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Festive Cheer: India’s Discretionary Spending Sees Sharp Rise
India’s festive season has brought a smile to businesses, with a notable surge in discretionary spending. Restaurants, pubs, and entertainment platforms are enjoying an 8-20% increase in sales compared to last year.
This uptick is attributed to various factors, including:
No GST Cut on Dining Doesn’t Deter Foodies: Despite no reduction in GST on dining, restaurants have seen a significant rise in footfalls.
Entertainment Sector Booms: BookMyShow reported higher participation in music, comedy, and large-format shows, indicating a strong rebound in out-of-home entertainment.
Cinema Footfalls Increase: Lower GST on cheaper movie tickets has led to increased cinema footfalls.
Key Highlights:
Premiumization Trend: Consumers are opting for premium dining and drinks, aided by long weekends and back-to-back festivals like Dussehra and Diwali.
Hospitality Sector Benefits: The festive season has been beneficial for the hospitality sector, with many businesses reporting increased sales and footfalls.
Strong Rebound: The surge in discretionary spending marks a strong rebound in out-of-home entertainment and hospitality sectors.
Industry Insights:
Speciality Restaurants: Reported a 20% increase in walk-ins during Navratri-Durga Puja, continuing into the Diwali season.
BookMyShow: Saw healthy consumer participation, translating into steady growth across music, comedy, and large-format shows.
Casual Dining Chain Burma Burma: Reported a 10% year-on-year increase in sales .
Sudheendra Kumar ( Mobile /WhatsApp: 91-9820088394)
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