Consumer spending is on the rise during the Diwali festival, with a noticeable increase in demand for premium products across various sectors such as clothing, jewellery, automotive, and high-end real estate.

Despite macroeconomic challenges, consumers are prioritizing luxury items, leading to a significant boost in sales for luxury brands. The festive season has witnessed strong purchases, ranging from fast-moving consumer goods to luxury vehicles and designer jewellery. Companies are reporting steady sales growth, indicating a shift towards high-end consumption.

This trend persists even in the face of rising inflation, with the Consumer Price Index (CPI) inflation rate reaching 5.49% in September, primarily driven by escalating food prices at 9.24%. As consumers remain resilient in their shopping habits, the demand for upscale purchases continues to thrive, highlighting a strong appetite for luxury goods during this festive period.