28 September 2022, Mumbai:
Apparel and footwear companies across the country are bullish on festival season sales this year after two years of the pandemic.
On the back of positive consumer sentiment, most companies are hoping to garner double-digit sales growth during the season. There is a positive sentiment in the fashion industry across both offline and online channels.
The industry expects to see strong growth over the last year. This festival season’s initial indications are that there is positive consumer sentiment and they do want to spend. While malls and stores are witnessing strong footfalls, online sales across e-commerce platforms are eliciting good responses from consumers.
Since this festive season will be celebrated with full fervour and freedom after a gap of two years, consumers are expected to indulge in celebrations, and spending through sustained inflation can have an impact on sentiment.
Some consumers may seek value for money options and the impact of inflationary pressures could be visible more in the entry-level segment than in the mid to premium segments.
