Dhanteras boosts consumer sentiment ahead of Diwali

NEW DELHI: If the consumer industry was waiting for a big-bang stress buster after the slowdown pangs during most parts of the year, the auspicious Dhanteras brought in cheer for companies as buyers didn’t disappoint, even when it came to purchase of gold that has seen a strong surge in prices this year.
Car sales, which have been a shadow of blockbuster demand witnessed over past two years, also fired on all cylinders as lucrative discounts and upbeat festival spirit saw people thronging showrooms of companies, such as Maruti Suzuki, Hyundai, Tata Motors and JSW MG. Two-wheelers also had a similar story to tell.
Sales of smartphones, from iPhones to Oppo, stayed strong as was the case with TV sets, with LG and Panasonic reporting good demand for premium, large-screen sizes. “Premiumisation continues to be the flavour of the season with growth coming in from large-screen 4K LED TVs, smart inverter ACs, and other smart appliances,” said Manish Sharma, chairman of Panasonic Life Solutions.
Baljinder Singh, director of Unicorn Infosolutions, Apple’s largest premium retailer in India, said overall sales were seen to be growing 10% over last Dhanteras. “This may have been higher, but demand for the new iPhone 16 model has remained robust since its launch in Sept.”
Tanishq, a leading organised retailer of jewellery, said footfalls started to build up as the day progressed and added that overall sales on Dhanteras appeared on course to surpass last year’s numbers, especially as the auspicious period stretches to around noon on Wednesday.
“The festive season may have taken time to pick up, but it has been gathering pace over past few weeks. On Dhanteras, there has been a lot of interest in purchase of gold coins, jewellery and even diamond jewellery… we are confident to surpass what we did last year in terms of value,” Arun Narayan, VP (marketing & retail) at Tanishq told TOI.
Dinesh Jain, MD, PM Shah group, that runs five gold and diamond stores in Mumbai and caters to budget buyers, said people are buying despite higher rates as they expect prices to risefurther. “But yes, there is focus on light-weight products when compared to last year due to higher prices.”

Maruti Suzuki said car deliveries are at record levels. “Against the near 23,000 units that we sold on Dhanteras last year, we are looking to close with deliveries between 40,000 and 42,000 units this time. Festive season has shaped up well for the industry and some of our models are stocked out,” said Partho Banerjee, senior executive officer for sales and marketing.
Satinder Singh Bajwa, chief commercial officer for JSW MG, said the company’s electric range saw a pick-up in deliveries, especially around new offerings such as Windsor. Tata Motors’ MD for passenger vehicles and electric mobility Shailesh Chandra said while there has been a 30% growth in deliveries in Oct, Dhanteras has seen retail of around 15,000 vehicles.
Footfalls increased as the day came to a close. “This will continue till late night. Customers are buying more of premium appliances and large screen TVs, helped by instant cash backs, easy finance and festival offers,” said Sanjay Chitkara, senior VP of Home Appliances.