From hatchbacks to holidays, consumers ready to loosen purse strings

Consumer goods firms expect 40-50% growth in premium segment; hospitality industry expects heightened activity in coming weeks

With Onam and Raksha Bandhan just around the corner, the festival season is ready to kick off in full swing. As people embrace the celebratory spirit, companies anticipate a surge in sales this year.
 

Consumer durables firms are expecting strong growth of 40-50 per cent in the premium segment during the upcoming season. Appliance makers also foresee increased demand for cooling appliances — refrigerators and air conditioners — which were impacted by unseasonal rainfall.
 

Kamal Nandi, business head and executive vice-president at Godrej Appliances, stated, “If Onam is an indicator, the festival season should perform well, especially in the premium