Consumer Durables News

Electronics sales India: Electronic items see higher sales this festive season on discounts and financing options


Sales of televisions, smartphones, laptops, refrigerators and air-conditioners grew at a high pace this festive season as compared to last year in offline stores, as per latest data by sales tracker GfK.

The data shows television sales went up by 53% by volume or the number of units sold in the Navratri to Diwali as compared to the same period last year, while by value the growth rate was 39%. Smartphone sales surged by 41% in volume and 31% by value year-on-year, while laptops by 26% in volume and 23% by value. Cooling appliances sales went up by 33% by volume and 27% by value.

GfK said brands strategically employed multiple discounts, promotional offers, cashback and consumer finance options contributing significantly to this growth. The researcher said the entry-level segment across categories also exhibited growth this festive season compared to the previous year, indicating a recovery while premium products continued its high growth trajectory.

As per GfK, average selling price has been on a decline across categories this festive season which it attributed to consumer discount and change in product mix.

In the week leading to Diwali, in comparison to the preceding week, there was a significant jump in sales indicating consumers preferring to buy at the last moment.

GfK data shows the laptop category emerged as the frontrunner growing sales by 151% in volume and 146% in value. The second was panel television whose growth was 142% by volume and 138% by value.Smartphone sales growth rate was 125% by volume and 110% by value in the Diwali week as compared to the preceding week, washing machine 117% volume and value growth, and cooling appliances by 122% volume growth and 119% by value.


Source link