Brief
Appliance makers forecast double‑digit festive sales despite price hikes
Industry executives say premium‑focused products and financing will sustain demand through Navratri and Diwali.
By Felo News Desk · Published
Despite a 5‑8% price increase on air‑conditioners and other consumer appliances announced for early October, manufacturers expect double‑digit growth in Indian festive‑season sales, PTI reported on Oct 4.
What happened
The third round of price revisions this year was driven by higher raw‑material costs – copper, aluminium, steel and crude derivatives – as well as rising freight charges and currency fluctuations. The adjustments began on Oct 1, with Haier raising room‑air‑conditioner prices by about 5% and other categories such as LED TVs and washing machines by 2‑3%.
What the reports add
Haier Appliances India CEO N S Satish said the company expects 30‑35% growth in festive‑season sales value and around 20% growth in unit sales. He added that the industry overall should see 10‑15% growth. Satish highlighted that consumers who have already decided to buy are likely to either choose a slightly smaller model or use EMI financing to upgrade to a premium product.
LG Electronics India co‑chief sales and marketing officer Sanjay Chitkara described the upcoming Navratri‑Diwali period as “very optimistic,” noting encouraging pre‑festive enquiries during the Shradh period and the trend of festivals prompting new‑home purchases and upgrades.
What was said
"Definitely. It will," Satish told PTI when asked if the industry would record double‑digit growth despite the price hikes.
Satish also said, "The premiumisation story is happening and with the availability of easy finance… we will enable the affordability and premiumisation upgradation story."
Chitkara said, "Pre‑festive inquiries during the Shradh period have been encouraging," and added that festivals are increasingly an occasion for home upgrades.
How it came about
The price rise follows a strong start to the festive season, with robust sales during Onam in southern India. Industry analysts attribute the expected growth to premiumisation, replacement demand, easy financing and improved consumer sentiment. Some manufacturers note that dealers have stocked inventory at older prices through pre‑buying schemes in August and September, which may cushion volume pressure.
Earlier Felo coverage on price‑sensitive sectors, such as the UAE diesel hike (UAE movers and recovery firms weigh extra diesel cost after October price hike), illustrates how input‑cost spikes are being managed without immediate consumer price passes.
Key facts
- Appliance prices rose 5‑8% ahead of the festive season (news18.com)
- Haier expects 30‑35% growth in festive sales value (news18.com)
- Industry overall is projected to grow 10‑15% in sales (news18.com)
- LG sees encouraging pre‑festive enquiries during Shradh period (news18.com)
Sources
- [1] news18.com — originally reported as “Despite price hike, appliance makers expect double-digit growth in festive sales”
