From The Economic Times · Writankar Mukherjee and Sharmistha Mukherjee · · 1m
Navratri shoppers splurge on clothes, appliances
Navratri shoppers boost home appliance sales by 20% as gadgets face price hikes.
In brief
Navratri shoppers boost home appliance sales by 20% as gadgets face price hikes. Navratri shoppers increased home appliance sales by 20% year-on-year while smartphone sales declined 16% due to memory chip price hikes. Originally reported by The Economic Times.
Navratri retail sales surge
Sales of apparel, footwear, refrigerators, air conditioners and washing machines increased more than 20% year-on-year during Navratri-Dussehra.
“AP Sales of apparel, footwear, and electronics increased over 20% during the recent Navratri-Dussehra festive period”
Car sales modestly rise
Car retail sales increased 2% despite a high base from last year's post-GST rate-cut buying rush, with 1.03 million vehicles sold this year.
“Around 1.03 million vehicles were sold during Navratri this year, between October 11-19, compared to last year's 1.01 million units”
Appliances boom
Home appliance sales grew 20% year-on-year with AC sales surging 50% and volume growth expected at 10-15%.
“AC sales have surged three-four times in the south, while in the west they have increased over eight times due to higher than normal temperatures”
Scooters and electronics surge
Scooter sales stood out with average billing up 6-7% and same-store sales accelerating more than 10%.
“Iyer said average billing had increased 6-7%, while same-store sales accelerated more than 10%”
Gadgets face price hikes
Smartphones, laptops and televisions saw volume declines as memory chip prices rose 15-40% year-on-year.
“Average prices of memory products have risen 15-40% over last year's Diwali levels”
Diwali sales expected
Navratri retail activity is expected to lay foundation for robust Diwali sales with improved affordability and EMI schemes.
“Navratri buoyancy had laid the foundation for a robust Diwali”
The big picture
Navratri shoppers increased home appliance sales by 20% year-on-year while smartphone sales declined 16% due to memory chip price hikes.
