Wednesday, July 9, 2025
HomeEconomySpree of nuptials unties some knots in demand

Spree of nuptials unties some knots in demand

-

[ad_1]

Weddings have been a blessing this year, not just for the couples but also for the inflation-weary economy. Sales of gold, jewellery, apparel, edible oil, packaged staples and household appliances have increased in the last two months of 2024. Industry executives said there has been an up to 25% year-onyear rise in sales of gold and jewellery during the core wedding season of November-December. For large packs of packaged staples such as rice, ghee and edible oil, sales grew by up to 15%, while increasing 6-8% for apparel. Strong consumer goods demand during the twomonth period is a rare bright spot in an otherwise muted Indian retail market this year.

Sales turned sluggish after surging during Diwali and promotional sales during Black Friday at November-end, amid consumer worries due to consistently high food inflation, executives said. A record number of weddings were solemnised through mid-December, with the season set to resume from mid-January.

“We have witnessed a 21% increase in wedding demand over last year, even though gold prices went up. For the main wedding day, people preferred heavy jewellery, while they bought lightweight jewellery for other wedding-related functions like haldi and mehendi,” said Baby George, chief executive of Joyalukkas.

Spree of nuptials unties some knots in demand

India’s largest packaged edible oil company, Adani Wilmar saw demand for cooking oil and packaged basmati rice surpass last year, helped by a greater number of wedding days, chief executive Angshu Mallick said. According to him, sales of large packs increased 10-15% from a year earlier, and “wedding demand has come as a relief when retail consumption has come down during the quarter due to high inflation.”

The Confederation of All India Traders estimates that 4.8 million weddings were solemnised during October-December, generating business worth nearly Rs 6 lakh crore. This is over 35% higher than last year, which could potentially propel spending by 40%. As per latest data from the Directorate General of Commercial Intelligence and Statistics, gold imports surged 30.7% from a year earlier during October-November.

Nominations for ET MSME Awards are now open. The last day to apply is December 31, 2024. Click here to submit your entry for any one or more of the 22 categories and stand a chance to win a prestigious award.

[ad_2]

Source link

LATEST POSTS

Ceritafilm Explores the Heart of Every Movie Through Story Reviews

Introducing ceritafilm: Where Movies Meet Meaningful Stories In a world flooded with movie ratings, short reviews, and spoiler-filled discussions, https://ceritafilm.com stands out by offering something truly...

Turn Health into Wealth with LifeWave X39

In today’s world, people are searching for two things more than ever:✅ Better health✅ Financial freedom With LifeWave X39, you don’t have to choose — you...

Soft Play Bus Essex with Squeeze Rollers & Dizzy Discs – A Fun-Filled Mobile Adventure

In today’s world of children’s entertainment, finding activities that combine physical play with safety and creativity can be a challenge. The Soft Play Bus Essex offers a...

The Mobile Spa Trend: Pamper Bus Fun for Little Fashionistas

A New Way to Celebrate in StyleThe world of children’s parties has transformed over the years, with themed events becoming more elaborate, creative, and personalized....

Most Popular

spot_img