It’s a no-brainer that demand is high for almost everything during the festive season. But sometimes, the economy gets a shock when sales don’t hit high numbers during Diwali. Let’s take a look at what happens during Diwali and its effect on sales.
Diwali is a time for celebrations with pomp and fervor. It’s considered a very auspicious time to start new ventures and bring new things home. The first day of Diwali is called Dhanteras and is the most auspicious day of Diwali. During this time, people flock to shop for anything the need and want. Retailers, dealers and jewellers gear up well in advance to meet high demand. They also put their best face on with exciting deals, offers and special schemes to encourage people to shop and also beat their competition. So those who are not religious also shop on account of the massive discounts.
Car sales get a boost during Diwali as many people wait to buy a new car during the festive season. Not only is it auspicious, but car manufacturers offer good deals that include cash discounts, exchange bonuses and other offers. Car makers might also offer free accessories or discounts on them. If customers are lucky, they might get additional features in their car at no extra cost. Benefits can stretch up to Rs.1 or Rs.2 lakhs during Diwali. Therefore, car sales skyrocket during this time. But this was not the case in 2011 when the sales took a hit. Car makers stated that during this time petrol prices were high and interest rates on loans were not affordable. This deterred customers from buying new cars as it was just too expensive.
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