LG's Gupta said consumer sentiment has been a concern for the industry, as also macro-economic factors like price hike due to dollar appreciation. "That has forced the consumer to postpone their purchase."
Biswarup Banerjee, head of marketing communication at research firm Ipsos, said high inflation and an uncertain economic environment are among the main reasons for buyers cutting down on spending.
"This festive season bargain-hunting may become the preferred choice for a majority of Indians as higher discounts will be definitely an added incentive for spending on desired items," Banerjee said, commenting on the "Mood of the Nation Survey" released by Ipsos this week.
