Traders are expecting a huge rally in the market this festive season. This is the reason why traders have increased the stock in their showrooms by 14 per cent this time as compared to the last 5 years. Traders believe that people who bought less during the lockdown will save the money they saved this Dussehra-Diwali necessarily. This will boost the market. Statistics show that demand for diesel, electricity and cars had already picked up after a sharp decline in the June quarter. Demand for this speciality has grown significantly as a result of recent corporate scandals.
Praveen Khandelwal, general secretary of the Confederation of All India Traders (CAT), an organization with more than 70 million traders, said small traders have increased their stock to 14 per cent this season from 10 per cent last year so that they do not face any problem. The organization estimates that Indians have saved Rs 1.5 lakh crore since the March lockdown. Which they will use this festive season.
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A major retailer of electronics and home appliances believes that this festive season will be better than last year. Consumers are starting to go out shopping now as compared to the last 7 months. E-commerce platforms Amazon and Flipkart have stopped offering discounts on their annual sales. Flipkart says its sales have tripled this year compared to last year. While a further 35 per cent sellers have joined it. It will boost the economy in the time to come. Hindustan Unilever remained the most profitable company in the September quarter.
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Here in the real estate, the market is witnessing a bullish atmosphere with the improvement in the third quarter across the country. According to a recent index by Knight Frank, Ficci and Naredco, 50 per cent believe the launch of new projects will increase in the next six months. 66 per cent believe home sales will double compared to the September quarter due to safe investments.
For the first time in 5 years, traders have increased their stock in the shop by 14 per cent, with the remaining Rs 1.5 lakh crore expected to hit the market.
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