Indian shoppers favor essentials as price pressures dent discretionary spending
Business
Lately, Indian shoppers are being extra careful with their money, choosing essentials over splurges.
Rising prices, thanks to things like higher oil costs and global tensions, are making people think twice before buying nonessentials.
Even though there's been a ceasefire abroad, shaky job prospects and low confidence are keeping wallets shut.
Brands roll out affordable options
Luxury products just aren't flying off the shelves right now. Satyaki Ghosh from Raymond Lifestyle says this dip started in mid-March, though he hopes wedding season might help a bit.
To keep up, brands are rolling out more affordable options instead of big discounts, since most folks want value for money these days.