‘Real Sparkle Of A Diwali’: Vijay Sales’ Nilesh Gupta Expects Huge Surge In Demand Led By GST Reforms

This year's festive season is shaping up to be a "real sparkle of a Diwali", with sales figures reaching levels not seen in many years, according to Nilesh Gupta, Director, Vijay Sales. The strong demand is driven by healthy consumer sentiment that has been fuelled by the recent Goods and Services Tax (GST) rate cuts.

The leading consumer electronics retail chain expects “bumper Diwali” sales. Gupta underlined that the buying pattern would continue after the festive season as well.

“It's turning out to be a real sparkle of a Diwali, something which we have not seen in so many years.  I think overall it looks like a bumper Diwali and most importantly, it is not going to stop at Diwali. The buying pattern would continue beyond Diwali too,” he said during a conversation with NDTV Profit. 

He described the current consumer mood as exceptionally positive. 

“Primarily, the reason is that the sentiments are running high. The GST cut has made all the difference. I think even earlier, the sentiments were quite positive, but the GST cut has all of a sudden got consumers in a frenzy to buy,” he said.

“It’s not just about the capacity to buy; it’s about the sentiment and interest to buy. That interest has come back to our category, and that is what I feel is here to stay,” Gupta added.

This trend is accompanied by an unprecedented surge in demand for high-end, large-screen televisions. 

“We’re selling 200 to 300 of these large-screen TVs daily, something unheard of. We used to sell once in six months or so,” he said. 

He noted that 65 and 75-inch TVs have become routine purchases, with strong sales for 85 and 95-inch models as well.

The festive cheer is not limited to the premium segment. Gupta emphasised that growth is visible across all price points. 

"It is happening at both levels, at the belly of the pyramid also and the upper limit," he stated. For instance, the sweet spot for mobile phone purchases has shifted upwards from the Rs 10,000-15,000 bracket to Rs 15,000-25,000.

“Yes, in terms of percentage, the growth is more prominent in premium products.”

Dishwashers are emerging as a new household staple, particularly in metro cities. Gupta predicted that dishwashers could soon become as common as washing machines.

“A dishwasher will become just like a washing machine. When you set up a house, a dishwasher will also be on the shopping list," Gupta predicted.

Robotic vacuum cleaners and high-quality Bluetooth speakers are also seeing a major uptick in interest.

Even categories like laptops, which were thought to be losing ground to smartphones pre-COVID, are witnessing a renewed demand, he said. This is driven by the advent of AI-powered models and more powerful chipsets. 

Meanwhile, smartphones remain an "evergreen product," with frequent launches from major brands continually fuelling an upgrade cycle, according to Gupta.