As Diwali 2024 approaches, Indians are anticipated to spend over Rs 1.8 lakh crore on traditional gifts, sweets, and other festive essentials. This year’s spending reflects a resurgence in consumer confidence and a desire to celebrate the festival of lights in grand style, particularly as economic conditions improve post-pandemic.
Source:- bbc news
According to industry experts, the surge in spending is driven by several factors, including increased disposable incomes, a growing middle class, and a shift in consumer preferences towards quality and variety. Traditional gifts, such as clothing, jewelry, and home decor, remain popular, while sweets and snacks are integral to the celebration, symbolizing joy and prosperity.
Source:- news 18
E-commerce platforms are also playing a significant role in this spending spree. With the convenience of online shopping, many consumers are opting for digital purchases, which offer a wide range of products and timely delivery options. Retailers are expected to launch numerous promotions and discounts, further enticing consumers to indulge in festive shopping.
Moreover, the trend of gifting personalized items and experiences is gaining traction, as people seek to make their gifts more meaningful. This includes customized sweets, handmade crafts, and experiential gifts like travel packages or spa vouchers, enhancing the emotional connection associated with the festive season.
Overall, Diwali 2024 is set to be a vibrant celebration, with spending on traditional gifts and sweets reflecting the festive spirit and cultural significance of the occasion. As families and friends come together to celebrate, this year’s festivities promise to be a blend of tradition and modernity, highlighting the enduring importance of Diwali in Indian culture.
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