Consumer durables makers and retailers are witnessing a chartbuster Diwali, with sales soaring 40-45 per cent since the GST rollout on September 22. Companies said demand momentum has been strong across categories, led by premium products and expect the Dhanteras-Diwali weekend to deliver another spike in sales.
“The demand momentum is really good and the sellout on the ground is very strong during this festival season. Premium products are driving this growth. Metro cities are witnessing robust demand, and we expect rural sales to witness a bigger uptick in the coming days,” said NS Satish, President, Haier Appliances India. “For us, LED TVs followed by air-conditioners, washing machines and refrigerators are driving this growth. Overall, we are anticipating to garner 40-45 per cent growth in this festival season year-on-year.”
While premium products are leading the surge, companies said the mass segment has also started to pick up in the run-up to Diwali. “Demand momentum is sustaining, and premium product segments are clearly witnessing even higher growth,” said Kamal Nandi, Business Head and EVP, Appliances Business, Godrej Enterprises Group. “In the fully automatic front-load and top-load washing machine segment, we are seeing growth of over 90 per cent, and in the frost-free refrigerator segment, the growth is in excess of 45 per cent. Overall, we are on track to garner in excess of 40 per cent growth during the Navratri-Diwali festive period year-on-year.”
In a statement, Samsung India said that during the Navratri period, sales of premium smartphones rose 40 per cent, premium TVs surged 100 per cent and home appliance sales grew 30 per cent – setting the tone for what could be one of the most successful festive seasons for the consumer durables sector in years.
