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Time of India
21 hours ago
- Business
- Time of India
I-Day boost: Discounts drive 8-10% sales growth; executives eye stronger festive season
Independence Day discounts gave India's retail sector a much-needed boost, with footfalls and sales rising by 8-10% year-on-year across key shopping destinations. Industry executives say the revival in entry-to-mid segment demand has raised hopes of a strong festive season ahead. Electronics, particularly in affordable categories, along with groceries and apparel have seen healthy growth. Restaurants, too, are reporting higher sales as malls draw more visitors, helped by new film releases and a surge in in-home dining orders. 'After several months, there is good demand for entry to mid-segment products,' Nilesh Gupta, director at electronic retail chain Vijay Sales told ET. 'Walk-ins are good and there is over 8% jump in sales value over last year, which is better than last year,' he added. Electronics makers and grocery retailers ran promotional offers around Independence Day eve, one of the biggest consumption periods outside the festive and Republic Day seasons. At Reliance Retail, sales grew in double digits, according to an executive. Haier India president Satish NS told ET that the electronics manufacturer's Independence Day sales were up more than 20% over last year, with 'most categories driving sales.' by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Luxury 3 & 4 BHKs with 25+ World-Class Amenities Evara Thane Buy Now Undo On the ecommerce front, Tata-owned BigBasket reported a 42% on-year jump in patriotic merchandise sales on Friday, alongside strong demand for electronics, including the new iPhone 16. Malls also recorded a surge in traffic during the long weekend. Theatres are seeing back-to-back housefull shows for the first time since the pandemic, powered by Rajinikanth's Coolie and Hrithik Roshan's War 2. 'The crowd that comes for the movie adds at least 10% of the revenue for fashion brands, food and beverages,' said Harsh V Bansal, cofounder of Unity Group, which operates more than six malls in Delhi and Punjab. 'The next few days also look good in terms of footfall and sales,' he added. International labels have also drawn shoppers, with discounts prompting customers to buy at lower price points. 'International brands have contributed to the growth with consumers using the lower price point during the sale to buy products,' said Muhammad Ali, chief executive, retail, at Prestige Group, which operates five malls in South India. Those malls have reported a 15% year-on-year rise in sales. 'One segment which has not done well is Indian women's wear, which is a cause of worry,' he told ET. Revival hopes Retailers and brands have been under pressure for nine to ten quarters as low-to-middle-income households grappled with high inflation and weak earnings growth. Higher spending on travel and tourism further dented retail demand. Executives, however, are forecasting a turnaround in the second half of the fiscal, supported by low inflation, soft loan rates, reduced income-tax slabs this year and good monsoon rains. 'While middle class discretionary spending was under pressure, some consumption has started and with the festival tail wind, the outlook is much better,' Anjan Chatterjee, managing director of Speciality Restaurants told ET. He said that Independence Day demand trends have been 'reassuring, with a 15-18% year-on-year growth.' The government on Friday also said GST rates will be rationalised by Diwali to boost consumption, improve affordability and make essential as well as aspirational goods more accessible to a wider base of consumers—moves expected to spur further demand. Stay informed with the latest business news, updates on bank holidays , public holidays , current gold rate and silver price .
