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Gold, LED TVs, Mobiles & 2-Wheelers Witness Record Sale This Diwali; Consumerism At All Time High

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Diwali – 2014 is witnessing unprecedented sales of various consumer good products all over the country. And the good news is that both ecommerce and brick-and-mortar stores are witnessing excellent sales volume.

The hottest products in demand this year are: Gold; Smartphones, LED TVs and Two Wheelers.

Gold, Mobiles LED TVs 2wheelers

An overview of the biggest selling consumer products this Diwali:

Managing Director of Fab India, William Bissell said that their retail chain witnessed 31% more sales this year Diwali, compared to last year. Ethnic garments and furnishing, both are in huge demand.

Vineet Jain, Vice President for Big Bazaar said that the last weekend was statistically the best ever in terms of Diwali sales in NCR region. People lapped up exciting offers from FMCGs and the rush was phenomenal, even with their own standards.

Ajit Joshi, CEO of Infiniti Retail (TATA Group) said that despite sensational offers from ecommerce portals, their stores witnessed huge volume of sales of electronics products such as LEDs and Smartphones. He contributed to this huge sale to companies such as LG, Sony and Samsung who have come out against the practice of offering products at lower than MRP cost.

– Besides smartphones, large applications such as frost-free refrigerators and entertainment products like televisions and home theatres also witnessed excellent sales in Infiniti Retail.

Sunil Nayyar, head of sales for Sony India, said that demand for flat-screen large televisions of 42-56 inches contributed 50-55% of overall sales of Sony India; and most of them were bought from offline retail. 40-50% more sales were witnessed by Sony India this year, compared to last year. He shared that on a normal day, around 400-500 LEDs are sold in a day in Delhi-NCR region, but on Dhanteras occasion, the number zoomed ahead to 3000-3500 units. He is expecting this record sale trend to continue till New Year.

Sanjeev Agarwal, VP (sales) at LG Electronics India said that their company witnessed unprecedented sales of washing machines, LEDs and refrigerators, especially in the markets of Delhi, Rajasthan and Bihar. He expressed his happiness in the fact that several of their dealers in remote towns in these states have already declared that their entire stock of the year has finished as of now. In Lucknow, their dealers hired more than 300 vehicles to deliver electronics products all over the city.

Manish Sharma, MD of Panasonic’s India and South Asia operations has expressed his excitement over the tremendous buzz around electronics goods in general. He has stated that a stable government and clear economic policies is the result of this euphoric ambiance.

Shital Mehta, CEO at Pantaloons Fashion said that sales increased 10% this Diwali, compared to last year. And on weekend, the sale increased more than 30%.

– Gold has made a grand comeback this year, as in 2013, Government had increased import duty by 15% to stop import of Gold as it was causing trouble for the foreign reserves. But as no such increase was announced this year, buyers are back in the market.

Rahul Gupta, CEO of popular PP Jewellers in New Delhi said that they are expecting 20% more sale of Gold ornaments this year, compared to last year. Gold was trading at Rs 27,000 for 10 grams in Delhi during Dhanteras yesterday.

N. Anantha Padmanabhan of NAC Jewellers in Chennai said that they are expecting 10% more footfall and sale this year as market sentiments are at all time high.

Hero MotoCorp, which is India’s largest two-wheeler maker said that they witnessed record sale of 1.5 lakh units on Dhanteras (yesterday), as compared to 15-20k units on an average day.

Rakesh Srivastava, senior VP at Hyundai India said that they have witnessed 8100 units of sale on Dhanteras, whereas on a normal day, around 1000 units are sold. Overall, this Diwali, they saw a record rise of 19% in sales of their cars.

– Maruti refused to share the exact numbers, but have confirmed that sales were pretty strong this year, compared to last year’s Diwali.

[Sources: 1, 2, 3, 4, 5]

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