Consumer durables companies facing loss this festive season

Consumer durables involve any type of products purchased by consumers that are manufactured for long-term use like washing machine, furniture, refrigerators etc. This festive season, consumer durables companies are witnessing slower sales.
  • Many companies like Panasonic India, Godrej Appliances and Usha International are finding sales in the ongoing festive season to be slower.
  • This is due to the pre-GST purchases. People were under the misconception of price hike after GST implementation. Therefore, they advanced their purchases to the end of June.
  • Online sales have also taken away a lot of demand in last month.
  • Still the companies are expecting sales to pick up as they are launching new products with attractive offers. Sale of consumer durables is expected to rise by 20-30% over the last festive season.
  • Implementation of 7th pay commission and good monsoon harvest will lead to growth in sales.
  • Apart from this, companies offering various deals, discounts, freebies, gift cards, cashback, extended warranty etc. have also attracted customers.
Consumer durables companies are launching new products with proper execution strategies in order to seek positive response in the marketplace.
 Source: http://bit.ly/2gkMuWm

 

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