The Diwali Season
One, it is a foregone conclusion that the sales would be slower - given the burgeoning interest rates, high inflation, job losses et al. That should have been obvious, even more so if you take into account the buildup to the season in terms freight increases, fuel price increases, LPG price revision, high food inflation, rising home loan EMIs (all issues that lower disposable income) slowdown in all macro-economic indicators. It should have been difficult to imagine any other outcome...
Two, The fear of a double - dip recession which is being expressed these days. With the European and American drama playing out the way it is, the problem (from a consumer's perspective) is only being exacerbated. And it is a fallacy to believe that this does not impact on sentiment - every little thing, each small factor has a perceptible impact on consumer sentiment
Three, We have just come out of a major recession, which means that people are likely to be far more defensive on hearing any negativity
Four, people are more aware, better informed and better connected than ever before. Try talking to anyone - shopkeeper, auto driver, doctor, housewife... the sentiment will be the same. I know because I did - and, in my opinion, so should every professional. We salesguys are supposed to be people in direct touch with the market - and who does the market comprise? People, that's who! More to the point, this means that points 1 - 3 would have been well known to the general populace...
And people are suprised at slower sales growth!!!! Amazing!!!!
The above only adds to only one conclusion... slower sales offtake was only to be expected.