Vidhu Sekhar P

A Boom Time for Businesses

The festive season in India, spanning from Raksha Bandhan to Holi, accounting for nearly two-thirds of their annual revenue. To capitalize on this festive fervour, companies are launching new products, offering discounts, and promoting their brands. With increased consumer spending and demand for temporary workers expected to rise by 15-20%, staffing firms are gearing up to meet the demand. The apparel, garment, and retail sectors are expected to see a surge in temporary hiring, with tier-2 and tier-3 cities driving the demand.

The festive season has kicked off with Rakshabandhan, Krishnajanmashtami, and Ganesh Chaturthi, marking the beginning of a thrilling period of celebrations and increased consumer spending in India. Spanning from Raksha Bandhan (August 19) to Christmas to New Year and to Holi, this period accounts for nearly two-thirds of the annual revenue for most companies in the country. To capitalize on this festive fervour, companies are launching new products, offering discounts, and promoting their brands, making it a critical period for their annual performance.

The significance of this festive season is further amplified by several factors. Increased consumer spending is driven by the festive spirit and promotional offers. Moreover, the launch of new products and services attracts customers and drives sales. Promotional campaigns and discounts create a buzz and encourage purchases. Enhanced brand visibility is achieved through targeted marketing and advertising efforts. As a result, there is a boost in sales and revenue, leading to business growth and profitability. This festive season too presents a valuable opportunity for businesses to thrive and achieve their goals.

To meet the anticipated demand, businesses are expected to increase temporary hiring by 15-20% compared to last year. This will ensure them to keep up with the surge in consumer spending and make the most of this crucial period. The upcoming festive season is expected to generate a surge in temporary hiring across various industries, with the apparel, garment, and retail sectors being no exception. Staffing firms expect 600,000-700,000 temporary jobs to be created across industries, with a 15-20% increase in demand for temporary staff compared to last year.

They expect that in the apparel, garment, and retail sectors, the demand for temporary workers is to rise by 25-30% compared to the previous festive season. Roles such as sales associates, customer service representatives, warehouse workers, and delivery personnel are in high demand. Fast moving consumer goods companies and Luxury marketers will not hesitate to showcase new products, all these require many more hands onboard during the festive period.

The ecommerce and logistics sector are also on the expectation that the highest jump in temporary hiring, with a 30-35% increase in demand for temporary staff. Tier-2 and tier-3 cities are expected to see a higher demand for temporary workers, with cities such as Jaipur, Indore, Ahmedabad, Coimbatore, Lucknow, Vadodara, Surat, Bhubaneswar, Bhopal, Ludhiana, Chandigarh, and Vizagapatanam expects an increase of 25-30% compared to the previous festive season. Demand is coming largely from tier-2/3 cities especially from the emerging spots like Guwahati, Jamnagar, Uluberia(Kolkata), Cuttack and Sikkim. By gearing up to meet the demand for temporary manpower, staffing firms can help businesses in the apparel, garment, and retail sectors to capitalize on the festive season’s opportunities for better orientation.

(This article is written by Vidhu Sekhar P, Assistant Prof at NIFT Daman, UT of Dadra Nagar Haveli, Daman & Diu))