Top Story

e4m_logo.png

Home >> Marketing >> Article

White goods makers in a festive mood

05-November-2004
Font Size   16
Share
White goods makers in a festive mood

This festive season is turning out to be a boom time for marketers. October saw automobile companies posting record sales growth. Now, consumer durables firms are witnessing a 30 per cent jump in sales over last year.

This year, the consumer durables industry expects festive buying to take sales figures beyond the Rs 4,500 crore mark. In comparison, overall sales in the country during October and November last year were around Rs 3,500 crore.

Market leader LG had set a sales target of Rs 1,300 crore, 35 per cent more than last year’s, before the season kicked off. “Consumer sentiment this year is so good that we are on track to beat our own estimates,” said Salil Kapoor, marketing head of LG India.

Buoyed by positive buying sentiment, rival Korean firm Samsung, too, has upped its sales estimates from Rs 500 crore just a few weeks ago to Rs 575 crore. According to the company, both urban and rural markets are doing well.

“We have had a very promising run during Onam in Kerala. Market conditions are favourable for growth to exceed 30 per cent,” said Ravinder Zutshi, vice-president (sales), Samsung India.

Mirc Electronics saw colour television set sales jump by over 54 per cent to an all-time high of 254,100 last month, compared with 164,669 sold in October last year. The company expects to sell around 375,000 sets by the end of the season, with revenues close to Rs 500 crore.

Philips India, which has seen sales jump more than 50 per cent during Onam this year, is on track to achieve its Rs 400 crore sales target. This will mark a 35 per cent growth over 2003.

Interestingly, durables manufacturers are expecting a boom despite the fact that rising input costs have left them with little room to offer big festival discounts.

Buoyant sales have dispelled fears of the bad monsoon proving to be a damper for consumer durables firms. According to Ajay Kapila, marketing and sales head of Electrolux Kelvinator, the impact of a poor monsoon in certain pockets has been negated by the healthy offtake of premium lifestyle products in urban areas.

“The momentum is so good that we are likely to double our festival season sales this year,” Kapila added.

Tags

Abhishek Punia, Co-founder and COO of ARM Worldwide, tells about how they re-branded themselves from ARM Digital to ARM Worldwide and in the process marked their presence globally

Srinivasan opens up on what prompted their recent rebrand, their foray into bus depots and developing the software that displays Bengaluru Metropolitan Transport Corporation's (BMTC) Passenger Information System for all the major bus depots in Bangalore.

Software and Technology, Consulting, Healthcare seem to be increasingly using Webinars to engage with their clients and employees

Chandy indulges in his love for reading and learning something new over the weekends

Though revenue from media operations grew by 10.6% yoy to Rs 760.8cr, the film production revenue declined by 18.0% yoy

At the inaugural one-on-one session between Aroon Purie, Chairman & Editor-in-chief of India Today Group and Anurag Batra, Chairman & Editor-in-chief BW Businessworld & Exchage4media Group, Purie spok...

At the 11th Indian Magazine Congress in New Delhi Rajdeep Sardesai, Consulting Editor, India Today, remembered the time when he used to work for Times of India