DSIJ Mindshare

The Festive Bonanza

It’s that time of the year when Indians tend to get excited, because the flavour turns festive. Starting with Akshaya Tritiya, Navratri, Karva Chauth and Dhanteras, a whole lot of festivals give ample reason for people to shop. “Where should I shop for clothes and apparel” and “What are the best brands to buy?” are the questions that start doing the rounds. No wonder then, that companies and retailers are stepping on each others’ toes in a frenzied melee to lure shoppers with all kinds of offers for a wide variety of products, ranging from LED TVs to clothing and footwear to air-conditioners. Agreed, we all want to stretch our money as far as it will go. But being a wise consumer requires the right information and plenty of practice. Here is how you can get the best out of your money while shopping for the festivities ahead. Keep your worries aside, and give in to your indulgence.

The Shopping Begins
Just as you do your homework before making any other important decision, it is a good idea to do your research before you stroll into the shopping markets. This may include visiting shops, malls, and auctions, talking with sales persons and dealers, and reading price guides, catalogues, books and magazines on the items that you are interested in buying. The more you know, the less likely you are to buy something that isn’t what you thought it was or pay more than you should. It is worth noting that sellers also introduce various offers and schemes during this time so as to woo more and more customers. So, while you are out there in the market, there is no harm in looking for that extra benefit while shopping for stuff you had planned for.

“Shoppers Stop will host the ‘Choose Your Own Gift’ festival from October 1, 2011 to January 1, 2012, during which Shoppers Stop First Citizen Members will earn anything between 3571 and 17143 bonus reward points on purchases between Rs 30000 and Rs 100000 respectively. Purchases with First Citizen Citibank Credit Card will earn additional reward points of 30 per cent and 35 per cent on shopping of Rs 30000 and Rs 100000 respectively,” says Vinay Bhatia, Senior Vice President, Marketing & Loyalty, Shoppers Stop.
Now, let’s take the case of Westside, the clothing and apparel retail chain. In addition to the fabulous festive merchandise, shoppers can get a chance to win prizes like never before at the company outlets. On shopping for Westside merchandise worth Rs 2500 and above between October 1-30, 2011, shoppers can enter the Westside Sweepstakes and get a chance to play for daily and weekly prizes, and also stand a chance to win a sleek, luxurious Audi A4. “In addition to this, two lucky winners will also stand a chance to win Harley Davidson Iron 883 bikes. Also, lucky customers could win iPads on a daily basis, as well as mobile phones on an hourly basis”, says a company spokesperson. Now, doesn’t all this add much more flavour to your shopping experience?

Those who are planning to buy electronic gadgets needn’t be disappointed, as prestigious brands like Sony have come out with attractive offers to make your shopping experience that much sweeter. “We are offering hefty discounts to our customers. Under the scheme, when a customer purchases any Bravia along with a Sony home theatre system, he/she gets a chance to save up to Rs 4000. Plus, we are also offering assured gifts on LED TVs,” says Riya Soni Sawhney, Senior Executive, Sony.[PAGE BREAK]
A Global Phenomenon
A buying spree during any festival is not unique to our country, but is truly a global trend. What differs, of course, is the timing. In India, for instance, the highest recorded sales are during Dusshera and Diwali, while in Europe and the USA the peak is during Christmas. In the Middle East, shopping sprees happen during the month of Ramadan. Psychologically speaking, why do most of us tend to splurge in such a fashion only during a festival? The real reason behind people turning into seasonal shopaholics and often regretting it later can be attributed to cultural adrenaline. A festival means celebration, and celebration requires items that are to be used during that time, which include gifts for kith and kin and friends. So naturally, purse strings are loosened during such times.

Word Of Caution
All that glitters is certainly not gold. Going by that maxim, everything that is sold during the festive seasons is not cheap. Therefore, you must consider your options seriously before stepping into your shopping shoes. During the Diwali and Navratri season, many products are treated as purchases of compulsion and customers have to earmark a fixed amount each year for them. This includes clothes, shoes, property, decoration items, utensils, gold jewellery, etc. “In fact, I used to waste a lot of money during the festival season thinking that all these gifts and shopping would bring more and more happiness, besides making it special for my loved ones. However, I have realised that a festival means enjoying with family and friends, and not necessarily buying useless items every season. Hence, now I only focus on those items which I cannot do without during this season. Also, starting early has helped me, since later on the rush would increase in the market, and people would not be able to shop peacefully,” says Uday Singh, a regular shopper and member of various retail stores’ clubs.
This is more like a ritual than just shopping, and customers often tend to buy more than their budgets will allow. Due to the high tempo of sales during the festive season, companies usually withdraw all offers on these products, as they know that in any case they can easily achieve their sales targets. In such a situation, it is always better to show restraint and shop up to a pre-defined limit in order to fulfil the ritualistic obligations.

DSIJ MINDSHARE

Mkt Commentary28-Mar, 2024

Mindshare29-Mar, 2024

Multibaggers28-Mar, 2024

Interviews28-Mar, 2024

Multibaggers28-Mar, 2024

DALAL STREET INVESTMENT JOURNAL - DEMOCRATIZING WEALTH CREATION

Principal Officer: Mr. Shashikant Singh,
Email: principalofficer@dsij.in
Tel: (+91)-20-66663800

Compliance Officer: Mr. Rajesh Padode
Email: complianceofficer@dsij.in
Tel: (+91)-20-66663800

Grievance Officer: Mr. Rajesh Padode
Email: service@dsij.in
Tel: (+91)-20-66663800

Corresponding SEBI regional/local office address- SEBI Bhavan BKC, Plot No.C4-A, 'G' Block, Bandra-Kurla Complex, Bandra (East), Mumbai - 400051, Maharashtra.
Tel: +91-22-26449000 / 40459000 | Fax : +91-22-26449019-22 / 40459019-22 | E-mail : sebi@sebi.gov.in | Toll Free Investor Helpline: 1800 22 7575 | SEBI SCORES | SMARTODR