Televisions, microwaves, and vacuum cleaners witness high demand in ongoing festival season

18 Oct 2022 , 09:18 AM

According to a recent analysis by market research and intelligence firm GfK, demand for consumer electronics will be led by televisions, microwaves, vacuum cleaners, and washing machines this holiday season with customers favouring premium products.

The pandemic effect, according to the report, looks to be diminishing as consumer demand for high-end devices and household appliances has increased in 2022.

TVs (28%), microwaves (28%), vacuum cleaners (25%), and washing machines (25%), according to GfK, were the top four consumer durables that contributed the greatest volume to growth over the holiday season of 2021 relative to their annual sales. The tendency is probably going to continue this year as well, it stated.

Because of the impending celebrations in October, according to GfK, the second half of the year also appears good for consumer durables. Every significant manufacturer, retailer, and e-commerce site is advertising their holiday specials.

Sales volume increased 16% year over year in October 2021. The holiday season affects sales of all major home appliance products, notably during the Diwali months of October and November, which account for around 17—20% of all sales annually.

At around 21-23%, this number is most prevalent in the minor home appliance categories. According to GfK, the upcoming holiday season could see solid growth and recovery of the early months lost due to the third wave in January and February.

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