From Commodity to Consumer Brand: How India’s Edible Oil Market Is Evolving

Your investment statement shows a gain, but working out what you earned each year takes more than dividing that gain by the number of years invested. The calculation becomes trickier when you add money or make withdrawals along the way.

An XIRR calculator accounts for dated cash flows, while a CAGR calculator measures annualised growth between a starting amount and an ending value. The suitable choice depends on your transaction history and what you want to assess.

What does a CAGR calculator measure?

Compound Annual Growth Rate, or CAGR, expresses growth as an equivalent annual compounded rate. It is useful when you make one investment and have no intermediate contributions, withdrawals or cash distributions.

The formula is:

CAGR (%) = [(Ending value / Beginning value)^(1 / Years) − 1] x 100

Suppose ₹1 lakh grows to ₹1,21,000 over two years:

CAGR = [(₹1,21,000 / ₹1,00,000)^(1/2) − 1] x 100 = 10%

The total gain is 21%, while the equivalent annual compounded return is 10%. Dividing 21% by two would give 10.5%, which overlooks compounding.

A CAGR calculator does not show the journey between those values. The investment could have risen steadily or experienced sharp fluctuations.

The figures shown are for illustrative purpose only

What does an XIRR calculator measure?

Extended Internal Rate of Return, or XIRR, measures an annualised return using the amounts and dates of cash flows. It considers how long each contribution was invested and when money was withdrawn.

This makes an XIRR calculator useful for SIPs, irregular contributions, partial redemptions and investments that pay cash distributions.

XIRR is a money-weighted measure: the timing and size of your transactions influence the result. Two people investing in the same mutual fund can therefore earn different personal returns, even over broadly similar periods.

It describes your experience with the investment rather than isolating the fund manager’s performance.

Why can CAGR mislead when you add money?

Imagine investing ₹1 lakh and adding another ₹50,000 shortly before your review date. The holding’s final value reflects both market movements and the additional contribution.

Entering ₹1 lakh as the beginning value would incorrectly treat the contribution as growth. Entering ₹1.5 lakh would also be unsuitable because the full amount was not invested from the start.

An XIRR calculator handles this distinction by assigning a date to each transaction. The additional ₹50,000 is recognised as money you contributed, with its own investment period.

The same principle applies when withdrawals reduce the remaining holding. A lower closing value does not automatically mean a poor return if you have already received money.

How should you enter XIRR cash flows?

Prepare the information from your investment statements, using a consistent perspective:

●    Contributions: Enter money paid into the investment as negative amounts.
●    Withdrawals: Enter redemption proceeds and cash distributions received as positive amounts.
●    Closing value: If you still hold the investment, enter its value as a positive amount on the review date.
●    Transaction dates: Use the actual dates rather than approximate monthly or annual intervals.

If you have sold the entire holding, include the sale proceeds without adding another closing value. Check for omitted or duplicated transactions before interpreting the result.

For a whole-portfolio calculation, transfers between investments inside that portfolio are internal movements, rather than fresh contributions or withdrawals.

Can both calculators give the same result?

Yes. With one initial investment and one ending value, XIRR and CAGR can give the same result when their time-period conventions match.

Small differences can arise because an XIRR calculator uses transaction dates, while a CAGR calculator may accept a rounded number of years. Check the dates, valuation and calculation basis before assuming either result is wrong.

XIRR is not restricted to SIPs, and CAGR is not unsuitable merely because the investment is a mutual fund. The pattern of cash flows determines the appropriate measure.

What should you check beyond the return?

Neither calculator tells you whether the investment suits your needs. Review risk, costs, liquidity and progress towards your goal alongside the annualised figure.

Be careful with short periods. Annualising a gain earned over a few weeks can produce an impressive percentage without establishing a sustainable yearly return.

For scheme comparisons, use matching periods, plans, options and methods. Comparing your personal SIP XIRR directly with a fund’s published lump sum CAGR can obscure the effect of contribution timing.

Conclusion

Use a CAGR calculator for a single investment without intermediate cash flows. Choose an XIRR calculator when contributions, withdrawals or distributions occur on different dates. Complete records and consistent assumptions matter more than choosing the higher percentage. Read either result alongside the risks taken and your financial goal.

Mutual Fund investments are subject to market risks, read all scheme related documents carefully. 

This document should not be treated as endorsement of the views/opinions or as investment advice. This document should not be construed as a research report or a recommendation to buy or sell any security. This document is for information purpose only and should not be construed as a promise on minimum returns or safeguard of capital. This document alone is not sufficient and should not be used for the development or implementation of an investment strategy. The recipient should note and understand that the information provided above may not contain all the material aspects relevant for making an investment decision. Investors are advised to consult their own investment advisor before making any investment decision in light of their risk appetite, investment goals and horizon. This information is subject to change without any prior notice. 

