Revenue-rich goodbye!

In the run-up to the year coming to an end, retailers across the country are witnessing an upswing in their sales. The sales being bagged are giving them a reason to end the year on a positive note.
Retail-Business-Practice

December is a month of festivity and celebration…. Weddings, Christmas and finally bidding a good bye to the year gone by. Last year, the sentiment for shopping at the year end was restrained because of the setting in of the economic slowdown and furthermore because of the terrorist attacks on Mumbai. But the situation is not the same this year. 

Scenario this year
Unlike the West, in India, Christmas is not an immense sales season as compared to other festivals such as Diwali. But, with the wedding season that is on and the increasing expenditure over New Year celebrations, retailers are witnessing an increase in footfalls at their stores. The sales are picking up not just because of the year end celebrations; a New Year signifies a new beginning and people want to buy new wardrobes, new shoes so they can ring in the New Year in that 'new' spirit. So, this is what the retailers have in mind too, they have year end sales so they can replenish their stock for the New Year and put up newer offerings.

Categories doing well
The culture of exchanging gifts with loved ones at the year end has lead to increase in sales. Retailers are witnessing radically higher sales in categories such as perfumes, jewellery, cosmetics, clothing, gifts, decorations, wine, liquor, cookies and imported foods. As put by Harpreet Singh, MD, Fragrance and Flavors, “The sales have been amazingly good for us since people believe in the festive spirit and gifting comes along with the merriment. The more, the better has become the motto of today’s purchaser.” 

Sale augmentation
Retailers are not just witnessing an increase in sales but the sale figures are very significant. In December itself, about 20 per cent and above is the overall average growth that retailers are achieving. Anurag Rajpal, Vice President – Apparel, Spencer’s Retail Limited says, "There is a hike of about 20 per cent and nearing the clearance sales we see a hike between 30 to 40 per cent." Gagan, Owner of a Benetton store, tells, " Ideally the sale increases at the year end and clearance sales are double or triple. Our sales are customer oriented so profits or losses are irrespective to the festive season." 

Ending the year on a good note is a shared sentiment, which holds true for everyone, shoppers and retailers included. And what better way than a year-end rising sales to bid the going year a revenue-rich goodbye.







 

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