Appliance prices rise, festive sales stay hot
New Delhi - Despite a 5-8 percent increase in appliance prices ahead of the festive season, manufacturers anticipate double-digit growth in sales driven by premiumisation, replacement demand, easy financing, and improved consumer sentiment. The third price revision this year has occurred due to rising costs of raw materials, increased freight expenses, and currency fluctuations.
Haier Appliances India CEO N S Satish asserts that double-digit growth is expected, citing premiumisation and easy financing as key factors. LG Electronics India Co-Chief Sales & Marketing Officer Sanjay Chitkara expresses optimism about the upcoming festive season, citing pre-festive inquiries and consumers' exploration of new categories like dishwashers and water purifiers.
Sony India Managing Director Sunil Nayyar expects overall value growth of around 15-20 percent during the festive season, with premium products and new launches supporting demand. Despite price hikes, manufacturers remain hopeful due to inventory already purchased at older prices and upcoming festivals that drive new home purchases and upgrades.
Written by urgent.news from The Economic Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
