The highly celebrated occasion of Raksha Bandhan has had a significant space in the life of every Hindu household throughout the history of our nation. The compassion that leads India to participate in almost every other festival with warmth and affection is greatly reflected through the celebration of Rakhi. The holy bonding between siblings who go through the most foundational years of one’s life together is celebrated through this festival. The thread tying ceremony followed by exchange of gifts and sweets ensures a bond of siblinghood for a lifetime. RakshaBandhan, is understandably thus a festival that is associated with the deeply felt emotions of the Indian brothers and sisters spread all across the globe. And the expression of this association with the thread has as well changed over the years reflecting in the growth of the Rakhi industry.
In the past trends it had been mandatory indeed to exchange sweet delicacies. This trend has evolved over the years and now the crowds are growing more health conscious. Similarly the sentiments of Indians over the rakhi merchandise has as well changed trends over the years. Today durable, simple chic rakhis are equally appreciated as reflected in the sales graph as are floral eloquent rakhis. The variants in the ranges of rakhis with respect to design, cost efficiency and durability are adding up in options with every passing date.
|Rakhi trend||Popular State|
|Zari rakhis||South India|
Over the last two years the average pricing of each Rakhi has gone up by a minimum of 15 to 20%. This rise is partly resultant of the inflation that led to the rise in the price of raw materials. The rakhi thali that was available with most gifting stores was priced at a basic of INR 399 last year. This year the basic pricing of a customizable rakhi thali was 499 INR. Irrespective of the price rise the Rakhi industry saw an increase of 5 crore INR in the annual revenue last year. After all it’s a sentiment led festivity and thus quiet immune to market trend changes and inflation.
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