07 October 2022, Mumbai:
Consumers have turned to ethnic wear in a big way. They are upgrading their wardrobes for the festivities and the wedding season. So demand for ethnic and occasion wear has picked up at Indian malls and retailers. Sales of jewelry and occasion wear, which saw a tough time, have picked up. This time the wedding season is going to be long and people are going back to big-ticket weddings.
Consumers are looking for differentiated products and are willing to pay the price as long as they see value in the products. While inflation remains a concern for a large cohort of shoppers, those celebrating significant occasions after a gap of two years are not holding back on spending.
Fashion goods contributed 20 per cent to the gross merchandise value during the ongoing online festive sales. Fashion, as a category, grew three times compared to business-as-usual days, or non-sale days, during the first leg of the festive sales. Sales at few malls had surpassed 2019 levels in September.