The content herein has been prepared on the basis of publicly available information believed to be reliable. However, Bajaj Asset Management Limited (formerly known as Bajaj Finserv Asset Management Limited) does not guarantee the accuracy of such information, assure its completeness or warrant such information will not be changed. The tax information (if any) in this article is based on prevailing laws at the time of publishing the article and is subject to change. Please consult a tax professional or refer to the latest regulations for up-to-date information.
 

India’s home appliance market is witnessing a shift towards premium products as consumers increasingly look for better performance, convenience, energy efficiency, and design. Over the years, the trend has gained momentum with changing lifestyles, rising aspirations, and greater product awareness influencing purchasing decisions.

The Diwali festive season provides an important opportunity for households to upgrade existing appliances and invest in products that offer greater functionality.

From kitchen appliances and cooking equipment to fans and fabric care products, brands are strengthening their portfolios to address evolving consumer expectations. While affordability continues to influence buying decisions, consumers are showing a growing willingness to spend more on products that deliver long-term value.

According to Anil Dua, COO at Usha International, consumers today are more informed, aspirational, and discerning in their purchases.

"While price and affordability remain important, there is a growing willingness to spend more on products that offer better performance, convenience, durability, and overall value. This shift is being driven by a greater focus on long-term value rather than just the initial purchase price," he said.

He added that energy efficiency, advanced features, multifunctionality, and smart connectivity are influencing buying decisions, while design and aesthetics are becoming increasingly important. Brand trust, reliability, and after-sales service also continue to play an important role, particularly in higher-value purchases.

Also read: Malgudi: Shankar Mahadevan Takes South Indian Dining Up the Premium Ladder

Cooking Appliances

There are changing trends, with companies trying to expand into several appliance segments. At Usha International, fans and sewing machines are still a key part of the business. However, cooking and fabric care are the drivers for overall growth. The cooking segment has grown by 30 percent YoY.

The company is increasing its reach in new segments like air fryers, mixer grinders, and blenders.

Beyond Appliances, set up in 2024, has positioned itself as a strong player in gas stoves, chimneys, cooktops and hobtops. It has a category share of 10-12 percent in gas stoves and chimneys on major e-commerce platforms.

Also read: Small Feet, Big Business: Kids’ Footwear Steps Up Growth

According to Eshwar K Vikas, Co-founder and CEO, Beyond Appliances, "More consumers are looking at appliances with a practical approach."

"We are seeing more consumers making the switch to high-end appliances not just because it is a premium product but because there is real value being created. There is an increasing demand for appliances that make everyday easier and more convenient, safe, and efficient."

Beyond Appliances is also concentrating on technologically advanced products. The Quantum cooktop uses technology to save up to two LPG cylinders each year. It can also cut cooking time by 50 percent.

Also read: How GRM Foods Is Growing 921 Basmati Rice Globally

Premiumisation

Consumers are increasingly willing to pay higher prices for unique technology, convenience and functionality.

Wonderchef has seen double-digit growth with operating revenues of over Rs 480 crore. This has been driven by its Nutri-blend, Chef Magic smart automated cooker, coffee makers, air fryers and pro health cookware, according to Ravi Saxena, Founder & CEO.

"The whole premiumisation aspect has helped us see a 20-25 percent increase in our average order value. We have seen premium products now contributing about 35-40 percent of our total sales. The range of Rs 4000-12000 has seen great acceptance, as well as the range of premium items like Chef Magic and coffee makers at over Rs 30,000," said Saxena.

The average selling price and average order value at Wonderchef are between Rs 3500-4200.

Usha International’s premium products have a good contribution to sales. "We at Usha ensure that we have a good mix of basic, mid- and premium-priced products to suit everyone," said Dua.

Also read: From Premium Perfumes to Pocket-Friendly Scents

Combining Online and Offline

Consumers prefer to research and compare different products online but go into stores to see them in action.

Usha International has seen a doubling of sales online. The company's 44 owned outlets throughout India now generate over 25 percent of sales online. Products related to cooking appliances and automatic zig-zag sewing machines are seeing increased traction.

Beyond Appliances initially used Amazon and Flipkart but now has an omnichannel approach. It generates around 60 percent of sales online and 40 percent offline.

They have also opened 4 stores, including exclusive brand stores throughout Bengaluru, Mangalore and Chennai.

Wonderchef has a 35:65 split between online and offline sales. They have a strong online presence across D2C, marketplaces, and quick commerce. Their offline stores include 32+ exclusive brand stores and over 25,000 multi-brand and modern stores.

Also read: Retail Sales Grow 8 Pc in September 2026 Ahead of Festive Season: Report

Expansion Priorities in Tier II and III Cities

Tier-II and Tier-III cities are becoming an important source of growth for appliance companies. Rising aspirations among consumers, coupled with organised retail's reach and superior distribution, are helping drive demand in these smaller markets.

Currently, Beyond Appliances is present in Bengaluru, Hyderabad, Mumbai, Kolkata and New Delhi. In the next three years, the company aims to expand to 14 cities and grow its customer touch points to 1,500-2,000 from 300-400.

