Festive Cheer: Dhanteras Sparks Record Sales and Enthusiasm Across Markets

Dhanteras ushers in a rush of festive shopping, rejuvenating markets with significant sales in gold, silver, and automobiles. Industry experts anticipate sales will soar to Rs 50,000 crore nationwide. Despite rising gold prices, consumer enthusiasm remains unbridled. Retailers also see a boost from the 'Vocal for Local' initiative.

The five-day festival season, starting with Dhanteras on Tuesday, has injected vitality into markets, with customers eagerly purchasing gold, silver, utensils, and other utility items. Auto dealers, capitalizing on special discounts, are also reveling in heightened business activity. The retail sector is poised for a notable surge in sales.

In Delhi, bustling markets like Chandni Chowk, Dariba Kalan, and Sadar Bazaar experienced a spike in foot traffic as shoppers sought lucrative Dhanteras deals. The Confederation of All India Traders (CAIT) has forecasted the nationwide retail trade during Dhanteras to amount to approximately Rs 50,000 crore.

Kumar Jain, spokesperson of the India Bullion and Jewellery Association, hailed the event as generating unprecedented business. He mentioned that despite rising gold prices, sales remain robust, with Zaveri Bazar in Mumbai expecting Rs 200 crore in transactions. Traditional purchases align with celebrations, from gold and silver jewelry to cars and electronics.

The automobile sector, benefiting from enhanced customer interest due to festival discounts on certain models, has noted significant sales spikes. Ajay Agarwal, Chairperson of FADA Delhi, shared that the Delhi automotive market witnessed sales 1.5 times higher than last month, attributing the increase to coinciding festivals like Navaratri and Diwali.

Festival season typically prompts a rise in gold purchases due to its auspicious significance. Vinnaayak Mehta from The Infinity Group emphasized this tradition, noting the cultural importance of making purchases on Dhanteras.

The day symbolizes reverence, with shoppers making auspicious purchases such as jewelry, electronics, and vehicles. As Dhanteras lends cheer to markets, the anticipation for Diwali promises even greater vibrancy, further boosting 'Vocal for Local' initiatives. (ANI)

(With inputs from agencies.)