With just days away from Diwali and the ongoing festive season which typically starts from Raksha Bandhan and goes on till Bhaidooj, consumer durable companies are anticipating growth in double-digits, between 30-50 per cent this year. “With markets picking up this year and a good monsoon, we have noticed an uptick in sales for the appliances industry. For Godrej Appliances, we have seen an impressive growth of close to 40 per cent since the start of Onam in September. October, driven by Durga Puja and the upcoming Diwali celebrations has delivered close to a 45 per cent surge so far. As we approach Diwali, we are driving 50 per cent growth, thanks to our robust product lineup, exciting offers, and the increasing demand for premium and convenience forward appliances,” said Kamal Nandi, Business Head and Executive Vice President, Godrej Appliances.
Even as the industry witnessed a sluggish first half of the year, the festive season is anticipated to bring recovery in sales. There is optimism that pent-up demand from H1, coupled with the festive shopping period, will offset earlier slowdowns. Naveen Malpani, Partner, Grant Thornton Bharat, said, “Consumer durable companies are anticipating a significant surge in sales during this festive season. Most companies are anticipating as much as 40 per cent YoY growth in festive sales this year, fueled by robust consumer demand and strategic promotional activities. Typically, the festive period can contribute up to 30-35 per cent of their annual sales, making it a pivotal time for revenue growth.”
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While maintaining that with brands making efforts, this festive season will see industry growth in comparison to last year, Ravi Saxena, Co-Founder and CEO, Wonderchef, said, “In the domestic appliances industry, the four festive months of July-Oct account for almost 50 per cent of yearly sales. This means that the average sales in these months are twice that of regular months. We expect a similar surge this year too and the green shoots are already visible.” He also added that the brand is growing by 20-25 per cent YoY every quarter for the last 3 years.
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Panasonic Life Solutions India too witnessed more than 50 per cent increase in AC sales and 30 per cent rise in refrigerators sales this summer season.
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