White goods sales shoot highDomestic white good companies have reported a faster growth in the sales of high-end consumer durables in January-June 2007 reveals a study by ORG-Marg.
Apnaloan.com Research Bureau
10 Aug 2007
Domestic white good companies have reported a
faster growth in the sales of high-end consumer durables in January-June 2007. A
study by ORG-Marg reveals that the sales of premium domestic electronic products
like plasma/LCD TVs, split-ACs, frost-free refrigerators, fully-automatic
washing machines and home theatres have grown at a mind boggling pace.
Principal reasons for the sharp spurt in sales growth of high-end products are greater consumer awareness, more affordable prices and the profusion of attractive consumer finance schemes.
According to the report, while TV sales have grown by 21%, LCD TV sales have grown by 47% and plasma TV by 43% during January-June 2007 compared to the earlier corresponding period. The frost-free segment grew 42% compared to the refrigerator category that clocked a modest 15% growth. The AC market has recorded 51% growth in the same period while the split AC segment grew by 83%.
The fully-automatic washing machines have grown at double the rate compared to the overall market growth rate of 23%. Categories like the home audio segment have grown by 0.9%, the home theatre systems space has grown by 72%. Such pace of growth among premium products is in stark contrast to the overall industry growth rate of 17%.