Time of India
a day ago
- Business
- Time of India
I-Day Fuels a Revival in Retail Sales
Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Popular in Epaper Tired of too many ads? Remove Ads Independence Day discounts have lifted footfalls and sales by 8-10% YoY across key retail destinations in the country, with a revival in entry-to-mid segment demand raising hopes of a strong festive of electronics, particularly in the more affordable segments, groceries and apparel have picked up, while restaurants are benefiting from higher mall traffic boosted by new movie releases and a rise in in-home dining orders, industry executives said.'After several months, there is good demand for entry to mid-segment products,' said Nilesh Gupta, director at electronic retail chain Vijay are good and there is over 8% jump in sales value over last year, which is better than last year, he companies and grocery retailers run promotional offers specifically for the Independence Day eve--one of the largest consumption periods, along with the Republic Day sales, after the festive India's largest retailer Reliance Retail, sales grew in double digits over last year, an executive has been running I-day promotional offers across the consumption basket—electronics, groceries and fashion, and keeping stores open from early morning till late India president Satish NS said the electronics manufacturer's I-Day sales are up over 20% compared to last year, with most categories driving ecommerce app BigBasket reported a 42% on-year increase in patriotic merchandise sales on Friday, apart from a surge in sales of electronics including iPhone said footfalls have surged due to long weekends, discounts on offer, and new movie releases, powered by Rajinikanth's Coolie and Hrithik Roshan's War 2.'The crowd that comes for the movie adds at least 10% of the revenue for fashion brands, food and beverages,' said Harsh V Bansal, cofounder of Unity Group, which operates over half a dozen malls in Delhi and Punjab. 'The next few days also look good in terms of footfall and sales,' he the first time since the Covid-19 pandemic, theatres are seeing back-to-back movies going housefull, Bansal of the I-Day offers are continuing till the weekend.'International brands have contributed to the growth with consumers using the lower price point during the sale to buy products,' said Muhammad Ali, chief executive, retail, at Prestige Group, which operates five malls in South India. These malls have seen a 15% on-year growth in sales. 'One segment which has not done well is Indian women's wear, which is a cause of worry,' Ali and brands have been struggling with discretionary sales for the last 9-10 quarters, as low-to-middle-income consumers remained hard-pressed by high inflation and sluggish earnings growth. Higher spending on travel and tourism by many consumers also impacted retail sales, executives executives, however, have forecasted a recovery in consumption in the second half of this fiscal, aided by low inflation, low interest rates on loans, a reduction in income-tax rates this year and good monsoon rains.'While middle class discretionary spending was under pressure, some consumption has started and with the festival tail wind, the outlook is much better,' said Anjan Chatterjee, managing director of Speciality Restaurants, which operates chains like Mainland China and Oh! trend during Independence Day has been reassuring, with a 15-18% year-on-year growth, he government on Friday said GST rates will be rationalised to enhance affordability, boost consumption, and make essential and aspirational goods more accessible to a wider population by Diwali which too will bring back has been optimism across companies with sales during June and July improving sequentially after intermittent rains and early onset of monsoon impacted sales in the April-May period.
Economic Times
a day ago
- Business
- Economic Times
Independence Day fuels a revival in retail sales
Synopsis Independence Day sales boosted retail across India. Discounts increased foot traffic and sales by 8-10%. Electronics, groceries, and apparel saw strong demand. Restaurants benefited from mall traffic and movie releases. Retailers hope for a strong festive season. Reliance Retail and BigBasket reported significant sales growth. Malls saw increased footfalls. The government plans to rationalize GST rates to boost consumption. Independence Day discounts have lifted footfalls and sales by 8-10% YoY across key retail destinations in the country, with a revival in entry-to-mid segment demand raising hopes of a strong festive of electronics, particularly in the more affordable segments, groceries and apparel have picked up, while restaurants are benefiting from higher mall traffic boosted by new movie releases and a rise in in-home dining orders, industry executives said. 