Godrej Appliances Expects 30-40% Growth in Premium Segment During This Festive Season, Riding on Special Offers and Expanding Product Lineup
Bhubaneswar: Mr. Kamal Nandi, Business Head and Executive Vice President of Godrej Appliances, part of Godrej & Boyce said, “First quarter of this year was dampened in some geographies due to unseasonal rains and weather uncertainties which may lead to some pent-up demand in the festive season. The uneven & deficit monsoons may impact some geographies more than others and the consequent impact on inflation may impact mass in rural areas. In general, upmarket territories and mass segment remains sluggish but the premium segment continues to demonstrate a good run. The premium segment this year has been witnessing over 30% growth and for the festive season bets are on premium pickup aided by special festive offers and finance schemes easing affordability.
Onam went well and the sale saw close to 35% growth by the end of the sale period. Premium segments like AC and frost-free refrigerators continue to do well. Another category that continues to show a significant spike is deep freezers. We are hoping for the momentum to continue with Durga Puja, Navratri, Dussehra in October, all the way till Diwali in November. With festivities spreading across multiple months and a line-up of new premium products across our refrigerators, washing machines and ACs, we are targeting a 30% to 40% growth this festive season over last year. The scenario will be clearer as we approach closer to festive.
The spending plans for festive season this year is similar to previous year and will be dynamic and follow our premium product placement strategy. Onam saw a thrust in Kerela – again with a digital and store strategy and yielded good results. This will be followed by a larger e-commerce thrust for online events pan-India. Ganesh Utsav, Navratri, and Durga Puja in West and East will see localized plans followed by a Diwali burst.”