Consumer Discretionary Q2 Preview - Demand Trends Remain Muted, Strong Recovery Expected In H2: Systematix

Systematix Research Report

Given the continually low demand on the ground and the fact that most consumption triggers have a tilt towards H2 FY25, we contend that Q2 FY25E will showcase a similar perform to Q1 FY25. In July and September of 2024, sales were further depressed by seasonal factors including the monsoons and the ‘Shravan’ and ‘Shraadh’ period.

The overall demand in metro and tier II/ III markets remained sluggish, despite a minor uptick in August.

Urban demand remained stable while rural saw a minor uptick. This led to a slower growth in Q2 FY25.

Going ahead, the festive and wedding seasons hold a lot of promise for all retail categories.

Our top picks would be Tilaknagar Industries, Arvind Fashions and Thomas Cook.

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