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.
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