'After several months, there is good demand for entry to mid-segment products,' said Nilesh Gupta, director at electronic retail chain Vijay are good and there is over 8% jump in sales value over last year, which is better than last year, he companies and grocery retailers run promotional offers specifically for the Independence Day eve--one of the largest consumption periods, along with the Republic Day sales, after the festive season. At India's largest retailer Reliance Retail, sales grew in double digits over last year, an executive has been running I-day promotional offers across the consumption basket—electronics, groceries and fashion, and keeping stores open from early morning till late India president Satish NS said the electronics manufacturer's I-Day sales are up over 20% compared to last year, with most categories driving ecommerce app BigBasket reported a 42% on-year increase in patriotic merchandise sales on Friday, apart from a surge in sales of electronics including iPhone said footfalls have surged due to long weekends, discounts on offer, and new movie releases, powered by Rajinikanth's Coolie and Hrithik Roshan's War 2.'The crowd that comes for the movie adds at least 10% of the revenue for fashion brands, food and beverages,' said Harsh V Bansal, cofounder of Unity Group, which operates over half a dozen malls in Delhi and Punjab. 'The next few days also look good in terms of footfall and sales,' he the first time since the Covid-19 pandemic, theatres are seeing back-to-back movies going housefull, Bansal of the I-Day offers are continuing till the weekend.'International brands have contributed to the growth with consumers using the lower price point during the sale to buy products,' said Muhammad Ali, chief executive, retail, at Prestige Group, which operates five malls in South India. These malls have seen a 15% on-year growth in sales. 'One segment which has not done well is Indian women's wear, which is a cause of worry,' Ali said. Rebound hopes Retailers and brands have been struggling with discretionary sales for the last 9-10 quarters, as low-to-middle-income consumers remained hard-pressed by high inflation and sluggish earnings growth. Higher spending on travel and tourism by many consumers also impacted retail sales, executives executives, however, have forecasted a recovery in consumption in the second half of this fiscal, aided by low inflation, low interest rates on loans, a reduction in income-tax rates this year and good monsoon rains. 'While middle class discretionary spending was under pressure, some consumption has started and with the festival tail wind, the outlook is much better,' said Anjan Chatterjee, managing director of Speciality Restaurants, which operates chains like Mainland China and Oh! Calcutta. The trend during Independence Day has been reassuring, with a 15-18% year-on-year growth, he government on Friday said GST rates will be rationalised to enhance affordability, boost consumption, and make essential and aspirational goods more accessible to a wider population by Diwali which too will bring back has been optimism across companies with sales during June and July improving sequentially after intermittent rains and early onset of monsoon impacted sales in the April-May period.
Time of India
a day ago
- Business
- Time of India
Independence Day fuels a revival in retail sales
Independence Day sales boosted retail across India. Discounts increased foot traffic and sales by 8-10%. Electronics, groceries, and apparel saw strong demand. Restaurants benefited from mall traffic and movie releases. Retailers hope for a strong festive season. Reliance Retail and BigBasket reported significant sales growth. Malls saw increased footfalls. The government plans to rationalize GST rates to boost consumption. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Independence Day discounts have lifted footfalls and sales by 8-10% YoY across key retail destinations in the country, with a revival in entry-to-mid segment demand raising hopes of a strong festive of electronics, particularly in the more affordable segments, groceries and apparel have picked up, while restaurants are benefiting from higher mall traffic boosted by new movie releases and a rise in in-home dining orders, industry executives said.'After several months, there is good demand for entry to mid-segment products,' said Nilesh Gupta, director at electronic retail chain Vijay Sales Walk-ins are good and there is over 8% jump in sales value over last year, which is better than last year, he companies and grocery retailers run promotional offers specifically for the Independence Day eve--one of the largest consumption periods, along with the Republic Day sales, after the festive India's largest retailer Reliance Retail, sales grew in double digits over last year, an executive has been running I-day promotional offers across the consumption basket—electronics, groceries and fashion, and keeping stores open from early morning till late India president Satish NS said the electronics manufacturer's I-Day sales are up over 20% compared to last year, with most categories driving ecommerce app BigBasket reported a 42% on-year increase in patriotic merchandise sales on Friday, apart from a surge in sales of electronics including iPhone said footfalls have surged due to long weekends, discounts on offer, and new movie releases, powered by Rajinikanth's Coolie and Hrithik Roshan's War 2.'The crowd that comes for the movie adds at least 10% of the revenue for fashion brands, food and beverages,' said Harsh V Bansal, cofounder of Unity Group, which operates over half a dozen malls in Delhi and Punjab. 