Consumer sentiment for buying festive clothes remain weak: CMAI survey

As many as 24% of the respondents attributed a slowing financial system and inflation to be the highest challenges, it added.
| Photograph Credit score: HIMANSHU VATS

The general shopper sentiments for purchasing garments throughout the upcoming festive season continues to stay weak, in response to the annual pre-festive season survey carried out by the Clothes Producers Affiliation of India (CMAI) amongst its members. 

As per the findings, as many as 63% of the respondents had been anticipating to see the identical or decrease gross sales of clothes and attire in contrast with the final 12 months. Of them, nearly 25% had been anticipating the gross sales to be as little as 75% of the earlier 12 months.

The most important issue impacting the subdued sentiments seemed to be the numerous shift in bigger pockets share of the buyer spending transferring in direction of different avenues of way of life – with 35% of the respondents attributing low expectations to this issue, CMAI stated in an announcement.

One other 24% respondents attributed a slowing financial system and inflation to be the highest challenges, it added.

Amongst the attire classes, males’s put on appears to have been the worst affected, with a 75% of the respondents anticipating girls’s put on and child’s put on to carry out higher when it comes to demand throughout this festive season.

As many as 75% of the respondents felt that the mid-priced manufacturers would do the perfect throughout the season, while solely 18% felt that low-priced manufacturers would do higher.

As many as 52% of the respondents anticipate demand for Indian put on to carry out nicely adopted by informal put on whereas formal put on appears to be out of favour.

As per the survey findings 75.5% of respondents most well-liked offline retail towards 24.5% for on-line retail.

Rajesh Masand, President, CMAI, stated, “Contemplating the sluggish enterprise setting that our trade has skilled prior to now six months, the tendencies usually are not stunning.”

“But, we’re hopeful of not lacking out on the festive spending and count on demand to progressively surge contemplating the marriage season later within the 12 months,” he added.