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Bumper Dhanteras, Diwali Sale Lifts Business Confidence

Markets witnessed a sudden surge in business during this festival season, posting a whopping growth of around 25 per cent across all sectors after a prolonged slump in the first six months of the year

Photo Credit : Reuters

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Markets witnessed a sudden surge in business during this festival season, posting a whopping growth of around 25 per cent across all sectors after a prolonged slump in the first six months of the year.

After a subdued demand in the last six months, gold jewellery sales sparkled on Dhanteras, while the automobile dealers registered record breaking sales. So far as online shopping is concerned, there is no relevant consolidated figure is available.

This festive season the recently-launched android television hogged the limelight. Retailers employed innovative marketing strategies to push sales by offering attractive discounts on select items. Jewellers were offering cars and iPhones on purchase of gold and diamond jewellery.

Car companies and their dealers offered special discounts as well as gold coins to accelerate sales. People thronged stores selling electronic goods for TVs and washing machines. Many of them simply wanted to exchange their gadget with the latest toy in the market.

Market analysts, however, said that there were some logistic issues in transporting two and four-wheelers as Navratra and Dhanteras fell in the same month this year. Dhanteras and Diwali were stupendous with a boom in sales as there was a jump by 25 per cent over last year.

The country's top two carmakers Maruti Suzuki and Hyundai said they sold over 45,000 units on Dhanteras. Maruti Suzuki India Ltd and Hyundai Motor India Ltd (HMIL) reported good sales on Dhanteras, considered auspicious for making new purchases.

"This Dhanteras, the customers have done heightened purchases with deliveries of 15,153 Hyundai cars, growth of 26 per cent over last year," HMIL Senior Vice President Sales and Marketing Rakesh Srivastava told PTI.

According to market sources, sales figures may move up by just one notch than last year. Many car showrooms exhausted its stock before the closing time of 10.30 pm on Dhanteras.

Tulsi Nainwani, secretary of Automobile Traders Association, said: "This time, Navratra and Dhanteras fell in the same month. There were logistic issues in transporting two- and four-wheelers. There were massive sales in both sectors and on Dhanteras many showrooms exhausted their bike stocks."

Market analysts are of the view that on Dhanteras, the electronic bazar would have done a business of Rs 30 crore. And if you add Navratra, you can add another Rs 30 crore - all in a month.


Tags assigned to this article:
consumer durables diwali dhanteras auto gold