Wonderchef, meanwhile, reported that Tier II and III markets contribute over 40 percent of its demand. The company aims to double its exclusive brand outlet network to more than 70 stores and expand its general distribution footprint to over 40,000 touchpoints.

Usha International is focusing on strengthening its presence in the South while expanding into emerging smaller markets. Over the next two to three years, the company aims to deepen its reach across towns and villages with populations of 10,000 and above by strengthening its dealer and retail network.

As Diwali approaches, changing consumer preferences are creating opportunities across the home appliance sector. With buyers increasingly considering performance, technology, convenience, and long-term value, companies are focusing on premium portfolios, wider distribution, and omnichannel retail to support their next phase of growth.

Also read: Premiumization Reshapes India’s Home Appliance Retail Market

India’s festive shopping season in 2026 reflected a shift in consumer priorities, with shoppers becoming more selective about their purchases and increasingly focused on value, affordability and product utility. While festive sales continued to attract consumers, spending patterns indicated a more deliberate approach to fashion consumption, with shoppers balancing everyday needs against discretionary purchases.

According to Fynd’s Festive Season Report 2026, which analysed shopping behaviour across more than 65 brands selling on eight leading marketplaces during September and October, half of all festive orders were placed below Rs 1,000. At the same time, premium purchases continued to contribute significantly to sales value, highlighting a consumer who is cautious about spending but willing to invest in products perceived to offer greater value.

The report draws insights from fashion transactions across Myntra, Flipkart, Amazon, AJIO, Nykaa, JioMart, Tata CLiQ and Tata CLiQ Luxury, covering apparel, footwear and fashion accessories.

The findings suggest that the festive season was less about indiscriminate buying and more about consumers making considered choices around pricing, product utility and perceived value.

Value Takes Centre Stage in Festive Shopping

Affordability emerged as a defining factor in consumer behaviour during the festive season. Orders below Rs 1,000 accounted for 50.1% of total purchases, indicating that a significant proportion of shoppers continued to prioritise accessible price points.

However, the demand for premium products remained strong in terms of sales contribution. Orders above Rs 3,000 accounted for just 11.8% of purchases but generated more than 41% of total sales value.

This points to a market where consumers are increasingly separating everyday purchases from higher-value investments. While affordability remains important for routine shopping, shoppers are willing to spend more on products they consider worthwhile.

Discounting also intensified during the season. Average festive discounts increased from 34% to 46%, with nearly half of all orders sold at discounts exceeding 50%.

For fashion retailers, this creates a more complex pricing environment. While promotions continue to attract shoppers, brands must balance discount-led demand with product value, assortment planning and profitability.

Footwear Outpaces Apparel as Consumers Prioritise Utility

One of the most significant shifts in festive fashion consumption was the growing contribution of footwear. Footwear accounted for 52.7% of all festive orders and 58.4% of total sales value, emerging as the largest online fashion category during the season. Its share of orders increased substantially from 33% in 2025.

In contrast, clothing’s share of festive orders declined from 48% to 34.5%. The shift suggests that consumers are becoming more selective about discretionary fashion purchases while continuing to invest in categories that offer everyday utility.

Footwear’s growing share also highlights an opportunity for retailers to reassess category-level demand and product assortment during peak shopping periods. Rather than relying primarily on apparel-led festive consumption, brands may need to place greater emphasis on categories that combine functionality, versatility and perceived value.

Eastern India Emerges as a Growth Engine

Regional demand patterns offered another important insight into festive shopping behaviour.

Eastern India contributed 20.8% of all festive orders, emerging as one of the fastest-growing regions during the season. West Bengal also became the country’s second-largest ordering state. The report points to a broader shift in fashion demand beyond traditional metropolitan consumption centres, with regional markets increasingly contributing to online retail growth.

Tier-II cities also gained momentum, expanding their contribution from 19% of festive orders in 2025 to approximately 35% in 2026. Meanwhile, Tier-I cities continued to account for a significant share of overall spending, contributing approximately 43% of orders and 56% of gross merchandise value (GMV).

The difference between order contribution and GMV indicates the continued importance of larger urban markets in generating higher-value purchases, even as emerging cities expand their share of transaction volumes.

For retailers, the growing contribution of Tier-II markets and Eastern India reinforces the need for more localised approaches to pricing, assortment and fulfilment.

Marketplace Diversification Reshapes Fashion Commerce

The festive season also reflected a gradual shift in marketplace distribution.

Myntra and Flipkart continued to lead online fashion sales, but their combined share declined from 89% in 2025 to 76.8% in 2026.

AJIO, Amazon and JioMart gained traction, indicating that consumers are increasingly spreading their purchases across multiple platforms.

For brands, this diversification presents both opportunities and operational challenges. A wider marketplace presence can help retailers reach new consumer segments, but it also requires stronger inventory visibility, coordinated pricing and consistent product availability across channels.

