Consumer goods industry is pinning its hopes on recent government measures and attractive offers to push up sales in the festive season, which accounts for around 25% of the annual revenue.
An extended summer led to a windfall of double-digit growth in consumer goods this year, especially in the cooling category. However, slowdown in the last two months has been a damper despite good monsoon. Retailers, on the hand, don’t think the slowdown has affected the industry and are optimistic about the festive season.
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Customers are expected to gain with lucrative pricing as brands and retailers aim for a larger share of the pie. This year, the festivities in the Indian calendar are slated to last for only about 45 days due to an earlier Diwali, compared to over 60 days in 2018. This further reduces the sales window for the industry.
Source: Economic Times
