Women’s clothing is seeing more traction and sale as against the men’s this Diwali, says a Business World report. Men are buying significantly less this time as compared to their traditional buying habits. More women are going for shimmers and also opting for leather-based clothing. While online sales have picked up, people are visiting standalone showrooms. Consumers as well as industry players are beginning to feel positive and the confidence is also limping back to normalcy. The momentum is expected to improve post-Diwali.
However, this year’s Diwali revenues appear too abysmal compared to previous season. Whatever sales are happening can be associated more with the fall and winter seasons rather than Diwali. Though some people are now daring to venture out for shopping, there are hardly any parties happening and incomes are also curtailed. These factors can also be attributed to reduced sale numbers.
A few months ago, US-based management consulting firm McKinsey & Company had suggested that the situation would deteriorate from high-alert to red zone. According to its findings, as much as 80 per cent of leading fashion companies across the US and Europe would be in financial distress due to the pandemic.