A senior executive of Samsung Electronics Company noted that the company is seeing a hike in consumer appliance sales due to India’s festive months. Also, there has been a high demand for consumer appliances due to a nationwide lockdown.
Raju Pullan, senior vice president for consumer electronics at Samsung India said, “We are seeing 32 percent growth (year-on-year) across televisions, refrigerators, washing machines, and microwaves.”
Though the Coronavirus lockdown resulted the Indian economy to shrink by 23.9%, slowly the sales have rebounded as during the festivals, India tends to purchase gold, cars, and electronics which commences from October and lasts till December.
Raju Pullan said, “While the value of overall sales last month was much higher in metropolitan cities, the sales growth in smaller towns outpaced the bigger cities. Samsung witnessed a consumer behavioural change, people are now buying pricey, high-ended products.”
“Consumers are spending more time at home, and are not able to venture out for entertainment. That’s leading to some quality purchases,” Pullan added.
Pullan believes that due to the pandemic, people are now afraid to get out of their homes and this has boosted the sales of large-capacity refrigerators for Samsung.
Raja Pullan said, “Samsung’s overall consumer electronics sales grew an annual 20 percent in August and September after India’s economy began to open up.”