Appliance makers expect up to 30% rise in sales in festive season

appliance & consumer electronics industry expects around 30 per cent growth in festive season sales this year after a double-digit booster from online sale events of leing e-tailers Flipkart and Amazon and an expected final thrust from offline channels during Dhanteras week.

This festive season, premiumisation is flavour, where consumers are willing to pay extra for features such as energy efficiency, higher capacity and larger size and even showing interest in high-end AI & IOT Techlogy-driven products, industry leers said.

Companies such as LG Electronics, Panasonic, Sony, Godrej Appliances and Haier started festive sales with a good kick start from Onam festival and expect to continue momentum till remaining week of nearly 45-day festive period, which concludes after Diwali .

To make premium range as large screen TV panels above 51-inch screen size, higher lo capacity washing machines and French door refrigerators (with two side-by-side doors), manufacturers are incentivising with attractive financing schemes, investing in branding and promotion on digital and tritional mediums.

"re is good growth across all categories, especially in premium products like large-capacity washing machines and refrigerators. We are witnessing good demand for products featuring AI & IOT techlogy," said LG Electronics India, Senior VP-Home Appliances Sanjay Chitkara.

He ded that this festive season, demand for premium products has also increased even from smaller tier II & III markets, which is encouraging.

"Upcoming week is significant for festive sales as generally during Dhanteras re will be a high sell-out across India," said Chitkara.

Moreover, this year-inchs festive season sale also coincides with a strong wedding season this winter.

"re were t many wedding dates in summer this year refore wedding purchases are complimenting festival sellout," he said.

Godrej Appliances Business He and EVP Kamal Nandi said helped by a good monsoon markets have picked up this festive season. premium leing charge this season, though mass product segments also have shown significant growth.

"At Godrej Appliances, we have seen a growth of close to 40 per cent since start of Onam in September compared to last year. October, driven by a combination of Durga Puja / Navratri and upcoming Diwali celebrations has delivered close to 45 per cent surge so far," he said.

Over festive season sales on e-commerce platforms such as Amazon and Flipkart, Nandi said Godrej Appliances has overall "achieved an impressive 70 per cent-plus growth compared to last year".

Panasonic India-inchs e-commerce continued to grow in double digits and during Navratri , it witnessed over 20 per cent growth and hopes to continue momentum till Diwali.

"Consumption remains bullish for premium appliances. Wher it is offline or, online consumers are opting for higher ASP (Aver Selling Price) products" said Panasonic Marketing India Managing Director Fumiyasu Fujimori.

Sony India is also witnessing a surge in demand for large screen televisions especially 55-inch and above, with 75-inch and 85-inch screen sizes gaining significant traction, said its Managing Director Sunil Nayyar.

"We are offering lucrative bank offers and easy finance schemes to make purchase easier for our customers both in offline and online , he said.

Industry body CEAMA (Consumer Electronics and Appliances Manufacturers Association) projects around 20 growth this festive season.

Both e-commerce platforms and brick-and-mortar stores are witnessing this positive trend, underscoring significance of consumer electronics segment during festive season, said its President Sunil Vachani.

"During this festive season, both online and offline sales have seen a remarkable boost, where we have witnessed online marketplaces alone achieving high sales figures within a weeka 26% rise from 2023, he said.

re has been a particularly strong demand for LED TVs, air conditioners, large refrigerators, microwaves, and washing machines, driven by launch of new models and attractive offers, Vachani ded.

Haier India President Satish NS said its premium products are doing "extremely well" led by LED panels above 51-inch screen size and high-lo washing machines.

"People are willing to pay for premiumisation through consumer financing schemes, which is a good sign for industry. My expectation is that we should be doing about a minimum of 30-35 per cent growth in terms of value growth," he said.

Avneet Singh Marwah, CEO of ida-based Super Plastronics Pvt Ltd (SPPL), a TV and appliance manufacturing company having licenses of several global brands including Thomson, Kodak, Blaupunkt, White-Westinghouse - said consumers are w shifting towards bigger screens.

"This year festive sales have been good, especially in larger segment and we saw a 15 per cent growth in comparison to last festive season. segment which has really grown for us is 43-inch and 55-inch, re-inchs been a triple-digit growth in 65-inch and 75-inch since last year," he said.

BSH Home Appliances MD & CEO Saif Khan said with increased interest in home upgres and real estate, demand for premium and luxury appliancesparticularly front-loing washing machines, dishwashers, and built-in cooking ranges from Bosch and Siemenscontinues to grow.

"In pre-festive period leing up to Dussehra, BSH experienced a remarkable 40 per cent growth in eCommerce sales, primarily fueled by an increased demand for higher-capacity appliances," he said.