India is the land of festivals, which we celebrate with the utmost value and joy. With the ultimate festive season making its way through our lives yet again, our happiness knows no bounds. Starting from Dussehra, a long procession of occasions and festivals follow to extend this joyous journey that ends after Diwali.
To keep up with the festive spirits, we do not shy away from signing a few big cheques to mark the occasion with gifts. From buying jewellery to mark the auspicious occasions, to upgrading the utility items in our households, we look forward to the festive season sale every year.
The Annual Rise in Purchase of Consumer Goods
Did you know that the festive season records a total of 25% of the annual sales as the consumers make their biggest purchases of the year? Last year, a total of 9-12% hike was observed by the retail chains and consumer brands in India during the festive season. This expenditure in festive season impacts on loans as well.
Also, with the lockdown commencing at the beginning of 2020, people have started to appreciate the productivity and efficiency of various products, including smart home appliances. The year has demanded people to work-from-home without any domestic help. Therefore, a set of big purchase on appliances like washing machine, vacuum cleaners, laptops, air purifiers and other cooking appliances are highly expected this festive season.
Shopping During the Festive Season
Shopping during the festive season has been a tradition that never fails to benefit customers. Buying gifts for your family and friends and upgrading home appliances and gadgets are some of the essential parts of celebratory shopping. Why? Because of incredible festive season discounts of course.
Additionally, industries are witnessing encouraging signs of revival, especially, the consumer goods sector. The earlier part of the year saw a significant dip in the high-end premium purchases, but customers are buying away given the excellent deals by multiple e-commerce websites during Diwali.
Furthermore, lending institutions are aiding consumers to leverage consumer durable loan schemes that help them enjoy the festive season without a cash crunch. With extremely flexible consumer durable loan EMI solutions and affordable interest rates, customers can quickly avail consumer durable loans to ensure a smooth spend this festive season.
Overall Impact of Festivals on Loans
With all the unprecedented events that occurred this year, many of us want to make the most out of the festive season. Also, being in the constant comfort of our homes encourages us to upgrade its ambience to suit a better sense of comfort, which requires a few big-ticket purchases.
The Bottom Line
With a wide range of consumer durable loans available by top lending institutions like Tata Capital, consumers have an ocean of smart opportunities to avail financial assistance. We offer quick online and offline finance options with minimal paperwork and attractive interest rates.
So, what are you waiting for? Apply for finance at Tata Capital and make the most of this festive season.