Festive Season Boost: Appliance Makers Expect Double-Digit Growth Despite Price Hike

Appliance manufacturers in India are optimistic about achieving double-digit growth during the upcoming festive season, despite a 5-8% price hike for air-conditioners and other consumer appliances.

The latest price increase is the third round of revisions this year, driven by higher costs of copper, aluminum, steel, and crude derivatives, as well as rising freight expenses and currency fluctuations.

Haier Appliances India CEO N S Satish expects 30-35% growth in festive sales by value, while unit sales are likely to grow around 20%, citing premiumisation and easy availability of finance as key drivers.

LG Electronics India Co-Chief Sales & Marketing Officer Sanjay Chitkara is 'very optimistic' about the upcoming season, pointing to encouraging pre-festive inquiries during the Shradh period and a growing trend of consumers upgrading their appliances for new home purchases or upgrades.