Dashain, the grandest festival in Nepal, is not only a time for celebration, rituals, and family gatherings but also a major economic event. As the festival approaches, the entire country shifts into a period of heightened commerce, with businesses preparing for an influx of consumers eager to spend on everything from food and clothing to electronics and home decor. Traditionally, Dashain has been a time to renew and rejoice, but in recent years, its economic impact has grown, influencing market trends, prices, and business strategies across the nation. This article explores the multifaceted relationship between Dashain and Nepali businesses.
Price Rising Spoil in Dashain
Dashain, the most awaited festival in Nepal, brings joy, family gatherings, and tradition. However, along with celebration comes a significant rise in prices. Each year, consumers face inflated costs on essential goods, from food items to clothing. This price rise can be burdensome, especially for families trying to maintain traditions while managing household expenses. The rising prices, though often seen as inevitable, lead to frustration among consumers, adding a subtle tension to the festive joy. Retailers and business owners, however, see this as a natural market response to increased demand. With the influx of consumers and their desire to purchase, they adapt to higher costs of supply. But the question remains: How much is too much?
As August marks the start of the festive season in Nepal, the major festivals Dashain and Tihar in September and October drive significant price increases. According to Nepal Rastra Bank, the Consumer Price Index (CPI) shows that price hikes typically begin in August each year, peaking in September, before gradually returning to normal levels by October. The data from 2021, 2022, and 2023 also indicate that the inflation rate is particularly high for food and beverage items during this period.
*Source: Nepal Rastra Bank, Financial Stability Report*
Are Sellers Hopeful This Dashain? Market Analysis
For businesses, Dashain is like harvest season—a time of unparalleled sales opportunities. From local vendors to big retailers, everyone prepares for this surge in demand.Banks currently have sufficient liquidity, which is expected to positively impact festive season sales and overall economic activity. Many traders have already begun placing orders in foreign markets, anticipating a rise in demand for various goods, including clothing, electronics, and vehicles. Imports of readymade garments, raw materials, and mobile accessories have surged by 40% this year, indicating that sellers are preparing for a busy season, as reported by The Kathmandu Post.
However, the market is still influenced by global inflation and post-pandemic recovery, which might affect consumer spending habits. Businesses are adopting strategies to navigate these challenges, such as focusing on local products and adjusting their inventory to meet diverse budget needs. Moreover, the increasing shift towards online shopping has led many retailers to enhance their digital presence, launching targeted marketing campaigns to attract customers both online and offline.
In conclusion, the market environment this Dashain is a mixed bag. On one hand, inflation and rising prices have created challenges. On the other hand, the festive season’s traditional boost in spending, combined with strategic adaptations by businesses, provides a reason for cautious optimism among sellers. By focusing on local products, adjusting inventories, and offering promotions, businesses aim to capitalize on the expected surge in demand despite economic challenges. Therefore, while the outlook is uncertain, sellers remain hopeful that Dashain will bring in strong sales, though they are approaching it with careful planning.
The Changing Trends for Dashain
Dashain isn’t just a festival; it’s a reflection of societal change. Over the years, what used to be a primarily traditional celebration has evolved into a blend of modern and ancient practices. Businesses have adapted to these shifts, offering not just traditional goods but modern ones like tech gadgets, clothing brands, and contemporary home decor. The rise of online shopping, digital marketing, and e-commerce platforms has significantly altered Dashain shopping habits. Many consumers now prefer the convenience of browsing and buying from home, leading to a surge in online transactions. Consequently, businesses are increasingly investing in their digital presence and utilizing social media and online advertising to reach customers.
And this digital transformation has also shown the importance of courier companies as consumers shift towards e-commerce and online stores. The need for delivering goods has significantly increased in recent years. To fulfill this delivery demand, Nepal Can Move has been providing fast, secure, and reliable courier services all over Nepal and even worldwide. Now, consumers can purchase their goods from home and effortlessly get their products delivered to their doorstep with the help of NCM.
NCM also offers courier services that allow individuals to send necessary items, documents, gifts, accessories, and their happiness with ease. Even during festive seasons like Dashain, people can exchange their love, emotions, and gifts with their loved ones who are far away. As the festive season begins, NCM is fully prepared and doing its utmost to deliver happiness everywhere, worldwide. This is one of the most beautiful changes happening in the industry, where people can now easily exchange their love. So, in recent years, the festive season is no longer confined to physical markets; it’s thriving in the digital world as well. This transformation offers new avenues for businesses to grow dynamically.
May Be the Businesses of Festivals?
When Dashain arrives, it’s not just families that prepare for the celebration—businesses do too. The festival season in Nepal isn’t only about cultural traditions; it’s also a time when markets come alive with activity. The connection between festivals and business is undeniable, as each year, the anticipation of Dashain brings with it a surge in consumer spending that can make or break the annual sales for many retailers.
As Dashain grows in its commercial significance, we can ponder whether the festival has become as much about business as it is about tradition. More and more, companies and sellers are centering their yearly strategies around festival seasons, knowing the potential for profit is high .But is this commercial aspect taking away from the essence of Dashain? Some might argue that the over-commercialization risks diluting the cultural and familial importance of the holiday. On the other hand, the festival provides a critical financial boost to countless small and medium-sized businesses across Nepal.
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