LocalCircles: 72% of Diwali shoppers pick fashion, spending down 6%
Diwali shopping is here, and a new LocalCircles survey says around 72% of households planning festive purchases intend to buy clothing, footwear or accessories.
But even with all the festive excitement, people are spending about 6% less than last year.
Diwali spending forecast 1.97L/cr
With prices rising and borrowing getting tougher thanks to higher RBI rates, families are focusing on what they really need.
Beyond fashion finds, many plan to buy home appliances and furniture (45%), gourmet food and gifts (39%), mobile phones, consumer electronics, and gadgets (22%).
Most folks (83%) are dipping into their savings for Diwali shopping this year.
Overall festive spending is expected to drop from ₹2.10 lakh crore last year to ₹1.97 lakh crore now as everyone keeps a closer eye on their budgets.