Top Story

e4m_logo.png

Home >> Marketing >> Article

Consumer durables market poised for high growth: FICCI

18-October-2005
Font Size   16
Consumer durables market poised for high growth: FICCI

The Federation of Indian Chambers of Commerce and Industry (FICCI) has painted a rosy picture on growth prospects for the consumer durables industry this fiscal.

In a survey, FICCI has found that that most of the consumer durables segments are set to see a double-digit growth in the current fiscal.

While the colour television segment is expected grow by 15-20 per cent, the projected growth for the VCD/MP3 player segment is 20 per cent, 25 per cent for DVDs, 5-10 per cent for refrigerators, 20-25 per cent for air-conditioners, 5-10 per cent for washing machines and 25 per cent for microwave ovens.

Releasing the findings of the survey, the FICCI President, Mr Onkar S. Kanwar, said, "Competition and the narrowing down of the price differential between branded and non-branded goods are inducing companies to offer efficient after-sales service and support. And this is influencing customer preference in favour of branded products."

The survey also highlights the shift towards the organised segment. The share of the unorganised segment has come down sharply to 8-10 per cent from 40-50 per cent, as the price differential between the two segments narrows down.

It also points out that rural India offers a huge growth opportunity for consumer durables manufacturers. While the urban consumer durables market is growing annually at 7-10 per cent, the rural market is zooming ahead with an annual growth of 25 per cent.

Tags

Vijay Mansukhani, speaks to exchange4media about the resurgence of Onida, the scope of growth of consumer electronics market in India and the reasons why Indian consumer electronics brands don’t compete on a global scale

Projjol Banerjea opens up about hiring Anne Macdonald and GroupM's Rob Norman, and the brand's new identity

Meera Iyer tells exchange4media that in FY 2016/17, bigbasket clocked a revenue of Rs 1,400 crore. The online supermarket currently stands at 70,000 orders a day, with operations in 25 cities.

CMO, Kashyap Vadapalli on the start-up’s marketing play, why it has decided to stay away from IPL and response to its furniture rental apps

Mumbai was chosen in keeping with the company's focus on featuring their proprietary technologies over undiscovered markets like South Asia

The campaign, featuring brand ambassador Farhan Akhtar, exhorts consumers to showcase their achievements through the walls of their homes.

We list a few important stories that you may have missed in the week gone by