The Clothing Manufacturing Association of India (CMAI) surveyed 166 apparel makers and brands about festive season expectations. Around 78% anticipate a 25% dip in sales compared to last year, mainly due to high inflation and an economic slowdown.
However, 22% are hopeful for a market pickup. Kid's wear is predicted to lead in sales (49%), followed by women's wear (36%) and men's wear (12%).
Notably, tier-2 and tier-3 cities are expected to outperform metros. While there's some optimism, an overall sense of caution persists in the industry. Around 60% believe offline stores will fare better during the festive season.