01 August, 2021

Boom Time Is Back

After three years, the market celebrates this festive season with bigger sales

In The Mood To Spend
Buying and selling reach fever pitch in the festive air
Photograph by Tribhuvan Tiwari
Boom Time Is Back
outlookindia.com
2016-10-19T15:23:58+05:30

There is a lot of euphoria at the New Delhi headquarters of consumer electronics giant LG. Over the last few months, the company has been preparing to ramp up its product line inventory to be offered in the current festive season. This year, there is considerable expectation that after a long hiatus of three years, Indian consumers will open their purse strings to shop generously during festivals.

 LG’s optimism stems from a rather rob­ust double-digit sales growth in the first half of the year, which was followed by a good showing at the outset of the festive season beginning September. During the 10-day Onam celebrations last month in Kerala, the company witnessed a sales growth of 35-40 per cent, reflected in a business of Rs 1,000-1,200 crore.

“There is a strong positive sentiment in the market,” says Niladri Dutta, chief marketing officer, LG India. “We expect to clock at least 30 per cent growth in the Navaratri-Diwali season. In fact, we hope strong growth will continue till November. We are looking at business worth anything...

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