Moderation the mantra for Deepavali this year
It’s all about moderation this Deepavali. That is what current buying trends indicate. The festival of lights has lost some of its sparkle this year with less fireworks, less festive clothing and even lesser glitter.
The market has been dull so far and market watchers are eagerly waiting for Dhanteras to get an assessment of the festival selling.
Gold rates have risen steeply in the last four to five days and this has forced citizens to focus on household items, clothes and electronic goods.
“No further correction is expected in the gold rates anytime soon. Due to increase in prices the market has remained dull and consumers will take some time to get used to the sudden hike.
Cloth merchants say sales are 40 per cent lower this year compared to previous years. Also, a lot of shops have not yet stocked up on fresh stocks as the pre-festival sales have been below average.
“We are yet to replenish fresh stocks for Deepavali as the earlier stock has not been sold,” said a boutique owner in General Bazaar, Md. Hafeez.
Even sale of fireworks seems to be less vibrant this season with stalls yet to see the festive rush. “Sales have not yet started.
Since just a few days are left for Deepavali, we do not expect the sales to be as good as in the previous year, said Ayaan Khan, a fireworks stall owner in Lakdikapul.
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