Light at the end of the tunnel: sales predicted to go up as Covid numbers go down this Diwali
The Covid-19 pandemic may have taken the sheen off the festival of lights last year, but large-scale festivities are set to return, albeit cautiously, on Diwali this year.
In countries such as India, where it’s a major festival, daily infections tallies around seven-month lows and climbing vaccination rates are boosting optimism for the five-day festival.
Symbolising the triumph of good over evil and light over darkness, Diwali usually falls in the early autumn, coinciding with the new moon, deemed the darkest night of the Hindu lunar calendar.
This is why dates change every year.
This year, celebrations will begin on Tuesday, November 2, with the “main Diwali” falling on the third day, on Thursday, November 4, a holiday in many countries.
While for many, Diwali honours the Hindu goddess of wealth, Lakshmi – with lights and lamps said to welcome her and bring prosperity – for others, it is to celebrate the return of the deity Ram to Ayodhya, having rescued his wife Sita from the clutches of the demon king Ravana.
Predominantly a Hindu festival, Diwali is also celebrated by people from some other faiths including Jains, Sikhs and some Buddhists.
On the first day of celebrations, diyas or earthen lamps filled with oil are lit for the next five days and homes are decorated with lights and lanterns. Many consider the day auspicious to make major purchases – from cars to equipment.
Jewellery, especially gold to appease Lakshmi, is often bought, with jewellery shops in India and other countries with a large Indian population enjoying massive surges in sales on the day.
Doorways and entries to offices are also decorated with rangolis, a colourful design made using flower petals, coloured rice or sand, meant to bring good luck.
In March, a rangoli even appeared at the doorstep of No 11 Downing Street, the current home of Rishi Sunak, Britain’s first Hindu Chancellor of the Exchequer, on the UK’s budget day.
On the second day, called “chhoti Diwali” or “small Diwali”, a variety of Indian sweets are made at home or bought and then exchanged along with gifts among friends and family.
The third day of Diwali is considered the main one, when those celebrating wear new clothes or their best outfits and light fireworks. Parties and festive events are held to mark new beginnings.
The fourth day is mostly ritualistic, with many celebrations coinciding with the end of the harvest season.
The last day of the festival is called “bhai dooj” or “brothers’ day”, and marks the bond between sisters and brothers. Similar to Raksha Bandhan, where sisters tie symbolic charms around their brothers’ wrists to ward off evil. During bhai dooj, brothers often visit their sisters who feed them with their hands and receive gifts in return.
Diwali is at once a time of buying and giving. Workers often receive bonuses and special gifts ahead of Diwali, while sales of gold coins and bars, purchased as investment, surge. According to data from the World Gold Council, Indians bought 194.3 tonnes of gold in 2019’s October-December festival period and 186.2 tonnes during the same period last year.
Forrester Research estimates that online sales in the country in the run-up to Diwali should leap 42 per cent from 2020 to $9.2 billion. Anticipating the rising demand in India, online retailer Amazon is advertising as much as 70 per cent off on furniture and 40 per cent off on smartphones.