The Hindu Business Line : Durables sales in H1 surpass last year’s annual growth: Survey

New Delhi, Oct. 29 Led by buoyant demand for premium and superior technology products, sales in the consumer durables industry in the first half of the current fiscal surpassed the numbers for the entire year in the previous fiscal.

In April-September 2007, the industry reported a 13 per cent growth as compared with 11.5 per cent for the entire 2006-07 and 8.5 per cent the year earlier, according to a FICCI consumer durables goods survey.

Rural growth

The survey found that the rural market, which accounts for 70 per cent of the population, is recording 25 per cent growth annually as compared to the urban consumer durable retail market at about 7-10 per cent.

Among the fast-moving consumer durables, flat panel televisions, LCD TVs, plasma TVS, slim CRT, frost-free refrigerators, fully automatic washing machines, split air conditioners, DVD players, microwave oven and home theatre systems recorded robust sales.

In the first half of the current fiscal, air conditioners grew at 40 per cent as against 25 per cent last year, split air conditioners at 80 per cent as compared with 58 per cent, frost-free refrigerators (35 per cent), fully automatic washing machines at 40 per cent from 33 per cent last year and microwave ovens saw a jump of 75 per cent from 27 per cent in the same period last year.

“The survey reflects the changing dynamics of consumer behaviour. Luxury goods are now being perceived as necessities with higher disposable incomes being spent on lifestyle products,” said Mr Habil Khorakhiwala, President, FICCI.

Products that included marginal increase were refrigerators at 12 per cent in April-September this year as compared with 10.3 per cent last year, colour television at 15 per cent from 14.4 per cent last year, watches at 12 per cent from 10 per cent and direct cool refrigerators at 10 per cent, up from 8 per cent last year.

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