Delhi Delhi. The appliance and consumer electronics industry is expected to witness nearly 30 per cent growth in festive season sales this year following a double-digit jump from online sale events by leading e-retailers Flipkart and Amazon and an expected final push from offline channels during the Dhanteras week. . Industry leaders said premiumization is the trend this festive season, where consumers are willing to pay extra for features like energy efficiency, higher capacity and larger size and even for high-end AI and IoT technology-driven Showing interest in the products also.
Companies like LG Electronics, Panasonic, Sony, Godrej Appliances and Haier started their festive sales off to a good start from the Onam festival and are expected to continue the momentum for the remaining weeks of the nearly 45-day festive period ending after Diwali. To create premium ranges like large screen TV panels from 51 inch screen size, washing machines with higher load capacities and French door refrigerators (with two side-by-side doors), manufacturers are offering incentives with attractive financing schemes, digital And investing in branding and promotion on traditional mediums. Sanjay Chitkara, Senior VP-Home Appliances, LG Electronics India, said, “There has been good growth across all categories, especially in premium products like large capacity washing machines and refrigerators. We are seeing good demand for products with AI and IOT technology. ” He said that this festive season there has been an increase in demand for premium products even from smaller Tier II and III markets, which is encouraging.
Comments are closed.