The domestic apparel industry is upbeat about good apparel sales expected to remain during the festival season. In the past few weeks, during the festivals like Raksha Bandhan and Onam, good apparel sales raised hopes of strong demand this festive season even through mass segments.
The festive season starts with Onam and covers Ganesh Chaturthi, Durga Puja, Dussehra, Diwali and Bhai Dooj. It is further supported by Christmas and new year’s.
The last few months have been challenging for the industry be it overall inflation or natural calamities in some states.
Recent sales trend indicates a normal festive period ahead for apparel and discretionary segments that had been struggling for almost a year now.
Department store chain Lifestyle International and few others have also managed their inventory for the festive season after gauging this demand boost.
It is also worth mentioning here that during the past few months, most companies have been either slashing price tags or offering steep discounts to clear unsold inventory after price increases across all apparel categories last year.
Various reports and surveys do indicate positivity about the festival season. According to Axis My India consumer sentiment index , about 22 per cent consumers plan to increase their expenses on clothing.
Retailers Association of India (RAI) also sales across categories grew 9 per cent year on year in July, while apparel sales rose 8 per cent,
