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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

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Akshara Srivastava Sharleen Dsouza Sohini Das New Delhi/ Mumbai

5 min read Last Updated : Aug 24 2023 | 11:28 PM IST

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

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