The report says that Croma and Reliance Digital stores had people lining up waiting for their turn to buy various products mainly home appliances and electronic devices like Laptops, LED TVs, microwaves, refrigerators, and electric kettle, etc.
In pre-COVID levels, the Retailers are expecting the demand recovery in the coming festive season nearly 70%. In Pune footfall and sales across malls in the Independence Day weekend, despite heavy rainfall, and have given them the confidence that buyers would come back soon. Various other products and services have also reported a considerable hike in its demand such as apparel, cosmetics, and footwear, etc. The festive season from Dussehra to Diwali is another festive which the retailers aim to see a bulk demand on various products and brands.
The 16-day Pitru Paksha after Ganesh Chaturti from September 1 onwards is expected to be dull as it is considered an inauspicious period. But the months October and November are being expected to bring a prosperous demand on products and to bring in some cheer is terms of general expectation.
Shashank Pathak, center director, and ED, WestEnd Mall, said that the permissible brands have 95% reopened and around 40% of customers have returned to the mall. He says that they expect to see a robust festival season with Made in India products being the flavor of the season. Thus such demand for ethnic and home country made products also indicates a good growth of the domestic industries and it will also provide both the retailers as well as the manufactures.
Mr. Pathak says, currently, people are focusing on their essential needs but the condition is improving by the day. Therefore, we have a 70% recovery is possible.
There is no trial and no exchange policy followed by most of the brands did not deter people from buying. Pathak said their first bill was for Rs 15,000 and the last one was for Rs 15,000 and people were spending 1.5 to 1.6 times more than usual. People were sitting at home and not spending.
The Rajpurohit said that around 18,000 footfall and significant sales registered in Independence Day weekend saw some real shoppers. The casual wear and white goods involved the electronics dominated the sale with a high demand for mobile phones and laptops.
The Fashioning, single-brand store generated some interest during the Independence Day weekend. Koushik Marathe, the director, Fashionking Brands, said that a network of 100 outlets selling formal clothes for men, and they had their worst ever a time in the last four months. By the end of August, the retailers are also expecting F&B and entertainment services to resume after the 10-day Ganesh festival.