As consumers become more selective about where they shop, marketplace diversification is emerging as an important consideration for fashion brands seeking to maintain visibility and capture demand during high-volume periods.

Digital Payments Gain Ground as Prepaid Adoption Rises

Payment preferences continued to evolve during the festive season, with online payments accounting for 56.5% of all orders.

The report also highlighted a surge in prepaid adoption across Eastern markets, indicating growing acceptance of digital payment options in emerging demand centres.

For retailers, this shift has implications for both customer experience and operational efficiency. Higher prepaid adoption can support smoother transactions and reduce some of the challenges associated with cash-on-delivery orders.

At the same time, the regional variation in payment behaviour suggests that brands need to account for local consumer preferences when designing payment options and checkout experiences.

Returns and RTO Remain Operational Priorities

Despite the growing focus on value and more deliberate purchases, returns continued to be an important consideration for online fashion retail.

The overall return rate stood at 11.8%, with clothing recording a category-wise return rate of 14.9%, compared with 10.5% for footwear.

The difference reinforces the importance of category-specific planning, particularly in apparel, where fit and product expectations can influence purchase outcomes.

For fashion brands, managing returns alongside marketplace expansion and festive demand will remain critical to improving operational efficiency and protecting margins.

Retailers Must Adapt to a More Deliberate Consumer

Fynd’s Festive Season Report 2026 points to a consumer who continues to participate in festive shopping but approaches purchases with greater consideration.

Affordability, product utility, discounts and regional preferences are shaping demand across categories and marketplaces. While premium purchases continue to contribute significantly to sales value, everyday spending remains concentrated in accessible price segments.

The growing contribution of Tier-II markets and Eastern India also signals that future fashion retail growth will depend on understanding consumers beyond traditional metropolitan markets.

For retailers, the next phase of growth will require a sharper understanding of category-specific demand, more disciplined discounting, stronger marketplace diversification, improved prepaid adoption and localised assortment planning.

As festive shopping becomes increasingly value-driven, the ability to align products, pricing and distribution with evolving consumer priorities could prove as important as the scale of festive promotions themselves.

Children’s footwear has evolved. Parents are paying more attention to their little ones’ footwear, with vibrant sneakers and comfortable shoes for school. Factors such as comfort, aesthetic design, durability, and fit are becoming key. The continuous demand for new footwear is created by the rapid growth of children, opening up new opportunities for footwear brands across India.

As per Maximize Market Research, India’s children’s footwear market was valued at USD 1.73 billion in 2025 and is projected to grow to USD 3.62 billion by 2034, at a CAGR of 8.54 percent during the forecast period 2026-2034.

This category is also becoming more brand-oriented as parents know more about quality, comfort, and development of their child’s feet.

Also read: Malgudi: Shankar Mahadevan Takes South Indian Dining Up the Premium Ladder

Growing Market Opportunity

Awareness is increasing, and lifestyles are changing, leading to a growing market for kids' footwear in India. Consumers are becoming increasingly fond of branded products.

Satyajit Mittal, Founder and CEO of Aretto, said, “Kids outgrow their shoes long before the shoes wear out, so most pairs are retired while the sole and upper are still perfectly usable. That is a design problem, and it is the one Aretto was built to solve.”

Aretto has developed a new sole technology called Supergrooves, which can grow by 18mm to allow kids' feet to grow in size for about 3 sizes. The company states that they have sold over 3 lakh pairs of shoes.

“We estimate the kids footwear market in India to be USD 1.73 billion. It’s growing by between 5-8 percent a year. We see a lot of potential in this category with parents increasingly looking for comfortable footwear,” Ankur Rastogi, Senior Vice President & Head of Regional Design and Development Hub, Bata India said.

Also read: How GRM Foods Is Growing 921 Basmati Rice Globally

Affordable Prices Drive Demand

The price is still a big factor when buying children's shoes, especially since kids outgrow shoes so quickly. Parents are looking for products that balance affordability, quality, and comfort.

According to Bata India sales data, the Rs 1,099 footwear contributes 20 percent to sales, while the Rs 1,299 price point contributes 14 percent.

Aayush Jindal, CEO of Asian Footwears, said the strongest demand is coming from the accessible mass-premium segment. The company is targeting the Rs 1,000–2,000 price range, where parents seek better quality at affordable prices.

Also, sneakers are gaining popularity as children now use them for their daily routine. Sports and running footwear continue to attract demand, supported by products offering cushioning and comfort.

Mittal said school shoes remain the most predictable repeat-purchase category, while sneakers and casual footwear are seeing faster growth as parents look for versatile options.

Also read: From Premium Perfumes to Pocket-Friendly Scents

Comfort and Fit Shape Buying Decisions

Parents are becoming more conscious of how footwear affects children's movement and comfort. Proper fit, lightweight construction, cushioning, and durability are increasingly influencing purchase decisions.

Mittal said, “Young parents are far more discerning than before, and far more aware of how much healthy foot development matters.”

