Brands are stepping up localisation, switching to alternative materials where possible and removing non-essential features to keep production costs in check as they gear up for the festive season, as per report by Times of India .
CEOs expect to take measured price hikes amid continued commodity inflation, while absorbing some pressure on margins to drive volumes during the key selling period. Companies have not cut their festive sales targets and expect a longer festive season with Diwali falling in November this year versus October last year, along with premiumisation to support demand.
