Why is Diwali The Festival of Luxury in India?

Diwali is a celebration of lights, and judging by the amount of commerce (including luxury commerce) conducted throughout the Diwali time, it is also a festival of luxury.

In addition to an increase in the sales of fireworks, lanterns, apparels, gadgets, and other products, Diwali unquestionably also gives the luxury industry in India a tremendous business boost.

Therefore, Diwali is without a doubt a prosperous time of year for luxury companies in India.

Over a billion people of many faiths celebrate this five-day festival of lights with worship, feasting, fireworks, and, for some, the start of a new calendar year. The quantum of business transcted during Diwali is therefore phenomenally high.

Diwali, the Festival of Lights, celebrates the triumph of good over evil, knowledge over ignorance, and light over darkness. More than a billion people throughout India and its diaspora celebrate Diwali, a five-day festival marked by prayer, feasts, fireworks, family reunions, and charitable giving.

Manufacturers of luxury watches, leather goods, luxury automobiles, luxury residences, and all other luxury commodities including fashion anticipate a sales bump during Diwali, when Indians exchange presents and buy expensive stuff since it is considered auspicious and holy to do so.

To some, Diwali also marks the beginning of a new calendar year. On the other hand, perhaps the most recognisable aspect of Diwali is the lighting of candles and lanterns. Celebrants line their homes with brightly lit clay lamps for Diwali, a festival whose name comes from the Sanskrit word dipavali, meaning "row of lights." 

Hindu lunar calendar, which divides each month according to the time it takes the moon to round the Earth, is used to establish the dates of this celebration.

The Hindu festival of Diwali begins just before the Gregorian calendar's October or November new moon falls between the months of Asvina and Kartika. The first of five days of Diwali celebrations will begin on October 22, 2022, with the main festival day falling on October 24, 2022.

Numerous manufacturers of premium automobiles prepare delivery for clients around this time. Also, many luxury retail stores in India's metropolitan areas and other regions that carry a variety of premium brands are anticipating robust sales due to increased spending around Diwali. This anticipation exists every Diwali, regardless of market mood or swings in the global economy.

Diwali, typically, never disappoints.

Diwali is a major Hindu festival that is also observed by members of the Jain, Sikh, and Buddhist faiths. Although each religion has its own unique background for the celebration, they all have a common theme: the victory of good over evil.

The Hindu festival of Diwali is celebrated throughout northern India and commemorates the return of Prince Rama to the city of Ayodhya after 14 years of exile at the hands of his evil stepmother and his heroic rescue of his wife Sita, an incarnation of the goddess Lakshmi, from the clutches of the demon king Ravana.

Diwali celebrates Krishna's victory over Narakasura, a demon king who imprisoned sixteen thousand women in his fortress and brutally executed his subjects who dared to rise up against him, in the southern part of India. In western India, the celebration honours Vishnu's decision to send King Bali to the underworld because his immense might threatened the deities.

Diwali is also known as the Festival of Lakshmi, who is the Hindu goddess of wealth and prosperity. Diwali, celebrated in India, is a time when people pray to the goddess Lakshmi for a prosperous new year. It is still customary for Indian businesses to start their fiscal year on the day of Diwali.

Many people celebrate the new year on the fourth day of Diwali by giving each other gifts and exchanging well-wishes. The fifth day is dedicated to celebrating one's sibling relationships.

As the years pass, Diwali witnesses a rise in gift-giving enthusiasm among consumers. The accessory segments of the giving sector, such as watches, leather goods, and other luxury gift items, increase by about 25-30 percent annually.

Diwali traditions are as diverse as the stories that surround them. One thing that all of these celebrations have in common is the burning of clay lamps, which symbolise the inner light that protects each house from spiritual darkness, and the quantity of sweets that are consumed.

However, the significance of each of Diwali's five days varies. On the first day of Diwali, people pray to the goddess Lakshmi, create sweets, and clean their homes in preparation for decorating them with lamps and rangolis, which are floor decorations fashioned with colourful sand, powder, rice, or flower petals, the next day.

The most important activities take place on the third day of Diwali, when devotees may go to temples to honour Lakshmi or gather with friends and family to enjoy a feast and fireworks.