He added that children also have their own preferences, particularly around appearance, feel, and product features. This is encouraging brands to develop footwear that balances parental expectations with children's choices.

Asian Footwears is focusing on memory foam footbeds and ETPU cushioning technology to improve comfort and support. Bata India is also working on flexibility, anatomical lasts, and broader toe boxes to improve fit.

Rastogi said comfort remains a key consideration, as children's shoes need to support movement throughout school hours and playtime.

Also read: Retail Sales Grow 8 Pc in September 2026 Ahead of Festive Season: Report

Omnichannel

Brands are increasingly using online and offline strategies to reach customers. Parents can easily research and compare products online whilst kids can sample products in retail stores.

Aretto has a balanced omnichannel strategy. They currently have over 80 retail points across more than 25 cities, including emerging markets such as Patna, Raipur, Jodhpur, Rajkot, Ranchi, Udaipur, and Hubli.

Asian Footwears also has a balanced omnichannel strategy. "We sell on online marketplaces such as Myntra and Flipkart. We also have our own fast delivery service called Asian Flash. Orders can be delivered locally in 30-60 mins," Jindal said.

It has over 100 exclusive brand stores and over 30,000 multi-brand stores across India.

Smaller cities are a key growth area for Bata India. The market is fragmented, and there is a lot of potential for organised brands to grow.

Also read: Premiumization Reshapes India’s Home Appliance Retail Market

Growth-driven product innovation

Brands are working towards growing their reach.

Aretto aims to increase its retail outlets to over 100 touchpoints by FY27. It is also broadening its range of products for children aged 1-11. Sports and monsoon footwear are being prioritised. They are also evaluating opportunities internationally, such as the US and the Middle East.

"Leaps is doing phenomenally well in the product segment. So we are seeing new launches in new stores for new channels for the age group 1-6," Mittal said.

Asian Footwears is making a large investment of Rs 100 crore in building a manufacturing park in Bahadurgarh, Haryana. This is expected to be up and running by January 2027, increasing monthly production by around 14 lakh pairs.

They aim to have 150 exclusive stores by the end of FY27 and 100 additional stores in FY28.

Bata India also aims to grow its children's offering with new ballerinas and an increased range of sneakers. "We are aiming that we will get to 3,000 stores in the next three to four years," Rastogi said.

As India's footwear market becomes more organised, children's footwear is emerging as an important growth category. With parents seeking better comfort, design and value, brands are investing in products and distribution to meet changing demand. The next phase of growth will depend on how effectively they balance affordability, innovation and accessibility.

The Indian jewelry sector has always represented a symbol of tradition, emotion, and investment. In this ever-evolving market with opportunities worth USD 100 billion expected by 2027, there have been new ways in which the brands have been engaging with their customers. Senco Gold & Diamonds is one such brand that has kept evolving with the changing dynamics of the market but staying true to its roots.

Having started in the year 1938, Senco has evolved from being a mere regional jeweller to become a nationwide retailer with 190 showrooms. This evolution has not been merely one of growth but has involved an entire transformation to keep up with changing consumer preferences.

Moving Beyond Geography

The strategy of Senco has always been one of geographic expansion and category diversification. While the brand continues to maintain a strong presence in East and North India, it is actively entering newer markets to tap into rising demand.

“Growth is coming from a mix of market expansion and category diversification, especially through lightweight and affordable jewelry for younger consumers,” said Suvankar Sen, Managing Director and CEO, Senco Gold & Diamonds.

This shift is closely tied to the evolving aspirations of India’s consumers. In the last 20 years, the trend has shifted from wedding jewelry to day-to-day wear, driven by professionals and younger customers who require flexibility.

The Omnichannel Revolution

One major development in the transformation of Senco is that of transforming from a local retailer to an omnichannel company. This transformation has allowed the company to integrate digital discovery with physical retail experiences.

“The most significant strategic pivot has been becoming a pan-India omnichannel brand through a balanced company-owned and franchise-led expansion model,” noted Sen.

Digital platforms play a vital role in shaping buying decisions in today’s retail scene. More and more consumers are looking at designs online before they go to a store, so brands need to be able to offer a smooth online-to-offline journey.

Growth Model

Senco has 190 stores in its retail network, comprising 105 company-owned and 85 franchise stores, and franchise expansion is a key avenue for growth. This asset-light approach allows for faster scalability, with less capital intensity.

The model is also in line with the larger industry trend of working with local entrepreneurs to tap Tier II, III, and IV markets. Urbanisation and growing brand awareness are driving consumption in these regions.

“Franchise partnerships allow us to expand efficiently while maintaining strong brand standards and operational consistency,” Sen explained.

Changing Product Preferences

Jewelry is in the process of a major change in consumer preferences. In the last three years, Senco has definitely seen a move towards lightweight jewelry, everyday collections, and lower caratages such as 9K and 14K.

