NEW DELHI: Demand for high-end home appliances such as air conditioners, washing machines, smartphones, mobile computing, panel TVs and refrigerators has increased during the weeks of the October festival and November, according to data shared by market and consumer information platform GfK.
The information reveals buying trends for 2021 compared to 2020 in the weeks before, during and after Diwali and Dussehra. For 2021, it covered the period from October 4 to November 7. In 2020, he had followed the sales from October 12 to November 15.
Overall, the period saw an increase in the share of high-end electronics in overall sales of electronics and appliances.
“The industry has witnessed heightened consumer sentiment during the festive weeks. The increase during the week of Diwali (November 1-7) was higher this year, complemented by the increased contribution of the premium segment in key and sustainable technology categories like air conditioners, washing machines, televisions to panels, smartphones, mobile computing and refrigerators, ”GfK says in his hunches.
For example, refrigerators have increased 87% during Diwali week this year compared to the previous four week average, while smartphone volumes have increased 86% during the same period.
Most categories of white goods experienced an increase in traction during Diwali week, the researcher said.
A comparison of Diwali Week sales with the previous four week average revealed that most product groups exceeded last year’s Diwali Week increase.
Also sequentially, GfK compared the data for the weeks from October to November of this year. Most categories reported an increase in demand week over week from October 4 to November 7. During the first week of November – the week of Diwali – consumer electronics and appliances saw an 80-100% growth in value and volume compared to average weekly sales in October.
Growth was highest for the washing machine category.
According to the GfK weekly index which accounts for 30-35% of the total organized offline channels, while the Dussehra week accelerated the feelings of consumers and set up the festive platform, the preparation for the Diwali week has been the key to the overall performance of the market. Indexing to the week of October 4-10 showed good performance in most categories. The numbers indicate that Diwali’s highly anticipated build-up in 2021 was strong, he said.
Meanwhile, the online channel saw an increase in contribution in the month leading up to Diwali in major commodity groups.
“In October 2021, we saw an upsurge in the premiumization trend leading to double-digit value growth for electronics and home appliances, while smartphones represented high value growth single digit compared to October 20. Within the offline channel, we have seen premiumization The trend has continued to drive value growth, which has maintained the positive momentum in 2021 compared to 2020, ”said Dheeraj Mukherjee, Head of Sales for the India at GfK.
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