Showing posts from October, 2017

Deepavali Retail Sales – Less Fire, more Smoke

The week leading up to Deepavali was perhaps the most exciting times for Retailers. From Apparel to Consumer Durables, Motor cycles to Cars, people would flock to Retail Stores with their savings of the year. The period around Deepavali, which normally comes in the latter half of October or early November and the entire 3 rd Quarter of a financial Year would contribute over 50% of Retail Sales for certain categories like Television sets, Refrigerators, Washing Machines etc. This was the trend through the 90s and the new Millennium. Cut to mid-2000s, the evolution of Mall culture in India has been rapid, with over 1,000 functional shopping centers across the country. For every 3 new malls that open, 1 perishes and the trend is worse in certain cities, which were over-hyped by the Real Estate fraternity. The good part of Malls is that they provide customers 365-day access to regional, domestic and international brands. The footfalls used to be far higher in Malls a decade back t