But the nature of spending is changing, with consumers looking for products that offer repeat use, quality and value rather than purchases meant for a single occasion.
The festive period is expected to be an important consumption window for discretionary categories, with apparel, jewellery, beauty, gifting and other lifestyle purchases likely to see increased activity as Navratri and Dussehra lead into Dhanteras and Diwali.
In fashion, Ayush Jain, Founder and Creative Director at Laromani, expects festive demand to remain healthy, particularly for men’s ethnic and occasion wear.
However, Jain expects consumers to favour outfits that can be worn beyond one festival. Customers are looking for a balance between traditional festive appeal and contemporary styling, while repeat wear across family celebrations, weddings and other occasions is becoming an important consideration.
The same trend is visible in women’s fashion.
Niharika, Founder and Creative Director of Evierose, expects shoppers to begin festive purchases earlier and look for pieces that can work across multiple celebrations. Elevated everyday styles, dresses, co-ords and statement pieces are among the categories expected to see interest.
According to Niharika, the consumer mindset is shifting from “buying more” to “buying better”, with greater attention to design, quality and how frequently an outfit can be worn after the festive season.
Jewellery is also expected to remain an important part of festive spending.
Varada Ravindran, Founder of Aagrah Fine Jewels, expects demand for versatile fine jewellery, particularly minimal necklaces, earrings, bracelets, rings and layered pieces that can work with both traditional and contemporary outfits.
Consumers are becoming more discerning about jewellery purchases,
Ravindran said, with design, quality, versatility and longevity increasingly influencing buying decisions.
This suggests that festive jewellery spending may not be limited to traditional occasion-specific purchases, with buyers also looking for pieces that can be used through the year.
Beauty and personal grooming are likely to form another part of the festive discretionary basket.
Yuvika Saxena, Marketing Head at Glam21, expects occasion-led makeup categories such as lip, eye and complexion products to see increased demand as consumers prepare for festive gatherings.
At the same time, shoppers are becoming more deliberate about beauty purchases, Saxena said.
Products that can be used across multiple occasions and offer utility beyond the festive period are likely to find greater acceptance as consumers weigh price against perceived value.
For services, Nilesh Kothari, Founder of Billu Salon, expects festive preparations to support demand for hair styling, grooming and skincare services. However, he said consumers are also becoming more conscious of discretionary expenses and are likely to evaluate service quality, pricing and convenience before spending.
This could make festive grooming a more planned part of household discretionary spending rather than an occasional impulse expense.
Fragrances are also expected to gain traction, particularly as part of festive gifting. Tarvinder Pal, Founder of Nisara, expects interest in fragrances, gourmet fragrances and gifting packs, with consumers increasingly looking for products that offer something distinctive without becoming prohibitively expensive.
Pal expects shoppers to continue spending during the festive period, but with greater attention to quality, uniqueness and value for money. Personalised and thoughtful gifting could also gain preference over more traditional options, he said.
Premium gifting is expected to remain resilient as well.
Ankit Sahni, Founder and CEO of The Hazelnut Factory, expects festive gifting to continue to be an important spending category, with consumers looking beyond conventional boxes of sweets for products that offer a more distinctive and experiential gifting proposition.
Sahni expects demand for curated mithai assortments and premium festive gifting boxes, while customers are likely to assess value not only on the product itself but also on presentation and the overall gifting experience.
Experiential spending is also becoming part of the festive consumption basket.
The expansion of food and dining-led experiences around the season points to consumers spending not only on products and gifts, but also on occasions built around socialising and eating out.
CinCin, for instance, has brought its annual Lemon Festa to Delhi NCR for the first time this year, extending a Mumbai-origin food festival to Gurugram through September. The move reflects how restaurants and hospitality businesses are also using seasonal experiences to tap into consumer spending around celebrations.
The expectations from businesses point to a festive season in which consumers are still willing to spend, but are becoming more selective about where that money goes.
For household budgets, this means the festive season could see higher discretionary spending across several categories, but not necessarily through indiscriminate splurging. Instead, consumers may be more inclined to prioritise purchases that deliver value beyond the immediate celebration.