Jewellery, apparels to witness pent-up demand during this wedding season

14 Dec 2022 , 11:26 AM

The wedding season has boosted sales growth in categories such as apparel, jewellery, large packs of staples, and edible oil by up to 30% in the last two weeks, with the industry expecting a record number of marriages planned until February.

This will aid in a faster recovery in overall demand, according to industry executives. Absolute sales in 2019 are significantly higher than pre-Covid levels.

Executives said that categories such as refrigerators, washing machines, and televisions have seen an uptick in inquiries and a marginal improvement in demand since December, which they expect to pick up in January when the number of special occasions will be much higher.

According to Rajendra Kalkar, president (malls) of Phoenix Mills, which operates nine malls in cities such as Mumbai, Pune, Bengaluru, and Chennai, stated that there has been a 30-40% year-on-year increase in sales in categories such as apparel, jewellery, and even luxury brands, fueled by wedding demand.

Wedding demand has recovered after a two-year slump during which celebrations were either muted or delayed. When demand fell after Diwali due to a delayed winter in several parts of the country, this provided an additional boost to the industry.

Sunil Kataria, CEO of fabric and apparel manufacturer Raymond’s lifestyle business, stated that the country is expected to have over 30 lakh weddings this season, with the majority lasting 4-5 days.

Online fashion retailer Myntra highlighted that premium and heavy Indian wear segment is witnessing a 100% rise in demand, ramping up the game for fashion and accessories brands.

Apparel and consumer electronics manufacturers and retailers are hoping that the wedding season will boost their sales significantly in December and the January-March quarter as people spend more on such occasions.

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