This evolution is reflective of changing lifestyles and spending patterns, especially among younger consumers who prioritise affordability and design versatility. Diamond jewelry also saw strong momentum with substantial increases in both volume and value. "At the same time, the average ticket size is still in the range of Rs 90,000 to Rs 100,000, which is a good mix of aspirational and investment-driven purchases," Sen highlighted.

Inventory Management and Innovations

Effective inventory management has now become an issue, particularly in a market that is affected by volatile prices of gold.

The company resolves this issue by conducting demand forecasting based on data and innovative designs.
With about 1.5 lakhs of new designs launched every year, the company maintains a good flow of innovations to cater to varied consumer preferences.

“Focus is on optimum inventory, sell-through, and design refresh to remain consumer-led,” Sen said.
This not only ensures effective operations but also builds consumer engagement.

Repeat Purchases and Loyalty

A major part of the Senco success story is the result of their loyal clientele, accumulated over decades of establishing trust. Repeat purchases make up nearly 50 percent of the company’s operations due to schemes that involve relationships, exchanges, and purchases for weddings.

The repeat purchases demonstrate the importance of trust in the jewelry industry because purchasing is as emotional as it is monetary.

Future Trends: Steady Expansion

In a maturing industry, Senco is opting for a strategic expansion strategy. The focus is shifting from aggressive growth to sustainable and profitable scaling.

“Retailers today are making sharper and more considered choices about expansion, which is building a more resilient long-term sector,” Sen observed.

The brand is also exploring new retail formats such as smaller stores, experience centres, and curated platforms to enhance accessibility and customer engagement.

The Way Ahead

The path to the future in jewelry retail will have to lie in the integration of the old and new. This entails technology integration, omnichannel excellence, innovation in product range, and yet retaining the human element in the process of jewelry purchase for Senco.

As Sen said, “Discovery may start digitally, but the experience of jewelry is physical.”

Senco Gold & Diamonds provides a case-in-point on how established brands can evolve and grow while continuing to stick to the fundamentals that made them successful in the first place.

Facts:

• Founded: 1938
• Headquarters: Kolkata
• Total Stores: 190
• Franchise Share: ~45% (85 out of 190 stores)
• Core Category: Gold & Diamond Jewelry
• Average Ticket Size: Rs 90,000 – Rs 1,00,000
• Primary Markets: East and North India
• Target Store Count (3 Years): 300+ (indicative)

India's jewelry market is moving into a new phase driven by increasing consumer awareness, organised retail, digital discovery, and demand for products that fit both traditional occasions and everyday use. For heritage jewellers, the opportunity lies in combining established trust with newer formats, wider reach and changing consumer expectations. PNG Jewellers is pursuing this balance as it expands beyond its traditional markets and strengthens its omnichannel retail approach.

“India’s jewellery market continues to have significant headroom for organised retail, driven by rising disposable incomes, increasing consumer awareness, formalisation and the shift towards branded, transparent purchasing,” said Dr Saurabh Gadgil, Chairman and Managing Director, PNG Jewellers.

Expanding Beyond Traditional Markets

Founded in 1832, PNG Jewellers has built its business over generations around craftsmanship and customer relationships. The company now operates 80 stores, including 79 in India and one in California, US.

Its recent expansion has taken the brand beyond Maharashtra and Goa into markets including Madhya Pradesh, Uttar Pradesh, Delhi-NCR and Bihar. The company has also introduced newer formats and sub-brands, including YOOU, as it looks to address changing consumer preferences.

“Over 194 years, the brand has evolved across generations while retaining these fundamentals. More recently, our transformation has included expanding beyond Maharashtra and Goa, launching newer formats and sub-brands such as YOOU, strengthening our digital and e-commerce presence, and completing our IPO,” Gadgil said.

A Mix of Stores and Digital Channels

PNG Jewellers is using a combination of company-operated stores, franchises and digital platforms to build its retail network. Exclusive stores remain central to the strategy, while franchise formats provide an avenue for entering selected markets.

Digital commerce is being used to extend the brand’s reach beyond its physical locations, particularly for lightweight and contemporary jewellery. The company is also integrating its digital and physical touchpoints through websites, social media, e-commerce, CRM and WhatsApp.

“Our consumer journey increasingly starts digitally but often culminates in a physical store, particularly because jewellery remains a touch-and-feel category,” Gadgil said.

The approach allows customers to discover designs online, compare products and make enquiries before visiting a showroom, while also supporting engagement after the purchase.

Connecting with New-Age Consumers

As jewellery buying becomes more diverse, PNG Jewellers is looking beyond traditional bridal demand to lightweight, everyday and self-purchase categories. The company sees this shift as an important part of the market’s future growth. 

Celebrity associations are another element of its consumer engagement strategy. Partnerships with Madhuri Dixit, Ranbir Kapoor and Sara Tendulkar allow the brand to communicate with different age groups and consumer segments.

“At the same time, campaigns around collections and initiatives such as our Mangalsutra Mahotsav and Bangle Mahotsav allow us to translate cultural relevance into product-led engagement,” Gadgil said.

