Appliance sales spurt 30 per cent in Navratri season; e-commerce contribution rises
Appliances and consumer electronics companies have reported high double-digit growth in sales during this Navratri season, with e-commerce platforms seeing good traction as shoppers opt for contactless buying.
Leading manufacturers like Sony, LG and Panasonic have reported over 30 per cent jump in sales year-on-year during the 10 days of Navratri and Dussehra this festive season.
"We have seen a positive start to this festive season with a 30 per cent growth across air conditioner, refrigerator, washing machine and microwave categories over last year...the demand for LEDs has surpassed the supply," said Manish Sharma, president and CEO of Panasonic India and SA.
According to Sharma, under the changed circumstances, this season consumers are now seeking contactless routes and hence are preferring online purchases.
"Earlier, mainly small-sized appliances such as grooming products, audio accessories had a preference across online purchase. However, this year we have seen a significant increase in demand for large appliances such as refrigerator and washing machines," he said.
"We witnessed an exponential growth of 11.7X this festive season on e-commerce platforms."
Echoing his views, Sony India Managing Director Sunil Nayyar said the company witnessed exceptional growth in sales of large TVs (55-inch and above).
"The auspicious period of Navratri turned out to be very favourable for our television and soundbar sales in India, with an exceptional growth in the 55-inch and above segment," he said.
The company has found "a compelling behavioural change" in customers' buying pattern, which is now more tilted towards large-screen segment due to the stay at home environment, he added.
"This seems to be a positive sign for Sony and overall industry and we are hoping this momentum will continue until the Diwali festival," he added.
South Korean manufacturer LG Electronics has reported a high double-digit growth in sales of home appliances.
"We have seen highly encouraging festival season this year during Navratras. We have registered a growth of around 31 per cent in home appliances," LG Electronics India VP - Home Appliances Vijay Babu said.
The festive season sales, which go on till Diwali, account for up to 25 per cent of the total annual sales of the consumer electronics brands.
According to a joint report by CEAMA and Frost & Sullivan, the appliance and consumer electronics industry had a total market size of Rs 76,400 crore in 2018-19.
