The appliance and consumer electronics industry expects sales to grow 30 percent this festive season. They are expected to get more support for the absence of staff for domestic work and sales from home. The industry body Sima has informed this information.
The consumer electronics and appliances sector has already started positively with Onam in August. Sales have increased in the last few months. Because of the corona virus epidemic, people are looking for alternatives to help with housework. In such a situation, the demand for equipments like washing machine, microwave, dishwasher, fridge etc. has increased. Sony India Managing Director (MD) Sunil Nair said, “We have started the festival season positively with Onam. The television, home audio and personal audio businesses are expected to grow by about 20 percent compared to last year due to homework and staying at home.
Manish Sharma, President and CEO of Panasonic India and South Asia, said, “I believe this trend will continue in the upcoming festival season and in the near future.” The sustainable consumer goods industry has lost about 20 percent in the last few months. This festive season, we are hoping to recover some of the losses. Expressing the same opinion, the South Korean company LG said that they would expect a 30 percent increase this festive season. Vijay Babu, VP Home Appliances, LG Electronics, said, “We are optimistic about the overall business growth and a target of 30 per cent growth during the festive season. These activities will make up about 25 percent of total sales
Companies such as Panasonic, LG, Samsung, Sony, Voltas and BSH Home Appliances are expecting more new-age premium products such as large-screen TVs and large-sized refrigerators, as well as dishwashers, microwave ovens and washing machines.
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