Consumer durable makers expect double-digit growth this festive season
The consumer durable industry is expecting a double-digit growth in the festive season sales this year, despite inflationary pressure on inputs that led to price hike twice in the year, shortage of components such as chipsets and a threat of a third wave of the pandemic.
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New Delhi: The consumer durable industry is expecting a double-digit growth in the festive season sales this year, despite inflationary pressure on inputs that led to price hike twice in the year, shortage of components such as chipsets and a threat of a third wave of the pandemic.
The makers such as Panasonic, LG, Haier, Godrej Appliances and Lloyds are expecting a pent-up demand and good growth in premium products across categories like large-screen TVs, front-load washing machines, and bigger capacity refrigerators. The companies are keeping their supply chain and inventory ready for the festive season, which starts in the North and other parts from Dussehra and goes up to Diwali and usually accounts for up to 30 per cent of their sales in a month. Makers have planned to launch new models along with a 360-degree campaign, cash backs, easy finance options as zero down payment and long-term EMI schemes. A good festive season sales would also help them recover the losses incurred on account of the second wave of the pandemic and lockdowns. "We are seeing a steady rise in demand for value-proposition appliances such as such as smart 4K Android TVs, connected range of ACs (HU series), refrigerators, washing machines, microwaves and other lifestyle appliances," Panasonic India President and CEO Manish Sharma told.
