Even after implementing a 5 to 8 percent price increase on air conditioners and other household devices, consumer appliance manufacturers in India are forecasting double-digit sales expansion for the festive season.
Marking the third round of price adjustments this year, the increases rolled out just ahead of the peak shopping window. Company leaders spoke to PTI on October 4, noting that replacement purchases, premium product choices, accessible financing options, and an upbeat consumer sentiment will help maintain steady demand.
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What the Executives Said
Shopping activity kicked off strongly in southern India during Onam, and manufacturers are banking on that energy to persist through Navratri and Diwali. Similarly, LG Electronics India reports promising customer inquiries leading into Navratri.
When asked if the sector could still achieve double-digit growth, Haier Appliances India CEO N S Satish answered affirmatively, estimating overall industry growth between 10 and 15 percent. He anticipates an even stronger performance for Haier, targeting a 30 to 35 percent jump.
According to Satish, committed shoppers typically adapt to price changes in one of two ways: they either opt for a slightly smaller model that fits their budget, or they leverage EMI options to upgrade to a higher-end appliance. Another industry leader pointed out that Onam sales remained robust despite inflationary pressures and expects similar patterns nationwide.
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The Bigger Picture
Rising expenses related to metals, crude-derived materials, shipping, and currency fluctuations drove brands to lift their prices. However, the immediate impact on consumers may be limited. Because dealers built up inventories at prior price points via pre-buying programs in August and September, the majority of Diwali purchases will draw from legacy-priced stock, with the new pricing fully taking hold only after the holiday period.
The festive stretch is vital for the sector, typically generating 30 to 40 percent of annual sales between Onam and Diwali. At the same time, producers anticipate that elevated prices could introduce some constraint on total unit volumes.
Overall sales values are expected to get a boost from rising interest in smart, connected, and energy-efficient items. Additionally, audio equipment—including headphones, soundbars, and party speakers—is projected to experience robust growth.
