- Sales of leading white good brands grew by up to 40 per cent in the March quarter over the same period in 2019
- The inception of new 5G smartphones in the market have driven the sales for handsets
Purchases of home appliances and smartphones has grown by leaps and bounds, with many brands witnessing high double-digit growth in sales in the January to March quarter, says a recent report. Nevertheless, the recent spike in COVID cases can pose a potential threat during the June quarter for these companies.
Sales of leading white good brands like LG, Bosch, Siemens, Voltas, Panasonic, Lloyd and Godrej grew by up to 40 per cent in the March quarter over the same period in 2019. With the nationwide lockdown being imposed in March 2020, growth in sales has been even higher for these brands.
5G smartphones witness rise in sales
Market researcher Counterpoint estimated that, for smartphones, the January to March shipments in India will reach a peak for this period at around 34-36 million, increasing by 13-16% over 2019 same quarter.
The inception of new 5G smartphones in the market has driven the sales for handsets, whereas with customers spending most of their time at home now, the demand for home appliances have also seen an exponential rise. So much so, that the price hike that companies imposed during that quarter had no significant effect on demand.
Growth in home appliances sales
LG India Vice President Vijay Babu disclosed their sales during the first quarter, “In January and February, we have grown by 41% and 28% over the same period last year. In March, we grew by 98% over 2020 and 35% over 2019. The pent-up demand continued, including for premium products.”
GfK India tracked sales in January for washing machines which grew by 26 per cent, refrigerators by 22 per cent and ACs by 58 per cent.
“However, there is cautious optimism given the interplay of variables of supply, pricing and changing Covid-19 situation in the country,” said Nikil Mathur, MD of GfK India.
