Major home appliance and consumer electronics makers saw a boost in sales in the wedding season, driven by demand for entry-level mass products from non-metro cities in the country. The industry stated that it ended festive sales with a growth of 15 to 20 per cent, majorly driven by premium products. It noted that it got a further boost due to the wedding season.
In November, firms such as LG, Godrej Appliances, and Panasonic extended their festive offers with financing schemes on washing machines, refrigerators, TVs, micro ovens, and small kitchen appliances.
Consumer Electronics and Appliances Manufacturers Association (CEAMA) President, Sunil Vachani, said, “The ongoing wedding season is anticipated to boost the demand for mass and entry-level segments of the industry. Many companies experienced a positive trend in November, thanks to the festive spirit of Diwali and the ongoing wedding season,” reported PTI.
A survey conducted by the Confederation of All India Traders (CAIT) stated that during the current wedding season, which started on November 23, about 35 lakh weddings are expected to take place and generate a business of Rs 4.25 lakh crore.
Kamal Nandi, business head and executive vice president, Godrej Appliances, noted, “The wedding season generally provides a thrust to the sale of refrigerators and washing machines among other appliances post the festive season and this majorly happens in rural areas and for entry-level segments. This year we have witnessed that due to inflation, people are moving out of gifting appliances in marriages. We will need to wait and watch the trend before we can share a wedding sale estimate.”
Further, firms have extended offers to attract customers with perks like additional warranties, cashbacks, etc. Fumiyasu Fujimori, marketing director, Panasonic Marketing India, added that the firm has been running special festive offers to meet the ongoing demand in the market.
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