Page 10 - Festive Season

Appliances, consumer electronics sales likely to grow 20% during festivals

Buoyed by a good start with Onam in the southern markets, the appliances and consumer electronics industry expects around 18-20 per cent value-driven growth this festive season which is coinciding with the ICC Men's Cricket World Cup. The cricket World Cup tournament is coinciding with the festival season in India for the first time after 1987, and the industry expects the country's most popular sport to act as a catalyst, leading to growth in sales of TV, especially with bigger screen sizes as well as audio products such as battery-powered party speakers, soundbars, wireless headphones and ear buds. TV makers, including LG Electronic, Panasonic and Thomson, expect increased number of replacements of conventional and small-size TV screens with large-size smart TV panels above 55 inch screen size. Premium and ultra-premium ranges of QLED and OLED TVs are also expected to be in much demand during the World Cup from October 5 to November 19. The industry expects overall sales growth of

Indian consumers to spend more on luxury this festival season: Study

Increased spending on back of improved finances, says Deloitte study

Led by festival season, revenue of apparel retailers to grow 7-8% in FY24

The revenue density, calculated as revenue per square feet, is, however, expected to remain below the pre-pandemic level: CRISIL

President Droupadi Murmu greets citizens on the festival of Nuakhai

President Droupadi Murmu on Wednesday greeted citizens on the festival of Nuakhai and wished for the prosperity of the country and its people. Nuakhai is an agrarian festival where the first crop of the field is offered to the goddess in the western districts of Odisha and people seek the blessings of elders in each household. The festival is observed mostly in Sambalpur, Bargarh, Jharsuguda, Bolangir, Kalahandi, Nuapada, Nabarangpur, Deogarh and Sundergarh. "My hearty greetings to all the countrymen, especially the people of Odisha, on the auspicious festival of Nuakhai related to agriculture! On this holy festival, people celebrate the harvest of paddy. This festival gives us the message of brotherhood and mutual harmony. On this auspicious occasion, I pray to God for the prosperity of the country and its people," Murmu, who hails from Odisha, said in a post in Hindi on 'X'.

Edible oil prices may not rise during festive season due to good supply

The prices of edible oils, however, may increase from December through April-May next year due to the impact of El Nino in oil-producing countries

Flipkart to generate over 1,00,000 jobs ahead of the festive season

The e-commerce firm is planning to deliver more than 40% of shipments during the festive event through our Kirana delivery programme

Flipkart to create more than one lakh seasonal jobs in festive season

Flipkart will create over 1 lakh seasonal jobs ahead of the festive times, which will be available in different supply chains, such as fulfilment centres, delivery hubs, and sortation centres

Flight tickets to get expensive during festive season as ATF prices rise

Last month, ATF prices increased by 8.4 per cent, or Rs 7,651, in the national capital to Rs 98,508 per KL compared to July

Car discounts sputter in Aug but set to regain speed: Who offers what

Anticipated strong festival demand in automotive industry may lead to reduced discounts for utility vehicles

India's hiring outlook for festive season shining, shows Indeed survey

69 per cent of employers surveyed are looking to hire temporary workers this festive season

Ola Electric registers over 400% growth in Aug; gears up for festive season

Ola which competes with players such as Ather Energy, Okinawa, Hero Electric and TVS Motor company said it has maintained a market share of about 30 per cent during August

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

Festive demand to see addition of 50,000 temporary jobs in BFSI: TeamLease

The second half of the ongoing calendar year is expected to see an addition of about 50,000 temporary jobs in the banking, financial services and insurance (BFSI) sectors ahead of the festive season, according to a report by staffing company TeamLease Services. The BFSI sector is already witnessing a remarkable surge in credit card sales, personal finance, retail insurance, driven by increased consumer spending and confidence in the economy, according to the report. "This increased activity is anticipated to generate about 50,000 temporary jobs in the second half of 2023, as BFSI firms are set to increase their workforce to meet the surge in finance products," it added. The TeamLease analysis is based on current market demand, industry job openings and the larger market or industry sentiment. From the BFSI sector's perspective, the demand for temporary workers during the festive season has shown a consistent rise not only in tier-I cities like Ahmedabad, Pune, Bengaluru and Kolkata

Nepal requests India to supply rice, sugar to avert possible food scarcity

The Nepal government has requested India to facilitate the supply of paddy, rice and sugar, a senior official said here on Wednesday, as a precautionary measure to mitigate any possible food scarcity in the upcoming festive season. The request was made through the Ministry of Foreign Affairs to the Indian authorities last week, Commerce and Supplies Ministry Joint Secretary Ram Chandra Tiwari said. "Nepal has requested India to provide one million tonnes of paddy, 100,000 tonnes of rice, and 50,000 tonnes of sugar," he said. Though there is no immediate shortage of rice and sugar in the market, there are rumours about its possible scarcity following India's decision to ban the export of non-basmati white rice to the international market. So as a precautionary measure, the Nepal government has asked India to supply these food items, Tiwari said. There are also concerns that traders might resort to hoarding these goods, potentially driving up prices as the festive season approaches,

Festive demand surge expected to create 50,000 temp jobs in coming months

BFSI sector prepares for increased hiring amidst rising consumer spending; 15% jump in open anticipated positions compared to last year

Fundraising activity in debt market gathers speed ahead of festival season

Nabard, Tata Capital, Mahindra Finance to tap into market

Ahead of festive season, Indian smartphone market showing recovery: Report

The research firms attribute the halt in shipment decline to a revival in consumer demand as macroeconomic factors improve

India to see LG's highest sales growth globally this year: MD Hong Ju Jeon

LG India will boost localisation of its products by increasing the use of locally produced components from 50% to 70%

Here's how Indians celebrate Holi across different parts of the country

If you enjoy colour and want to discover interesting information about Holi, here are the various names

Demand remained muted despite the largely Covid-free festival season in Q3

Growth in private final consumption expenditure was down 7 percentage points from Q2