Diwali Shopping hit a new record this time. It was really anticipated with the booming economy. In the consumer durables sector, we have inputs from LG India which said that they have recorded between 37-40% higher sales compared to last Diwali. High end LCD TVs and Washing Machines were the hot selling products in the Metros. Some stockists even ran out of stock.
A Maruti dealer in Delhi sold 140 cars through 2 of his dealership outlets, a new all time record for Maruti Suzuki India. Honda clocked highest sales of 40 cars in a single day. GM India said that this month had the biggest retail sales ever and most of them are extending the offering until the end of November to achieve new record. Bike sales also hit a new high at 45,000 bikes being sold on a single day.
We should congratulate Amul for changing the mindset of Indian consumer. They have migrated them from Sweets/Mithais towards chocolate tradition. They recorded 30% higher sales and sold 2 Lakh gift packets of Chocolates.
This reminds me of the Thanks Giving sales in the US, which marks the beginning of the shopping season. Retailers wake up, India has atleast 500 million middle class citizens who want a change, chalk out big retail strategies in India to cash in 0n the last economic boom in the world.