Festive shopping during Dhanteras is set to break previous records, with total retail trade across India expected to cross Rs 1 lakh crore. Strong consumer spending is being witnessed across multiple categories, including electronics, utensils, home decor, and jewellery. According to estimates by the Confederation of All India Traders (CAIT), overall festive sales could touch this historic benchmark, supported by robust demand in both urban and rural markets. The precious metals segment alone is projected to account for more than Rs 60,000 crore of the total business volume.
Precious Metals See Strong Demand Despite High Prices
Buying gold and silver on Dhanteras is considered highly auspicious, driving dense crowds to jewellery outlets across the country. According to the All India Jewellers and Goldsmith Federation (AIJGF), consumer enthusiasm remains unhindered despite high market prices for gold and silver. However, purchasing patterns have evolved this year, with buyers increasingly preferring lightweight ornaments over traditional heavy jewellery pieces to manage their spending effectively.
Surge in Demand for 14-Karat Gold and Silver Artifacts
Jewellers report a notable shift toward 14-karat and 18-karat gold jewellery items, which offer affordability without compromising on traditional gifting. Alongside lightweight gold, silver coins, decorative items, and figurines featuring auspicious motifs such as turtles, fish, and elephants are witnessing high traction among shoppers. This trend highlights how consumers are balancing cultural traditions with prudent budget management amidst elevated bullion rates.
Service Sector Growth and Comparison with Last Year
The festive economy is not only driving merchandise sales but is also delivering a major push to the services industry. During the previous year's festive season, total national trade reached approximately Rs 6.05 lakh crore, which comprised Rs 5.40 lakh crore in goods sales and Rs 65,000 crore from the services segment. For the current season, service sector revenues are anticipated to surge between Rs 80,000 crore and Rs 1 lakh crore, bolstered by sectors such as logistics, transportation, hospitality, tourism, catering, and event management.
Focus on Made in India Products and Local Traders
A prominent feature of this season's trade is the preference for domestically manufactured goods, encouraged by national initiatives such as Vocal for Local, Made in India, and Atmanirbhar Bharat. Retail trade bodies noted that the preliminary business projections are compiled from feedback provided by state-level merchant associations and market monitoring in small towns and rural areas. Comprehensive final data will be released after evaluating actual sales performance and footfalls.
