Diwali, one of India’s biggest festivals, is a huge contributor to the growth of the Indian economy. Let’s see some interesting statistics about Diwali economics in India.
The retail markets in India recorded sales worth ₹3.75 trillion during the festive season in 2023, according to the Confederation of All India Traders (CAIT).
Research conducted by Amazon Ads and YouGov revealed that 62% of shoppers are planning to spend more this Diwali as compared to last year.
The study found that consumers are thinking about the festival in advance with 47% of consumers thinking about it before July and 78% before September.
A survey by the community platform Local Circles revealed that the urban population of the country is set to spend ₹1.85 trillion this year.
While 40% of households are planning to spend on home decor, 38% are likely to spend on beauty and fashion.
Last but not least, an Economic Times study revealed that consumers will now have to pay 14% more on average for the most gifted products on Diwali like chocolates, dry fruits, etc.
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