DHANTERAS & DIWALI RETAIL SALES HIT THE ROOF

This Diwali season saw unprecedented sales by retailers, consumer durables companies, apparel outlets and jewellers with consumers going on a buying frenzy across the country. The only exception was  Punjab and to some extent Haryana which were very recently affected by floods.
Retailers and companies have reported a healthy year-on-year growth ranging from 20 to 80% growth. And this growth is not restricted to urban India. Retailers in rural India have shown growths from 80 to 120% growth in sales during this period. In rural India, this growth has been majorly driven by CDIT - specially white goods and appliances though other household goods - particulary kitchen products, apparel and Food & Groceries have also shown very robust growth.
There is a growing belief and confidence  that this consumer confidence will remain high on the back of a good monsoon, rising incomes, positive economic forecasts and a booming stock market. 
Retailers reported about 25% jump in average bill size, as demand for premium products such as flat-panel televisions, double-door refrigerators, fully-automatic washing machines, home theatres, branded gold and diamond jewellery, fashion apparel, imported gifts and branded furniture soared with consumers upgrading their household items. The fear mindset of consumers has completely vanished.

Source : Economic Times, RM reseach team