1 in 3 families may splurge over Rs 10,000 this festival season: Survey

LocalCircles report said CMIE had reported that the consumer sentiments decreased in August after rising in July

One in three households are expected to spend over Rs 10,000 this festival season, with footfall in stores rising 20 per cent, according to a survey by LocalCircles. 

The spending this year is likely to exceed $32 billion. “Generally, these are households from upper middle-class or upper-class families along with a middle-class families making a major purchase during the festival season,” said the LocalCircles survey. “It is common for families to plan their major purchases during the festival season as many consider it to be auspicious.”

LocalCircles said attention must also be paid to the 35 per cent respondents in