Total Sales Growth During the Festive Season
The Union Finance Ministry has reported that the volume of sales in India grew during the festive season after the cut in GST rates. There was growth across various sectors such as automobiles and e-commerce. According to the ministry, the decision by Prime Minister Narendra Modi to slash GST rates contributed to increasing consumer confidence and improving consumption.
Sales turnover was the maximum at ₹7 lakh crore during Navratri and the wedding season. This is the highest consumer spending in recent history. Online payments also surged—rose from ₹1.18 lakh crore on September 21 (before new GST rates) to ₹11.31 lakh crore on September 22. Festive sales in Delhi itself were estimated at ₹75,000 crore. Cotton demand increased by about 10% in Ahmedabad with lower GST rates on apparel priced below ₹2,500.
Continued growth in Consumer Durables and High-End Products
Consumer durables sales rose 40% to 45% during the festival season. The premium products were fueling this growth. Haier recorded an 85% jump in sales, as most of its 85–100-inch TVs that cost over ₹2.5 lakh were sold out. Reliance Retail recorded 20–25% sales growth from the previous year on the back of demand for larger screen TV sets and smartphones. Vijay Sales, LG, and Godrej Appliances also recorded double-digit growth.
Boost to E-commerce During Festive Season
E-commerce registered a healthy boost. Amazon India received 276 crore visits between the period with 70% of the population belonging to tier-II and tier-III cities. Same-day and next-day delivery in metro cities increased by 29%, and two-day delivery in smaller cities increased by 37%. The numbers indicate a wider reach of e-commerce in urban and rural areas.
Meesho also saw strong activity with 206 crore visitors. Between the Dussehra week period itself, users spent a staggering 117 million hours shopping on the app.
High Vehicle Sales on Dhanteras
Vehicle sales surged during Dhanteras. Maruti Suzuki India expected sales to exceed 50,000 cars. Hyundai Motor India forecasted over 20% growth compared to the previous year, when it sold 14,000 cars. According to Maruti Suzuki’s Senior Executive Officer (Marketing and Sales), Partho Banerjee, around 41,000 cars were already delivered, and 10,000 more deliveries were scheduled for Sunday.
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