The Hindu Business Line : Retailers see 15% sales growth this festival season

“The lull period of the last six to eight months has resulted in pent-up demand that will be good for us,” says Mr K.E. Venkatachalapathy, COO, Mega Mart, the value retail chain of Arvind Brands. He expects same store sales growth to jump by at least 15 per cent.

Mr Rajesh Seth, Vice-President, Marketing, Customer Experience Management for Central and Brand Factory (both retail chains of Pantaloon Retail), is ‘extremely positive about the sales outlook for the coming season.’

The retail chain is expecting sales growth in excess of 10 per cent, in some outlets up to 20 per cent over the corresponding period last year, he says.

In fact, it is planning to open four more outlets over the next six weeks — one each in Indore, Mumbai, Bangalore and Ahmedabad.

Pantaloon’s Brand Factory will have a presence in two more locations soon — one each in Mumbai and Kolkota.

The Bangalore-based Prestige Group, which threw open its Forum Value Mall about a month ago, expects about 80-85 per cent of retail space to be occupied by September. The 300,000-sq. ft mall is seeing ‘extremely high conversion rates,’ says Mr S. Raghunandhan, CEO, Retail, Prestige Estates Projects (P) Ltd.

The return of the movies in multiplexes will also enhance footfalls and sales in malls, he added. Mr Pradeep Mukim, COO, Total Wardrobe Solutions, a retail venture of S Kumars Nationwide Ltd, is predicting a 10-15 per cent rise in sales during September-October. “Same store sales had dipped by almost 10 per cent last year and though there may not be dramatic increase this year, we are glad that consumer sentiment is looking up.”