Building the Next Growth Phase

PNG Jewellers expects organised jewellery retail to gain further ground as consumers increasingly prioritise transparency, brand credibility and convenience. The company’s own growth plans focus on geographic expansion alongside investments in technology, contemporary collections and newer retail formats.

“Our focus for the next two years is to build PNG Jewellers into a stronger national jewellery player while retaining the trust associated with our legacy,” Gadgil said.

The company plans to deepen its presence in existing markets while pursuing opportunities across Central and North India. Its objective is to make the brand accessible to a broader consumer base without changing the standards associated with its long-standing heritage.

For PNG Jewellers, the next phase is less about choosing between tradition and modern retail and more about bringing the two together as India’s jewellery market becomes increasingly organised, connected and consumer-driven.

Facts:

• Brand: PNG Jewellers
• Founded: 1832
• Spokesperson: Dr Saurabh Gadgil, Chairman and MD
• Number of Physical Stores: 80 (79 in India, 1 in California)

KISNA Diamond and Gold Jewellery is part of the Hari Krishna Group, which was founded in 1992. Built on capabilities across diamond sourcing, cutting, polishing, and manufacturing, the group created a strong backend that later shaped Kisna’s retail journey.

Launched in 2005 with the philosophy “Har Ghar Kisna,” the brand set out to make certified diamond jewellery more accessible at a time when diamonds were largely limited to metros and special occasions.

Growing with Confidence and at Scale KISNA’s evolution has been a phased one through the years, from manufacturing strength to widespread distribution and now a focused retail presence. Today, the brand claims to have over 1,500 points of sale across 28 states and operates 150+ exclusive stores, with plans to reach 200 stores by Diwali 2026. This expansion reflects a broader shift in India’s jewellery market, where organised retail is steadily gaining ground over unorganised players.

“India’s jewellery retail market remains one of the most resilient consumption categories, driven by its cultural and emotional significance,” said Ghanshyam Dholakia, Founder and Managing Director, Hari Krishna Exports Pvt Ltd and KISNA Diamond and Gold Jewellery. “What is changing is the shift from occasion-led purchases to more frequent buying driven by gifting and self-consumption."

Changing Consumer Behaviour

The rise of everyday jewellery consumption is reshaping demand. Diamonds, in particular, are emerging as a growing segment, supported by increasing consumer preference for transparency and certification. KISNA claims to address this by offering 100 percent IGI-certified diamonds, BIS-hallmarked gold, and structured buyback and exchange policies.

“Diamond buyers today seek assurance in certification, pricing transparency, and resale value, which is pushing them towards organised brands,” Dholakia noted.

With a portfolio of 12,000+ diamond designs and 25,000+ gold designs across 18KT, 14KT, and 9KT, the brand is aligning its offerings with evolving consumer needs, especially in everyday wear and gifting.

A Multi-Format Retail Strategy

KISNA’s retail network operates through a mix of formats. Shop-ins have scale and local trust while exclusive stores offer an enhanced brand experience. Around 65 percent of these stores are franchise-led, with investments starting at Rs 8 crore, indicating strong partner confidence. Each store generates approximately 10 local jobs, contributing to regional retail ecosystems.

“Jewellery retail in India is inherently hyperlocal, and trust is built market by market,” stated Dholakia. “Multiple retail formats allow us to balance reach with consistency.”

Omnichannel and Operational Strength

The brand’s approach reflects the “phygital” nature of jewellery buying. While digital platforms support discovery, physical stores remain central for final purchase decisions. Backed by an integrated manufacturing system, KISNA claims to deliver 95 percent of major orders within 48 hours.

Looking Ahead

With organised retail expanding into smaller cities, KISNA is focusing on Tier II and Tier III markets while strengthening its product and distribution systems. “The next phase of growth will come from markets where branded jewellery is still new but demand is rising rapidly,” Dholakia added. 

As the category evolves, Kisna’s journey highlights how manufacturing depth, distribution scale, and trust-driven retail can shape growth in India’s jewellery sector.

Facts:

• Year of Incorporation: 2005
• Physical Stores: 156

Diwali is an occasion for celebrating new beginnings, and refreshing the home is often an important part of the festivities. From decorating living spaces and preparing the dining area for family gatherings to adding thoughtful accents to bedrooms and entryways, home decor plays a key role in setting the festive mood. This also makes home furnishings and decorative accessories thoughtful gifting options for friends, family members, and loved ones.

For those looking beyond conventional festive gifts, furniture, statement fixtures, and functional decor pieces offer options that combine aesthetics with everyday utility. Whether it is a coffee table for the living room, a dining set for family gatherings, or a decorative console for the entrance, the right addition can bring a fresh perspective to familiar spaces.

Here are five home decor and furnishing gifts to consider this Diwali.

