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Festive Sales Surge: Premium Appliances Drive 20% Growth
7 Nov
Summary
- Consumer durables sales increased by 15-20% during the festive period.
- Premium appliances like TVs and refrigerators were top sellers.
- Festive offers prompted consumers to bring forward planned purchases.
This year's festive season, including Dhanteras and Diwali, witnessed a robust surge in consumer durable sales, climbing by 15-20%. Premium appliances and electronics, such as washing machines, televisions, and refrigerators, spearheaded this growth, with consumers prioritizing upgrades. Front-load washing machines, air fryers, large-screen TVs, and high-capacity refrigerators were among the most sought-after items. Many families took advantage of the festive offers to accelerate planned purchases for their homes. Retailers experienced strong footfall and order volumes, even for items not readily available in stock.Panasonic Life Solutions reported a 65% rise in sales for premium, energy-efficient air conditioners and a 21% increase for microwave ovens. Similarly, cookware company Wonderchef noted an estimated 25% growth, with a notable shift towards premium products like tri-ply stainless steel ranges and coffee machines. While the initial week of the season was moderate, the period leading up to Diwali saw a sharp spike in sales, compensating for earlier sluggishness. However, this strong demand was predominantly for premium items, as entry-level buyers showed more caution due to increased prices and economic uncertainties.
