Highly diversified Indian society is widely known to celebrate the abounding of fairs and festivals throughout the year linked to the religious, cultural, linguistic and regional affiliations, and some are with the cultivation season of crops. Alongside these traditional reasons, the modern-day celebration like valentine’s, mother, father, rose day, etc. also get attraction among the youths from last several years. Some festivals are celebrated pan India and others are limited to the selected parts of the country.
Some of these celebrations draw massive opportunities for the business entities to launch and promote their products with discounts and lumping of promotional offers to attract the whopping Indian customer base. The large consumer segment in India belongs to the middle-income group who generally tends to hyphenate the shopping with these festivals. Alongside religious rituals, Indians celebrate Diwali as the largest shopping carnival to buy commodities. Such shopping festivals are widely covered by the media to attract the advertisement of products from the companies.
Eid, a season of rejoicing and festivity all over the country among the Muslim, is similar to Diwali for the shoppers. Muslims, specifically the middle and low-income group segment, postpone the purchasing of durable goods, clothes, footwear, personal care, and other products for this occasion. Unfortunately, the Eid season still lacks the enthusiasm similar to other shopping festivals. This impassivity indicates that promoters either are unable to assess the huge potentialities or are deliberately ignorant in the perception of the low purchasing profile of Indian Muslims.
Despite economic backwardness, still, around 15% of Muslim households belong to upper-income groups holding the substantial purchasing powers. This affluent segment of 25 million Muslim consumers itself has the abundance of opportunities with their niche products. Further, Since Muslim have the affection towards their religious practices during this Ramzan season, correlating of a brand through advertisement and promotional offers with Eid can attract more Muslim consumers towards the products and services.
This whole month comes with tremendous potentialities to introduce the products among the 172 million Muslim population who spread across all the states and districts of India. Estimated overall market size during this month is around USD $10 billion with the major share of foods. Clothing, footwear and personal care also have the substantial share of around USD $831 million. Out of 172 million Muslim, potential half women segment and 47% of the children and 40% youth can also be targeted for the products. Muslim families and relatives also assemble at this occasion and exchange the gifts. Tour and travel industry also have the enormous opportunities as the families and friends generally plan for outstation trips after the Eid.
Bollywood, however, wisely exploit the season by exhibiting the Muslim background or starring films after the Eid. Since Muslim avoid to see the movies during the entire month of Ramadan, the first week of Eid after Ramadan is considered a lucrative period to attract the Muslim viewers. In the last two successive Eid, Salman Khan starring Bajrangi Bhaijan in 2015 and Sultan in 2016 were witnessed the blockbusters by grossing the 1.03 and 1.80 billion rupees respectively in the weekends.
This occasion is largely marketed across the Muslim countries, even the other countries with the trivial Muslim population who celebrate this occasion with full enthusiasm and organized the special fest, exhibitions, and fairs to target the Muslim consumer. While in spite of such large untapped potentialities, India’s mainstream brands are still reluctant to avail such lucrative season. Sooner they will realize the scope of business potentialities around Eid to create another season for the branding of products among the large minority of India.