Consumer Durable sector bets on festive season to make up for lost sales
The Hindu
After a difficult year dealing with the pandemic, consumers in India are gearing up to celebrate the festival season, encouraged by the increase in the pace of vaccination.
With markets now fully open and consumer sentiment looking positive, consumer durable firms are betting on the festive season to recover sales lost on account of the pandemic. While the industry is looking at 20% growth, hurdles such as potential third wave of the pandemic, shortage in supply as well as the possibility of another price hike may play spoilsport.
“Consumer sentiment seems positive, post the second wave,” Kamal Nandi, president, Consumer Electronics and Appliances Manufacturers Association (CEAMA) told The Hindu.
“There is pent-up demand as a result of the restrictions in the first quarter, which will boost sales during the season. Consumers are also focusing on upgrades,” he added.
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