Diwali Outlook 2023: Traders Gear Up for Rs 4.25 Lakh Crore Turnover
The Confederation of All India Traders (CAIT) predicts a significant boost in retail sales this Diwali, with an anticipated turnover of Rs 4.25 lakh crore. Delhi alone is expected to generate Rs 75,000 crore in business. Preparations are in full swing acr
DiwaliRetail SalesCaitFestive SeasonBusiness TurnoverReal EstateOct 27, 2024
Preparations for Diwali and related festivities are in full swing across Delhi and other parts of the country. The Confederation of All India Traders (CAIT) has announced that traders are expecting a turnover of approximately Rs 4.25 lakh crore nationwide during this Diwali season.
Delhi Business Rs 75,000 Crore
The traders' body noted that Delhi alone could see business worth around Rs 75,000 crore. Chandni Chowk MP and CAIT Secretary General Praveen Khandelwal stated that grand preparations are underway in markets across Delhi and nationwide for Diwali and the festive season.
Khandelwal shared that shops in metropolitan cities, as well as Tier 2 and Tier 3 cities, towns, and villages, will be decorated in line with the Diwali theme. Emphasis will be placed on colourful lights, rangolis, and other decorations to create a festive atmosphere and attract more people to the markets.
Items on Demand
Anticipating a sharp increase in demand, traders have already begun stocking various items such as gift items, clothing, jewellery, electronics, mobile phones, furnishings, decor, puja materials, rangolis, deity idols and pictures, ready-made garments, toys, food items, confectionery, electrical goods, consumer durables, and more.
Offers to Attract Customers
CAIT National President B.C. Bhartia added that traders are also considering discounts and promotional offers to attract customers. Offers like 'Buy One-Get One' or special Diwali discounts are likely to entice shoppers.
Security and Traffic Control
Given the heavy crowds expected during Diwali, traders have requested special arrangements from the police and local administration for security and traffic control. Trade associations are also planning to deploy additional private security guards.
Competitive Strategies
Khandelwal emphasized that markets across Delhi and India are fully prepared for Diwali, actively implementing new strategies to compete with the challenges posed by e-commerce. These efforts are set to achieve substantial business this festive season.
About CAIT
The Confederation of All India Traders (CAIT) is a national-level trade body representing the interests of traders and small businesses across India. It plays a crucial role in advocating for the rights and welfare of traders and promoting the growth of the retail sector in the country.
Conclusion
With high expectations and extensive preparations, the retail sector is gearing up for a prosperous Diwali season. Traders are hopeful of achieving significant business turnover, driven by festive offers, attractive decorations, and increased consumer spending.
Frequently Asked Questions
What is the expected turnover for Diwali 2023?
Traders are expecting a turnover of approximately Rs 4.25 lakh crore nationwide during this Diwali season, according to the Confederation of All India Traders (CAIT).
How much business is Delhi expected to generate this Diwali?
Delhi alone is expected to generate Rs 75,000 crore in business this Diwali, as stated by CAIT Secretary General Praveen Khandelwal.
What items are in high demand this Diwali?
Traders are stocking various items such as gift items, clothing, jewellery, electronics, mobile phones, furnishings, decor, puja materials, rangolis, deity idols and pictures, ready-made garments, toys, food items, confectionery, electrical goods, and consumer durables.
What promotional offers are traders considering?
Traders are considering discounts and promotional offers such as 'Buy One-Get One' or special Diwali discounts to attract customers.
What security measures are being taken for the Diwali season?
Traders have requested special arrangements from the police and local administration for security and traffic control. Trade associations are also planning to deploy additional private security guards.
Related News Articles
₹4 Crore Fraud Accused Re-Arrested in Gopalganj
Guddiya, who was initially arrested in Faridabad, Haryana, managed to escape from police custody while being transported to Pune. However, she has now been rearrested in Gopalganj, Bihar.
Baba Siddique's Murder: Lawrence Bishnoi Gang Claims Responsibility
The Lawrence Bishnoi gang has taken credit for the murder of former minister and NCP leader Baba Siddique. The gang claims the killing was a result of Siddique's alleged connections with Bollywood actor Salman Khan and underworld figures Dawood Ibrahim an
Bombay High Court Orders Transfer of Orra Realtors Fraud Case to Crime Branch
The Bombay High Court has directed the transfer of the Orra Realtors fraud case from the Economic Offences Wing (EOW) to the Crime Branch, criticizing the EOW for its lack of thoroughness in the investigation.
Mumbai's Political Pulse: 2024 Lok Sabha Elections Results and Predictions
The financial capital of India, Mumbai, is a crucial battleground in the 2024 Lok Sabha elections. With six parliamentary constituencies, the city's political landscape is set to witness a thrilling contest.
Yudhishthir Sharma of Didwana Appointed as Member of Real Estate Rajasthan
Yudhishthir Sharma, a resident of Didwana, has been appointed as a judicial member of the Rajasthan Real Estate Appellate Tribunal, Jaipur, for a term of 5 years.
Maharashtra Government Eases Stamp Duty Penalty: What Homebuyers Need to Know
The Maharashtra government has reduced the penalty for underpayment of stamp duty from 2% to 1% to help recover dues and encourage homebuyers to pay the correct amount