Sunday marks Diwali, also known as the Festival of Lights, celebrated by millions globally. Often referred to as the 'Festival of Growth' in India, this period coincides with peak festival shopping, during which major brands unveil ambitious products and advertising agencies deliver creative narratives filled with festive emotions. The season plays a crucial role in Indian commerce, as cultural celebrations significantly boost the economy.
As the Indian diaspora continues to expand worldwide, the economic surge during Diwali is transcending borders, evolving into a global retail and cultural phenomenon. For instance, the car-buying trend associated with Diwali in India has also found its way to Canada. Several dealerships in the Greater Toronto Area (GTA) are aligning their offerings with festive buying patterns. Performance Auto Group in Ontario is attracting customers by providing a one-ounce silver coin with the purchase or lease of a vehicle.
Darshan Maharaja, an Indo-Canadian cultural commentator, highlights the increasing visibility of Diwali in Canada’s shopping landscape, noting, "In a way, one can say that the Christmas spending season starts one month early because of Diwali," as he communicated to OMNI News via email.
The month leading up to Diwali is filled with various festivities, including Dhanteras, which translates to the Day of Wealth. On this day, Indian families traditionally purchase gold or silver and exchange boxes of Mithai, South Asian sweets, with friends and family. Despite the current affordability crisis affecting many Canadian households, families are not opting out of Diwali celebrations but are instead modifying their spending habits.
Vikram Rana, owner of Rana Jewelers in Brampton, observes that consumers are now purchasing smaller items in larger quantities as opposed to big-ticket items. In contrast, some businesses are experiencing the adverse effects of global uncertainties. Soumya, who runs a small South Asian restaurant in downtown Toronto, reports that festive season orders have sharply declined by nearly 50 percent, attributing it to rising costs and changes in immigration policies that have reduced the number of international students.
According to the 2021 census, approximately 828,000 individuals in Canada identified as Hindu, about 772,000 as Sikh, and around 8,300 as Jain. Though Diwali is a significant festival for Hindus, Sikhs also celebrate Bandi Chhor Divas, and Jains observe Mahavir Diwas, both of which involve traditions surrounding light.
The Ontario Ministry of Tourism, Gaming, and Culture noted that the province's diversity attracts visitors who contribute to local economies through accommodation, dining, and shopping. Since 2018, about $520,000 in funding has been allocated through Experience Ontario for Diwali-related festivals and events, facilitating community attraction of visitors who support local businesses.
In Toronto, celebrations began weeks ahead of the main holiday. The Diwali Festival of Lights at Nathan Phillips Square showcased music, dance, and vendors offering food and clothing, concluding with fireworks on October 25. Another celebration at Mel Lastman Square featured 50 vendors and over 150 performers. Meanwhile, Brampton, home to Canada's largest South Asian population, is set to host a Diwali Mela on November 8.
