Consumer appliance makers in India expect double-digit festive sales growth

Consumer appliance manufacturers in India anticipate double-digit sales growth during the upcoming festive season, despite recent price increases of 5% to 8% on items such as air conditioners. This marks the third price hike this year, driven by rising costs of metals like copper, aluminum, and steel, alongside fluctuations in crude oil prices, freight expenses, and exchange rates.

Industry leaders expect demand to be bolstered by a shift toward premium products, the need for replacement appliances, improved consumer sentiment, and easy EMI financing options. Haier Appliances India CEO NS Satish projected that the company could see a 30-35% increase in sales value and a 20% increase in volume, while the broader industry may see growth of 10% to 15%.

LG Electronics India also expressed optimism, noting encouraging consumer inquiries during the Shradh period. Strong sales during the Onam festival in South India have further strengthened expectations for sustained demand during Navratri and Diwali.