Festive Cheer To Boost Appliance Sales: Home Upgrades, Premium Designs Drive Demand, Says Godrej!

As the festive season kicks off in India, Mr. Kamal Nandi, Business Head and EVP at the Appliances Business of Godrej Enterprises Group, shares his insights on consumer demand & trends.

He states, “After summer, festive is the next big consumption period for the consumer durables industry — both in terms of business growth and deepening consumer connect. The festive period accounts for 15-20% of the large appliance sale. Diwali marks a time when consumers look to invest in meaningful purchases, renovating and upgrading their homes leading to appliance upgrades. We see this period as an opportunity to strengthen our relationships with consumers by building on trust and innovation through the introduction of new models.

The festive season has begun on a strong note for us with sales momentum seen across both premium and mass segments across all product categories. Growth is being seen across categories with washing machines leading the pack; the growth in ACs can be attributed partially to GST reduction given that festive is not a peak AC selling season and we have seen growing traction for refrigerators in the premium frost free as well as mass segments. We are now quite optimistic about the Diwali spike in coming days. Supported by our diverse product portfolio packed with new designs and advanced AI technology, attractive festive offers, and renewed consumer confidence driven by GST-led optimism, we are targeting over 40% growth during the festive period this year.

This festive we expect more consumers upgrading their appliances as well as first timers adopting the category. The premiumization trend continues to shape the industry both in terms of premium segments and higher capacities, supported by easy finance access for consumers. Aesthetics is another aspect that has been gaining importance in the appliances sector with consumers moving beyond the conventional colours and finish and preferring appliances that complement their home decor. Also, appliances are moving towards AI-Powered technology that gives added convenience and comfort are increasing seeing takers. We have introduced several products in the premium segment with advanced features including AI Powered technologies, and enhanced capacities in each of our product categories.”