High demand for small to medium-sized consumer goods

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The entry-level to ultra-affordable consumer goods segment is seeing increased demand, with caution seen in the entry-level segment, given the ongoing festive season. The white goods industry is expected to witness price growth on the back of affluent consumers moving towards luxury goods, but volume growth could be seen as first-time buyers grapple with the challenges of rising prices.

Satish NS, President, Haier Appliances, said: “There is strong sales of high-end and mid-range products, but there are some signs of stress being seen in the entry-level price segment, especially in the rural markets. Overall, we are aiming for 35-40% price growth.

Market-oriented manufacturers said retailers are also stocking up on mid-range to premium electronics and showing caution in stocking upcoming products. Senior executives say all companies are expected to see growth at pre-crisis levels.

Commenting on the industry trends, Kamal Nandi, Executive Vice President and Vice President, Godrej Appliances, said: “The mass market segment remains depressed, but the middle and middle class segments are doing very well. The entire mass market segment can see significant growth. ‘slow down or even down. In the industry, although there will be higher prices than before the epidemic, we need to see how the growth rate is going. .

Self-loading and front-loading washing machines, high-capacity refrigerators and large-screen TVs are some of the sectors that are seeing a huge boost in demand this festive season.

Late last month, Vishal Bhola, MD, India’s Whirlpool, too, made a similar statement to the market. “Consumers in the middle and upper classes are buying more high-quality products and raising the price of products and looking for more. In entering, consumers are watching their spending and looking for great value,” he said on the sidelines of a press conference.