Smartphone sells are likely to grow 25-35% this Diwali when compared to last year, predicted All India Mobile Retailers Association (AIMRA) Founder Chairman Kailash Lakhyani. He added that premiumization and affordability are the main driving components of this growth in the retail space.
Earlier, smartphone sells declined 3% year-on-year (YoY) during the first phase of the festive season in India between September 26 and October 7, noted Counterpoint Research.
It later picked up after Dussehra as both online and offline retailers came up with aggressive offers and deals.
“Mobile retailers are offering cashback, discounts, and lucky draws on brands like Vivo, Oppo, Xiaomi and Realme. In Samsung, there is a direct discount and freebies from the retailer’s side,” said Kailash.
To have a larger impact, retailers are connecting with consumers through social media, he added.
According to Kailash, consumers are demanding more 5G phones from brands like Vivo, Oppo, and Xiaomi.
He said that offline buyers are preferring Samsung, Vivo, Oppo, and Xiaomi in the ₹30K-plus price bracket. In the premium segment (above ₹50,000), buyers are choosing between Samsung and Apple.
Nilesh Gupta. Director, Vijay Sales, said, “Smartphones are doing good with a higher growth coming from premium models. We are expecting a growth of 10 to 12% in value, YoY.”
In the online space, things are equally bright.
Ranjit Babu, Director, Consumer Electronics, Amazon India, told The Hindu, “This Diwali season, we are witnessing a remarkable surge in customer demand across our Consumer Electronics and Appliances categories, particularly in the premium segment.”
Within the smartphone category, the premium segment was the highest performer, experiencing 30% YoY growth. The tablet category also registered exceptional performance, with 60% of sales coming from the premium segment.
Customers also sought to bring the theatre experience home, driving robust demand for large-screen TVs, which account for more than 50% of orders in the television category. Demand for speakers also surged 6x.
In the computing market, the gaming laptop category was a standout performer, with sales increasing by an impressive 19x compared to the pre-festive period. Premium gaming laptops witnessed a remarkable 35x growth.
Similarly, the large appliances category projected robust growth, as many customers opted for premium upgrades and value-for-money deals. Demand for washing machines, refrigerators, and air conditioners surged, with a 1.7x increase in orders from customers using exchange offers and a 1.6x rise from those opting for no-cost EMI.
Published – October 29, 2024 08:15 am IST
