and corporate) of Mandhana Industries.
Earlier, retailers faced a problem with sales due to the whole economic slowdown and consumers would only shop during the sales period which pushed retailers to offer huge discounts and extend their sales period as well.
But, this time retailers say that the sales have been better even post the sales season.
Retailers have already finished buying from suppliers and already sitting in retailers warehouses and are expected to hit the shops in the next few weeks.
"In the south we have already witnessed good sales and this year we are expecting sales to see a double digit growth and expect it to be higher compared to last year. Last year we witnessed we witnessed good sales in the third quarter,” said Govind Shirkhande, CEO of Shoppers Stop.
The branded market of apparel compromises of around 30 to 40 per cent of the whole apparel retail market in India.
"I expect sales to be higher by 12 to 15 per cent compared to last year as retailers have already collected their orders and it is on the higher side compared to last year. There has also been an uptrend in consumer sentiments this year,” said Rahul Mehta, president of Clothing Manufacturers Association of India.