Most Indians consider it auspicious to purchase consumer durables, precious metals and jewellery, and automobiles during the festive season—beginning late August and ending December this year. For instance, electronics retail store chain Vijay Sales expects 20% year-on-year sales growth, according to Nilesh Gupta, managing partner. In the urban sector, the information technology (IT) industry, a large formal sector employer, is witnessing jobless growth; therefore, there is muted optimism,” said Ankur Bisen, senior vice-president, retail and consumer products, Technopak Advisors. “Consumer durables has traditionally had a large cash component and the recent government scrutiny in this area will affect consumer behaviour negatively. The companies’ sales expectations surely lead to the question of pricing, which looks tricky at the moment.

Source: Mint August 24, 2017 04:52 UTC