Splurge Or Not?

Ragini and Sajeda, friends from college, plan to meet around Dussehra to do the Garba together after a gap of four years. “I’ll buy you a multicoloured ghagra-choli for the dancing,” Sajeda said over the free WhatsApp line. “What’s the point of dressing up if we can’t go out…and we’re not even sure there will be celebrations this time,” her friend said sceptically. “The whole point is buying for each other! Let the spirits soar a bit after Covid-19,” Sajeda persisted. Experts call this sort of buying ‘retail therapy’—exactly the mood-lifting mantra thousands of producers and retailers across India are hoping consumers would chant this festival season. “There’s a pent-up demand caused by Covid fatigue. There’s also a strong expectation of festival discounts, which will trigger a lot of...