After 2-yr pandemic thrift, 'revenge spending' likely this festival season

The festival season kicks off with Onam end-August right through Diwali in October

Consumer companies across retail, fast-moving consumer goods (FMCG), and consumer durables expect demand revival this festival season after two years of weak sales.

With semiconductor shortage having eased, passenger vehicle sales are also expected to pick up, helping automotive (auto) makers increase output.

The FMCG sector continues to be burdened with weak volumes as inflation pushes up the prices of goods, afflicting consumption.

The apparel sector in the urban markets has witnessed a sales uptick from April. The positive sentiment is expected to sail through the festival months.

However, rural demand for apparel continues to lag behind as buyers prioritise their household budgets by