HIGH DEMAND FOR PREMIUM ITEMS
• Most consumer goods categories see 10-15% growth over last year
• Redseer estimates that sales through online channels grew by a fourth during the festival sales to $32,000 crore
• This growth is 68.4% higher than prepandemic days in 2019
• Share of mobile handsets down to 46% in 2021 from 53% 2018
• Industry executives say sales growth of automatic washing machines in high double digits, butsemi-automatic in single digits
• 43-55 inch and higher ultra-HD smart TV sets selling the fastest, followed by 65-inch category
• Sales of refrigerators larger than 350 litres growing by 20%
Defying negative sentiment, the country's leading manufacturers of consumer goods have managed to regain growth momentum this festive season.
After nearly two years of pandemic induced disruption and poor economic activities, sales in all key consumer categories have spiked since early October, primarily driven by the online channel.
From packaged foods to home appliances and personal electronics, most consumer goods categories have registered 10-15 per cent growth over last year, when sales remained flat.
This story is from the October 16, 2021 edition of Business Standard.
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This story is from the October 16, 2021 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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