The festive season has arrived. While all the brands across all segments are gearing up for the season, consumer durables makers are no behind. The consumer durables are expecting a sale spike by up to 35 percent, ahead of sale on the back of good monsoon, pent up demand and the 7th pay commission payout. Players like Sony, LG, Samsung, Panasonic, Haier, BSH Household Appliances and Videocon, are estimated to have set aside nearly Rs 500 crore to spend on marketing to push sales during the festive period. According to the Consumer Electronics and Appliances Manufacturers Association (CEAMA), in 2016 the industry is pinning all its hopes on the upcoming festive season wherein, “noteworthy players” have allocated anywhere between 30 to 40 percent of their budget on marketing. Also Read - Sony PlayStation 5 games launching in Aug, Sept that we are excited to playAlso Read - Samsung Galaxy A22 in pictures: A fancy 5G phone
“With an overall positive customer sentiment, consumer durables companies expect to increase their sales by almost 15 to 20 percent,” CEAMA President Manish Sharma told . To attracts its customers, the companies have lined up a host of schemes, offers and discounts, including freebies such as music system, smartphones, tablets, strolley bags, steam iron, dry iron, sunglasses, hand blenders, extended warranty and cashback on purchase of TV, refrigerator, microwave ovens, washing machine and air conditioners.
“This festive saeson, we are going to start with a very strong and positive momentum…with all the promotions, we expect at least 35 percent growth in the panel business. Most of them would be driven by 32 inches and above,” Sony India sales head Satish Padmanabhan said. The company has already witnessed around 25 percent growth in sales during the Onam in Souther India this month, he added. Similarly, LG is expecting around 30 percent growth in sales this season as it expects good demand, especially in flat panels and home appliances segment. “We are very optimistic about festive growth as consumer sentiment is quite positive and till now we have seen good growth. We are targeting 30 percent growth this festive season,” said LG Electronics India Head, Corporate Marketing, Niladri Datta. ALSO READ: Flipkart to hire over 10,000 temporary staff for festive season
Panasonic, which has been receiving an encouraging response to its smartphones, is expecting the segment to do well this festive season. “The sales for smartphones is expected to grow by almost Rs 600 crore during the months of September to November with a 200 percent growth jump from what was seen last year in the segment,” said Panasonic India Head – Sales and Service, Ajay Seth. Samsung too is expecting a double digit growth in sales this year. “We had a healthy monsoon this year. The festive season is estimated to generate good annual sales for consumer durables and appliances. Additionally, increased rural electrification and announcement of 7th Pay Commission will be key growth drivers this season,” Samsung India Vice President, Consumer Electronics, Rajeev Bhutani said.