Durable makers witness pickup in sales
The industry, which concluded the festive sales with a growth of 15-20% mainly driven by premium products, got a further boost during the wedding season
New Delhi: Leading home appliance and consumer electronics makers witnessed pickup in sales in the wedding season, mostly on demand for entry-level mass products from non-metro cities of the hinterland.
The industry, which concluded the festive sales with a growth of 15-20 per cent mainly driven by premium products, got a further boost during the wedding season. In November, after getting some initial responses, companies including LG, Godrej Appliances, and Panasonic extended their festive offers along with financing schemes on products ranging from washing machines, refrigerators, TVs, micro ovens to small kitchen appliances.
Consumer Electronics and Appliances Manufacturers Association (CEAMA) President Sunil Vachani said the ongoing wedding season is anticipated to boost the demand for mass and entry-level segments of the industry. “Many companies experienced a positive trend in November, thanks to the festive spirit of Diwali and the ongoing wedding season,” he said.
A survey by industry body CAIT said that during the ongoing wedding season, beginning November 23, around 35 lakh weddings are expected to be held, generating a business of Rs 4.25 lakh crore. According to Godrej Appliances Business Head and Executive Vice President Kamal Nandi, the wedding season generally provides a thrust to the sale of refrigerators and washing machines among other appliances post the festive season and this majorly happens in rural areas and for entry-level segments. However, he added:”This year we have witnessed that due to inflation, people are moving out of gifting appliances in marriages. We will need to wait and watch the trend before we can share a wedding sale estimate.
