weizhi fashion co.ltd

Titleweizhi fashion co.ltd
ProductsGamrents, Fabric, Stationery
Company typeBuying Office
AddressNeela Rasta 345road, Delhi, Delhi, India
ProductsGamrents, Fabric, Stationery
Num of employees11 - 50 People
Establish year1991
Contact personmis vij
MarketsSouth America
SalesUS$5 Million - US$10 Million

Festive shoppers flock to stores for gold, garments; uptick in home sales

Sat, 16 Oct 2021 16:05:00
Pune: The high tide of shoppers witnessed in the lead-up to Dasara didn’t recede even a day after the festival, with Puneites thronging shops across the city in what some traders called the biggest shopping spree since the pandemic began.
People splurged on gold, clothes and even homes across Pune. Local traders’ bodies expect the rush to continue till Diwali and even beyond, when the wedding season is slated to begin.
Some attributed the rush to the 7% hike in GST on readymade garments, set to come into effect on November 1.
Prerna Goyal, a homemaker, said shopping at brick-and-mortar stores was a welcome change from buying things online. “Festivals are not only about rituals at home, but also the general happy buzz outside. Going to a shop with the entire family, trying out various outfits, haggling with shopkeepers, eating out afterwards – all of these are an essential part of the festive season. My entire family is vaccinated. We wore masks, took precautions and enjoyed Navaratra shopping,” Goyal said.
Fatehchand Ranka, president of Federation of Trade Associations of Pune (FTAP) and head of a state association, said people were buying gold in the form of jewellery and as an investment.
“This will go on till Diwali. This is the best festive season we have had since the pandemic started,” Ranka said.
Seema Belokar, a Katraj resident who bought gold ornaments on Laxmi Road, said, “There’s relief mixed with the enjoyment of the festive atmosphere. After a long quarantine, it feels nice to see so many people going about their business on a bustling Laxmi Road,” she said.
Ranka said he expects the shopping spree to continue till the wedding season, which starts 15 days after Diwali. “So instead of shopping twice, some families are buying in bulk now,” he said, adding that the impending rise in GST on readymade clothes too played a role. “People must be thinking why wait till next month when they can buy clothes for a lower price now,” he surmised.
Meanwhile, there was also an uptick in home sales in the city. Anil Pharande, president, Credai-Pune Metro, credited this to vaccination drives, low interest home loans, and stamp duty benefits for women
“People have realised the importance of owning a home during the pandemic; those with their own house are moving to bigger homes. A report by Credai-Pune Metro and CRE Matrix recently revealed that Pune’s real estate sales have grown by almost 8%, with a 27% increase in the value of sales, in 2021 when compared to 2019. We expect the festive surge in demand to gain momentum in the coming months,” Pharande said, cautioning that rise in input costs – steel, cement and PVC – may cause prices to increase.
Pharande said good offers by developers too fuelled the rise in homebuying.
“This year, along with homes in good locations, we offered office spaces at an ultramodern commercial complex coming up in Kothrud. We saw an equally good response in the commercial space,” said Vishal Gokhale, CMD of Gokhale Constructions, said.
Shravan Hardikar, the state inspector-general of registration and stamps (IGR), said high-value property registrations in the city have been on the rise since after ‘Pitrupaksh’ ended on October 6, and expects the trend to continue till Diwali. “People did not buy homes during Pitrupaksh. However, registrations started picking up after the ritual. We compile the data monthly and will know the exact figures after this month-end,” Hardikar said.
The only low point this festive season was seen in vehicle sales. A combination of restrictions and global semiconductor shortage has caused the registration of vehicles, especially cars, to drop drastically before Dasara. As per RTO figures, car registrations dropped by 15% in Pune and 32% in Pimpri Chinchwad; two-wheeler sales increased by 5% in Pune and plunged by 31% in Pimpri Chinchwad.