The tech and durables (T&D) sector recorded a 13 per cent value growth during the four-week festive season (Weeks 40-41: Sep 30-Oct 13, Weeks 42-43: Oct 21-Nov 3), on the back of heightened consumer demand across multiple categories, stated to the latest weekly insights from GfK intelligence. A report released by NielsenIQ said that categories such as large appliances, panel televisions, smartphones, and laptops have seen notable growth, with some products exhibiting stronger performance.
Anant Jain, Head of Customer Success – Tech & Durables, NielsenIQ, said, “The sales during the combined period of week of Diwali & a week prior (21Oct- 03Nov) accounted for 60 per cent of the festive sale. However, the growth over previous year was higher for the combined period of Navratri and Dusshera (30 Sep-13 Oct) than Diwali period.
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Interestingly, the report added, despite Diwali being the single largest week in sales volume, the highest growth was recorded in the week leading up to Diwali which could be due to weekend and promotional offers before the festival. This contrasts with the Diwali week itself, which did not see an increase in growth when compared to the previous year.
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“This suggests a shift in consumer buying patterns, with early shoppers driving the bulk of growth during the festive season this year,” Anant Jain added.
Category Dynamics and Consumer Behavior:
1. Smartphones: Smartphones were the largest category, driven by growing consumer interest in 5G devices. The segment that saw the most substantial growth was in the Rs 10,000- Rs 15,000 price range. The rise of affordable 5G smartphones, combined with attractive consumer offers, led to an upswing in demand, the report added.
2. Air Conditioners: Air conditioners, particularly split inverter models, saw growth, driven by consumer demand for energy-efficient and cost-effective options. The festive season witnessed a continuation of this trend,
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