Discount Those Fears

Dheeraj Arora, a bank employee living with his family of six in Kharar, on the outskirts of Chandigarh, has big plans for Dussehra-Diwali. Any bets on what? Well, that’s a no-brainer. He’s planning some binge-shopping, of course, as he eagerly awaits the festive deals—he’d kept off some home purchases for too long. Everyone who tracks consumer behaviour knows this year is unusual. Many Indian households face an acute dilemma about whether to spend or not—the economic havoc brought on by business failures, job losses and salary cuts during Covid season has changed the equations. But even amidst all the mixed sentiments, many people will be swept up by the rush of adrenaline when the big festivals come around after a long, enforced lull. The consumer’s psychology will likely be in some sync with the macroeconomic yen for a revival. Most probable...