Gold, cars, and smart electronics drive strong Dhanteras sales amid festive cheer

In a promising upturn for India’s consumer industry, the festive occasion of Dhanteras saw robust sales across various segments, bringing relief to companies that had been grappling with a slow market. With a marked uptick in consumer purchases, high-value items like gold, automobiles, and premium electronics recorded significant demand, signaling a potential rebound from the sluggishness seen earlier this year.

Gold, traditionally a preferred Dhanteras purchase, attracted high interest despite a surge in prices. Leading jewelry brand Tanishq noted rising footfalls, with Arun Narayan, VP of Marketing and Retail, observing an increase in demand for gold coins, jewelry, and diamonds. “We are confident to surpass what we did last year in terms of value,” he said, attributing the rise to customer interest in lighter jewelry pieces amid higher prices.

Automobiles experienced a surge in showroom visits, fueled by attractive discounts and the festive mood. Major carmakers like Maruti Suzuki, Hyundai, Tata Motors, and JSW MG reported robust sales. Maruti Suzuki witnessed record-breaking numbers, with sales estimated between 40,000 to 42,000 units—a substantial jump from last year’s 23,000 units. Partho Banerjee, Senior Executive Officer for Sales and Marketing at Maruti Suzuki, told TOI, “Festive season has shaped up well for the industry, and some of our models are stocked out.”

JSW MG’s electric range gained traction, with its new model Windsor seeing increased deliveries. Tata Motors reported a 30% growth in October, with around 15,000 vehicle sales on Dhanteras. Shailesh Chandra, MD of Tata Motors Passenger Vehicles and Electric Mobility, attributed the rise to “strong retail demand.”

The electronics segment mirrored this trend. Popular smartphones, from iPhones to Oppo, saw sustained demand, while premium, large-screen televisions recorded strong sales. Manish Sharma, Chairman of Panasonic Life Solutions, noted that “Premiumisation continues to be the flavour of the season,” with growing interest in high-end 4K LED TVs, smart inverter ACs, and other smart appliances. LG and Panasonic saw high demand in premium categories, with consumer preference bolstered by cashbacks, easy financing, and festival offers.

Apple’s premium retailer in India, Unicorn Infosolutions, registered a 10% increase in sales over the previous Dhanteras, driven by the strong demand for the newly launched iPhone 16. Footfalls remained high through the evening, with Sanjay Chitkara, Senior VP of Home Appliances, commenting, “This will continue till late night. Customers are buying more of premium appliances and large-screen TVs.”Dhanteras has effectively revived consumer confidence, pushing sales across multiple sectors and offering companies a significant boost in a year that has seen considerable economic strain.

with inputs from TOI
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