Consumer goods and apparel retailers are ramping up winter inventories after festive season demand outpaced expectations, signaling a buoyant close to the year. Industry executives say primary sales—from companies to retailers—have jumped nearly 20% year-on-year, buoyed by the recent Goods and Services Tax (GST) rate cuts and improving consumer sentiment.
Hindustan Unilever (HUL), Emami, Bajaj Electricals, Dabur, Lifestyle International, and V-Mart Retail are among the companies anticipating a strong winter quarter. “The trade is stocked up pretty well for winter. If we have a decent season, we should see solid growth,” said Ritesh Tiwari, Chief Financial Officer at HUL, which has a broad range of cold-weather products, from creams and moisturisers to lip balms.
Emami Vice-Chairman Mohan Goenka said winter-related stocking demand has risen in double digits, with the season beginning earlier than usual. “Sentiments are very positive, and growth could have been higher if not for the brief Diwali distributor closure,” he added.
The upbeat mood extends to appliance makers too. Bajaj Electricals Managing Director Sanjay Sachdeva noted a sharp rise in orders for water and room heaters, with primary sales expanding in double digits.
Apparel retailers are equally optimistic. Lifestyle International CEO Devarajan Iyer said the company expects up to 20% growth this season, particularly across northern and eastern India, where temperatures have already begun to dip. The India Meteorological Department’s forecast of a colder-than-usual winter due to La Niña has further boosted confidence.
For FMCG and apparel players, winter contributes as much as 25% of annual revenue. Following weak summer sales, the sector is counting on the combination of a prolonged wedding season, improved liquidity, and stronger consumer sentiment to deliver one of the most robust winter quarters in recent years.
