Comments
Technical consumer goods including TVs, smartphones and laptops, witnessed dynamic sales trends during this festival season driven by consumer finance schemes, cashbacks and discounts.
Panel TVs and Flat TVs clocked 53 per cent sales growth and 39 per cent value growth in the Dussehra-Diwali period over same period last year, per the latest analysis released by GfK. Smartphones garnered 41 per cent growth in units and a 31 per cent increase in value between the two festival periods. Meanwhile, laptops saw a 26 per cent growth in units and a 23 per cent rise in value . Additionally, cooling appliances also displayed considerable growth rates, it added.
Anant Jain, Head of Customer Success Management, India at GfK- an NIQ Company, stated, “This festival season has witnessed a notable increase in sales growth compared to last year. Brands strategically employed multiple discounts, promotional offers, cashback, and consumer finance options, contributing significantly to this growth.”
Entry-level
“While laptops experienced relatively lower growth, the festival discounts led to a slight decrease in the average selling price, aligning with the normal trend during this period. Furthermore, the entry-level segments across categories also exhibited growth this festive season compared to the previous year, indicating a positive trajectory. Premium products across TV, Refrigerators, and Smartphones witnessed growth as well, propelled by lucrative offers,” he added.
Laptops, Panel TVs, smartphones, washing machines and cooling appliances witnessed strong growth during Diwali week compared to the preceding week. Per GfK, the laptop category saw a 151 per cent increase in volume and an impressive 146 per cent growth in value during Diwali week in comparison to the preceding week, while panel TVs registered 142 per cent volume and similar value growth.
“Smartphones continued to see a substantial boost, reflecting a remarkable 125 per cent volume growth and an impressive 110 per cent increase in value (during Diwali compared to preceding week. Additionally, washing machines and cooling appliances also witnessed growth in similar range,” the statement added.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.