Diwali festival is also a big economic event in India. People consider shopping auspicious on this occasion, so most people plan to shop on this day for many months. This also brings vibrancy to the market and benefits every small and big business person.
The Confederation of All India Traders estimates that there will be a business of Rs 4.25 lakh crore this Diwali across the country. Big and tier-1 and tier-2 cities are expected to have good business this year. People are also likely to spend on different goods.
These Goods Can Be Sold The Most
Tata Fintech’s Market Brew has researched the amount spent on which goods. According to this, if there is a business of Rs 100 on Diwali in the country, Indians can spend most of it on automobiles, electronic goods, etc. This expenditure can go up to Rs 25.
After this, Indians are expected to spend Rs 13 on food and groceries. Gold is very high this year, so up to 9 rupees, or 9 percent, can be spent on jewellery.
For the rest of Diwali, people can spend 12 rupees on clothes or textiles, 4 rupees on dry fruits and sweets, 3 rupees on home decor, 6 rupees on cosmetics, 8 rupees on mobiles and gadgets, 3 rupees on puja items, 3 rupees on kitchen items, 2 rupees on bakery products, 8 rupees on gift items, and 4 rupees on furniture.
Business Of 1 Lakh Crore Will Increase
Market Brew estimates that this year, Diwali can have a turnover of 1 lakh crore rupees more than last year. In 2023, there was a turnover of about 3.5 lakh crore rupees. The festival of Diwali is also celebrated with great pomp among traders because they start their new accounts on this day.