Best Home Decor Gifts to Buy This Diwali

1. GADOTT Regalia Crystalo Faucet: A Statement Addition to the Bathroom

For someone who appreciates distinctive interiors, the GADOTT Regalia Crystalo basin mixer offers a decorative addition to the bathroom. Its crystal-inspired silhouette and sculpted detailing bring an artistic element to the vanity, while the distinctive handles add to its visual appeal. Unlike conventional home accessories, a statement bathroom fixture can influence the overall character of the space without requiring a complete renovation. The Regalia Crystalo is suited to homeowners looking to introduce a touch of luxury through carefully chosen fittings. It makes an interesting Diwali gifting option for those who enjoy refined interiors and pay attention to design details across their homes.

2. Urban Ladder Cayman Round Glass-Top Coffee Table: A Centrepiece for the Living Room

The living room often becomes the centre of festive gatherings, making furniture an appropriate choice for a home-focused Diwali gift. Urban Ladder's Cayman Round Glass-Top Coffee Table combines a glass surface with a wooden base, bringing together contrasting materials in a contemporary design. Its round silhouette makes it suitable for different seating arrangements, while the tabletop provides space for decorative accents, fresh flowers, candles, and festive accessories. Beyond its decorative appeal, the coffee table serves a functional purpose in everyday living spaces. It is a suitable gifting choice for homeowners looking to refresh their living rooms with a piece that balances utility and design.

3. Furniselan Boston Solid Wood Rattan Cane Dining Table Six-Seater Set: For Festive Family Gatherings

For families who enjoy hosting festive meals and get-togethers, the Furniselan Boston Solid Wood Rattan Cane Dining Table Six-Seater Set offers a functional home furnishing gift. The set combines a wooden dining table with rattan cane detailing on the chairs and a bench, creating a mix of natural materials and warm textures. Its six-seater arrangement accommodates family meals and social gatherings, while the combination of individual and bench-style seating adds flexibility to the dining area. The warm brown finish and cane elements lend a natural character to the space, making it an option for those looking to create an inviting setting for festive celebrations.

4. Fabindia Sattva Mango Wood Bedside Table: A Functional Bedroom Addition

Home decor gifting can also extend to personal spaces such as bedrooms, where smaller furniture pieces can make a noticeable difference. Fabindia's Sattva Mango Wood Bedside Table offers a compact and functional addition, with its wooden construction and natural finish bringing warmth to the interiors. It provides a convenient surface for keeping everyday essentials within reach while complementing bedrooms featuring natural materials and understated design elements. Its practical size makes it suitable for different bedroom settings, while the mango wood construction adds to its traditional appeal. The bedside table makes a thoughtful Diwali gift for someone who appreciates functional furniture with a simple, natural aesthetic.

5. Ellementry Autumn Dusk Console Table: A Welcoming Addition to the Entryway

The entryway creates the first impression of a home, making it an ideal space for a decorative upgrade. Ellementry's Autumn Dusk Console Table offers a functional surface for arranging flowers, decorative lights, candles, and festive accents. Its design allows homeowners to style the entrance without occupying too much floor space, while also providing room for keeping everyday essentials organised. During Diwali, the console can be decorated with diyas, festive arrangements, and seasonal accessories to create a welcoming entrance for guests. Combining decorative appeal with everyday functionality, it makes a considered gifting option for homeowners who enjoy styling their living spaces.

Conclusion

Home decor and furnishing gifts offer an opportunity to make Diwali celebrations more personal by choosing pieces that become part of everyday living. From statement bathroom fixtures and contemporary coffee tables to dining furniture, bedside tables, and decorative consoles, these options cater to different spaces and interior preferences.

Whether gifting someone who enjoys hosting family gatherings or a homeowner looking to refresh their personal spaces, thoughtfully selected home decor pieces can add both character and functionality. This Diwali, furniture and design-led accessories offer an alternative to conventional presents, bringing a lasting touch to festive gifting.

Frequently Asked Questions (FAQs)

1. What are the best home decor gifts for Diwali 2026?

Some home decor gifting ideas for Diwali include coffee tables, dining sets, bedside tables, decorative consoles, statement bathroom fixtures, tableware, lighting accessories, and decorative accents. These gifts combine aesthetic appeal with everyday functionality.

2. Why is home decor a good Diwali gifting option?

Home decor makes a thoughtful Diwali gift because it can be used beyond the festive season. Furniture and decorative accessories help refresh living spaces while reflecting the recipient's personal style and interior preferences.

3. What are some practical home decor gifts for Diwali?

Practical home decor gifts include coffee tables, bedside tables, dining furniture, console tables, decorative bathroom fittings, and storage accessories. These products combine utility with design and can become part of everyday home settings.

4. What are some home decor gifts for someone who enjoys hosting?

Dining table sets, coffee tables, decorative serving accessories, tableware, and statement lighting are suitable gifting options for people who enjoy hosting family meals and social gatherings.

5. How can I refresh my home for Diwali without renovating?

A festive home refresh does not require a complete renovation. Adding a new coffee table, updating furniture, introducing decorative lighting, styling a console with festive accessories, or upgrading bathroom fittings can give familiar spaces a fresh look.