They say every cloud has a silver lining. And, it stands exceptionally true to the consumer durables sector that has bounced back with much cheer during the festive season. There is no denying in the fact that the festive season from Onam to Diwali contributes to approximately 40 percent of the annual sales for the sector. That is probably the reason, that after surviving the storm during the lockdown, the industry is now bouncing back with brands announcing exciting offers to add to the festive cheer of the consumers.
Additionally, factors such as an evolved consumer behavior, economic push, especially in the non-metros, and the central government’s measures to boost consumer spending during the festive season, have further accelerated hopes for the sector to achieve its target for this year.
Over the past few months, consumers have sought products that not only upgrade their lifestyles but also add to the convenience and ease in their daily routines. For instance, side-by-side refrigerators, front-load and top-load fully automatic washing machines, large screen smart televisions, and dishwashers have influenced the sales to a large extent. With consumers spending much of their time at home, many of them are investing in smart home products that work in cohesion with their work and life balance.
The consumers who have not faced the economic fallout of the pandemic and have been saving up on several expenses such as travelling, eating out, and shopping for formal wear are open to spending on these products and take the benefit of the offers provided by the brands during the festive season.
For us at Haier, the festive season is one of the most crucial times of the year and this year the brand has recorded multiplied sales for most of its products across categories. For instance, the brand was up by 47 percent in sales during the 10 days of Navratri and Dussehra versus last year. Sales for our high-end products like side-by-side and bottom-mounted refrigerators, top-load and front-load washing machines, and Google Android smart televisions touched record high in September and October and the trend is expected to continue till Diwali. For each of these categories, the brand is expecting more than 50 percent growth this festive season. The credit to such an exemplary growth lies in Haier’s DNA of Inspired Living and ensuring ease and convenience for our customers through products that are packed with the latest innovations and smart features. We have always focused on motivating our customers to upgrade their lifestyles by offering exciting deals and offers on our huge repository of smart products.
To give consumers a chance to make the most of the festivities, this Diwali Haier is offering zero-down payment scheme along with no-cost EMI offers with up to 10 percent cashback on credit and debit cards of leading banks. We are also offering extended warranties across our range of cutting-edge products. With an affordable EMI of `2020 with Bajaj Finserv, customers can upgrade their homes and purchase new-age appliances, without any hassle. To ensure extra smiles for our consumers, we are also offering assured gifts on the purchase of Haier products.
To ignite and further strengthen the momentum in the market, Haier has launched a pan India marketing blitz across key mediums like print, digital, and social media, further supplemented with the in-shop promotion and display, which has created a very positive feel-good factor among our trade partners that is resulting in tremendous growth in sales. From setting up premium displays of our smart home range, which includes Google Android powered smart TVs, smart refrigerators, connected washing machines, and ACs with voice assistant control, to training 3500 shop executives for these demonstrations, we are aggressively working toward serving our customers.
The festive season this year has restored our faith in our customers and has provided us with enthusiasm to perform better and better. As the year ends, we hope to record approximately 50 percent year-on-year growth in sales this festive season. We believe from here the consumer durables industry will be on an upward progressive path to contribute more to the Indian economy. With positive hopes, I wish a very Happy Diwali to my industry peers and customers.