Festival Season Means Business

As India indulges within the competition fever, amid the continued Coronavirus pandemic, Indian enterprise sectors are eyeing a stronger season as in comparison with final yr. After the benefit in mobility restrictions, main giants from the trade are hoping that the festive season will usher in some semblance of full normalcy, when it comes to demand restoration in city areas.

Dawinder Pal, Marketing Head, Bikano, stated, “The festive season is always special for us as we share a bond with our loved ones. We believe it’s a great opportunity for us to engage with the consumer. In our country, where purchase decisions are primarily driven by emotions, the festive season comes with a huge bonus of reminding our customers about Indian culture by associating it with our products.”

Pal additionally stated that with respect to the packaged snacks and sweets class, the festive season is a superb alternative for companies to ‘up’ their gross sales, and practically 25-30 p.c of conventional namkeen and sweets gross sales occur throughout the festive season. With the festive season ranging from Rakhi and stretching until Diwali, the demand for in-home snacks rises additional which helps us to capitalise on the season and additional increase our gross sales.

In India, the competition season is the right time for firms to attract shoppers.

Rohit Sahni, Co-founder, WK Life, stated, “We believe the festive season is a time where we need to be more focused on our product placement and marketing strategies as there is always a huge demand in the market.  We are expecting better sales in the festive season as compared to last year, with increased demand, improved consumer sentiment, and increased mobility. We are also expecting 30 per cent growth this festive season.”

As per the RedSeer Consulting ‘Mid-Festive Check In’, report, ihe first week of October of festive sale, e-commerce giants like social commerce and grocery, altogether the platforms recorded about $2.7 billion in gross sales and are on monitor to realize $4.8 billion Gross Merchandise Value (GMV) which was additionally predicted by RedSeer Consulting in September. 

Uttam Malani, Executive Director, Centuary Mattress stated, “Festive season for consumers means deals, new product launches, innovative marketing campaigns, and much more.  At Centuary, we have launched a set of new products and we have upgraded our premium offerings, which are now powered with new technologies. Then, there will be a big campaign on raising sleep awareness, coupled with offers to prompt consumer’s purchase decisions.”

Brands and prospects:

The prospects and types have a novel relationship that may result in a optimistic turnout for each events. 

Pal stated, “Festivities offer a good opportunity to reconnect with current and prospective consumers. Brands can employ different tactics like leveraging social media to increase visibility, stand apart by using innovative ways like launching a new campaign, distributing coupons, or providing discounts and employ a seamless omnichannel experience to increase customer engagement. Companies can also give their packaging a twist as per the occasion.”

Major manufacturers goal prospects throughout festivals, on the time they’re extra prone to spend.

“Yes, an excessive amount of extent manufacturers do play a job in buyer preferences as throughout the gross sales the costs of the branded merchandise are simply inexpensive by the shoppers. Consumers search consolation, happiness, and achievement of their lives, which they acquire partially by way of the merchandise they buy. Consumers kind an opinion {that a} model is reliable if the manufacturers they use constantly ship a optimistic expertise, which provides them peace of thoughts when buying,” said Chhetrri. 

Business amid COVID-19:

Since the first wave of COVID-19, India has witnessed many hurdles, from several businesses closed down to economic and financial crises, in many sectors. 

“With higher logistics and provide chain administration, enterprise is again on monitor and the retail sector is predicted to get a much-needed increase with enhanced site visitors technology in trendy commerce and e-commerce throughout the festive interval – in each city and rural markets. Many manufacturers have already began reserving ‘hotspots’ at retail shops and more and more providing merchandise and provides, which is able to entice shoppers this festive season. We are going closely on house classes, additionally designing merchandise particularly for Indian shoppers’ style and look ahead to rising our gross sales by 3 instances,” Sahni said. 

Meanwhile, Chhetrri added, “Yes Definitely, it is the time period where all small businesses expect a maximum number of sales as well as profits. This is a season when Indians do a lot of shopping since it is the time for celebrations and get-togethers. The festive season in India is filled with both excitement and anxiety for retailers. On the one hand, it is the golden period, when they have the greatest opportunity to increase their revenue. However, it is also the time when their supply chain, technology platforms, and customer service will be put to the test.”

Leave a Reply

Your email address will not be published. Required fields are marked *