This Dhanteras saw a vibrant yet cautious shopping season across India, with consumer sentiment both pepped up by tradition and tempered by high prices. In major cities like Lucknow and Indore, markets were bustling, especially in jewelry stores, automobile showrooms, and electronics outlets. Silver emerged as a popular choice, witnessing a 33% increase in sales, while gold purchases faced a 15% decline due to elevated prices. However, some retailers, including Tanishq, expected strong sales growth over last year.

The automobile sector reported record numbers, with Maruti Suzuki and Tata Motors experiencing a surge in deliveries. Maruti Suzuki projected sales between 40,000 and 42,000 units, a substantial increase from 23,000 last year. Electronics also saw a boost, as discounted offers on televisions and air conditioners drove a 15% increase in sales.

However, middle-class and budget-conscious shoppers showed mixed responses, opting for lightweight jewelry or shifting to more affordable silver items. Major markets like Chandni Chowk observed a 30-40% drop in foot traffic, as lower-income buyers exercised caution.

In e-commerce, Amazon India noted a five-fold surge in luxury fashion purchases, especially in gold and diamond jewelry, highlighting the strong demand among higher-income segments. Overall, while gold sales fell by 15-16% to an estimated 25-30 tonnes from last year’s 30-35 tonnes, the broader festive spirit kept the retail market energized on Dhanteras, with consumer adaptation and spending flexibility evident in choices across income groups.

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