Lured by discounts and flush with bonuses, consumers are ready to spend during DashainSales of consumer electronic goods peak during the month-long festival season, retailers say.
“Since a good brand of refrigerator with multiple features is costly, I waited for Dashain to get a cash discount and buy the latest model,” said 39-year-old Aryal who works in a bank.
Like Aryal, many consumers from across the country tend to wait for the festival season to purchase consumer goods, largely driven by the attractive discounts that most retailers provide. Sales of televisions, refrigerators, washing machines and microwave ovens are already seeing an upswing, according to dealers. These purchases are also driven by the bonuses that most companies offer their employees during the month-long Dashain-Tihar festival, increasing their purchasing capacity.
Shailendra Jha, senior manager at CG Electronics, said that sales of consumer electronic goods peak around a week or 10 days before Bijaya Dashami and continue till Chhath.
“Dashain accounts for 25-30 percent of our annual sales,” said Jha. “Anticipating this sales growth, electronic brands introduce new products and models during the festival time.”
The festival is also generally a time when the inflow of remittance from expatriate workers increases, providing a bigger disposable income for consumers, said Bishnu Thapa, manager at Him Electronics.
“Dashain accounts for up to 40 percent of our annual sales,” said Thapa. “Customers go for moderately priced electronic goods, whose prices range from Rs20,000-Rs40,000. But given the greater spending capacity and decreasing prices of electronic goods due to continuous upgrades in technology and competition, goods are now increasingly becoming affordable for customers, especially the middle-income people.”
According to economist Keshab Acharya, during Dashain, the economy is driven by supply rather than demand.
“Dashain is also known as the festival of expenditure due to cultural pressures, where one feels obligated to spend on garments, goats and other items,” said Acharya.
The national economy gets a boost, as the majority of Nepalis celebrate Dashain across the nation in their own way.
“Everyone, from people in the middle income level to lower incomes, manage to celebrate the festival by following their own respective traditions,” he said.