Premium products drive growth in consumer electronics despite sluggish volume sales: NielsenIQ
premium products, said market researcher NielsenIQ.
“This growth is fuelled by the shift toward connected, feature-rich appliances and smartphones, with a clear preference for products that offer both convenience and long-term value," said Anant Jain, head of customer success in tech and durables at NielsenIQ. He said the festive period also contributed to the growth, with more consumers timing their purchases to benefit from promotions and special offers.
There was a recovery in sales volume in October due to festive demand. As per NielsenIQ, the four weeks of the festive period till Diwali drove 13% value sales growth and 8% volume growth.
Consumer electronics sales grew 6% by value in the September quarter.
Sales of mobile phones—the largest contributing category—grew 7% year-on-year by value though falling by volume, signalling growing consumer preference for premium and 5G phones.
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