This festive season amid rising inflation, demand for high and mid-range products has boosted sales of consumer durables and everyday use (FMCG) goods. The Consumer Electronics and Appliance Manufacturers Association (CEMA) said in a report that the segment is expected to grow sales by 20 percent in volume terms and over 30 percent in value terms.
Eric Braganza, President of, the Industry Association said, “The high and mid-range products have performed well in the festive season. This segment has seen at least 30 percent growth in volume terms. There has been an increase of 40-50 percent in value terms. Three days were very good for the sales of these categories of products.
Up to 15% drop in entry-level products
Braganza said the demand for entry-level products remained low during this festive season. This has resulted in a 10-15% drop in their sales. "Consumers have bought more expensive products this festive season due to increased spending sentiment," he said. Purchases in the rural market declined, mainly resulting in lower demand for entry-level products.
Demand better than last quarter
Sanjiv Mehta, Managing Director and CEO, of FMCG company Hindustan Unilever Limited (HUL) said, "September quarter sales have been higher as compared to the previous quarter (April-June) of the current financial year. The demand for premium brands has been seen as higher than others in the market.
Expected double-digit growth in sales
Fumiyasu Fujimori, Managing Director, of Panasonic Marketing India, said that consumers want a premium range of devices. Therefore, there was an increase in the sale of expensive products. The company expects double-digit growth in sales of smart ACs, large-screen TVs, and home appliances during the festive season.
In terms of value, the sale of air conditioners (ACs) this festive season has registered a growth of 38 percent.
LED sales grew 10 percent, while 4K TVs grew 34 percent.
During this period, the demand for top-load washing machines was also good, due to which its sales increased by 13 percent.
Russia becomes India's largest oil supplier: Saudi Arabia and Iraq left behind, Pakistan is still seeking discount
In terms of supplying crude oil to India, Russia has left behind Iraq and Saudi Arabia. According to the report of Energy Cargo Tracker Vortex (ECCV), Russia supplied 9 lakh 35 thousand 556 barrels of
Vijay Hazare Trophy: Ruturaj Gaikwad hit seven sixes in one over, and made many big records in his innings of 220*
Maharashtra opener Ruturaj Gaikwad has created history in the Vijay Hazar Trophy. He has become the first batsman to hit seven sixes in an over in List A cricket. He scored an unbeaten 220 off 159
GDP Data: The pace of growth of the Indian economy slowed down, GDP was 6.3 percent in the second quarter of 2022-23
The country's economy has grown at the rate of 6.3 percent between July and September in the second quarter of the current financial year 2022-23. In the first quarter (1st Quarter) of the financial
IPL 2023: HITMAN is not just a name, it is the EMOTION of the country! MI released a great video for Rohit Sharma
The most successful team in IPL is Mumbai Indians. In the year 2013, Rohit Sharma was made the captain of Mumbai. That is, for the 10th time this year, Rohit Sharma is captaining Mumbai Indians. In
Rapidx Inauguration: Electricity supply will be without tripping in Ghaziabad city till the stay of PM Modi, a team formed
Prime Minister Narendra Modi will arrive from Sahibabad tomorrow on Friday to launch RapidX. Will also address a public meeting in Vasundhara. There will be electricity supply without tripping till
PM Modi Visit: PM Modi to be honored with Lokmanya Tilak Award, Sharad-Ajit Pawar seen on the same stage
Prime Minister Narendra Modi is on a visit to Pune city of Maharashtra today. Here he will lay the foundation stone of various development projects and will also be honored with the Lokmanya Tilak
Real-time database of e-waste collection and recycling in the country will have to be strengthened, expert view
E-Waste Management As the dependence on electronic and digital services has increased in our everyday life, the amount of electronic waste i.e. e-waste is also increasing in the same proportion.
Ayodhya: Ram temple will be protected from all three sides, water, land, and sky, Rs 38 crore will be spent on a security plan
About 38 crore rupees will be spent on the security plan of the temple of Ramlala. The funds have been approved and the responsibility of construction has been handed over to UP Nirman Nigam. Its DPR
Arbaaz Khan shared a special picture of the Nikah ceremony with Shura Khan, the entire 'Khan family' was seen in one frame.
Arbaaz Khan And Shura Khan Nikah ceremony: Bollywood actor Arbaaz Khan has once again settled his house. The actor married once after six years of divorce from Malaika Arora.
Will China-US relations improve? US President Joe Biden and Chinese President Xi Jinping meet before G20
US President Joe Biden and Chinese President Xi Jinping met before the G-20 Summit in Bali, the capital of Indonesia. The meeting of these two is considered quite shocking in the way the tensions