'The next few days also look good in terms of footfall and sales,' he the first time since the Covid-19 pandemic, theatres are seeing back-to-back movies going housefull, Bansal of the I-Day offers are continuing till the weekend.'International brands have contributed to the growth with consumers using the lower price point during the sale to buy products,' said Muhammad Ali, chief executive, retail, at Prestige Group, which operates five malls in South India. These malls have seen a 15% on-year growth in sales. 'One segment which has not done well is Indian women's wear, which is a cause of worry,' Ali and brands have been struggling with discretionary sales for the last 9-10 quarters, as low-to-middle-income consumers remained hard-pressed by high inflation and sluggish earnings growth. Higher spending on travel and tourism by many consumers also impacted retail sales, executives executives, however, have forecasted a recovery in consumption in the second half of this fiscal, aided by low inflation, low interest rates on loans, a reduction in income-tax rates this year and good monsoon rains.'While middle class discretionary spending was under pressure, some consumption has started and with the festival tail wind, the outlook is much better,' said Anjan Chatterjee, managing director of Speciality Restaurants , which operates chains like Mainland China and Oh! trend during Independence Day has been reassuring, with a 15-18% year-on-year growth, he government on Friday said GST rates will be rationalised to enhance affordability, boost consumption, and make essential and aspirational goods more accessible to a wider population by Diwali which too will bring back has been optimism across companies with sales during June and July improving sequentially after intermittent rains and early onset of monsoon impacted sales in the April-May period.
Time of India
10-08-2025
- Business
- Time of India
Demand storms back in July after rain check in a wet quarter
Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Mumbai | Kolkata: Sales of daily essentials, household items, and lifestyle products recovered in July, lifting hopes of a steady revival this quarter and for the entire fiscal year. Orders for fast-moving consumer goods at kirana, or neighbourhood stores, rose 8.6% YoY in July, from a 4.6% increase in June, according to phone sales climbed 7-8% YoY in July, per market tracker Counterpoint of home appliances such as refrigerators and washing machines rebounded 7% YoY in July, from a 18-20% decline in June. Sales in the segment had fallen 15- 18% on-year in the June quarter.'July sales were better than June, and August too is looking better as of now,' said Satish NS, president at Haier India, the country's third largest electronics maker. 'The early festive season this year has improved mood,' he said, adding that the company recorded 15% YoY growth in and erratic monsoon rains impacted June quarter sales across most consumer goods segments. It was particularly evident in demand for summercentric products such as air conditioners, refrigerators, and of daily groceries and household and personal products slowed to a 3.9% increase on-year in the June quarter, according to market researcher Numerator, formerly Kantar. 'Growth in the commodities and dairy segments has been largely inflation-driven,' said Harshit Bora, analytics head at Bizom.'Chocolate and confectionery category has seen an uptick in sales of Rs 5-and-below SKUs (stock keeping units),' said Bora.'A good monsoon has also sparked signs of a revival in rural markets which grew 10.3%.' 'Good monsoon will go very well for rural demand,' Godrej Consumer Products CFO Aasif Malbari told ET. 'Even from an urban perspective, interventions both on fiscal and tax side should go well for the year. So, there is likely to be a sequential improvement outlook also for FY26 compared to FY25 from a demand point of view.'Despite sporadic rainfall, a strong harvest tempered food inflation, a key concern for the past several quarters, especially among rural consumers. Companies including Marico , Godrej Consumer Products, Britannia , and Hindustan Unilever , during recent post- earnings calls, maintained guidance for broad-based recovery in consumption sentiment backed by easing retail and food inflation, a favourable monsoon, increased government spending, and higher minimum support recovery has improved in July with good business during sales events by e-commerce marketplaces as well as offline channels, noted Tarun Pathak, research director at Counterpoint. 'There were multiple new launches which helped boost sales... Trade inventory has come down. The run-up to the festive period is quite buoyant after two years.'
