Smartphone sales decline amid festive season; consumer electronics, apparel show growth
festive season sales compared to last year. Tepid demand for entry-level handsets weighed on the overall industry.
Television and household appliance sales grew by 2-3% by volume sales during the period, led by premium products, as per estimates from leading brands and market researchers. Apparel brands and retailers saw a 6-8% increase in same store value sales, bringing cheer to the industry.
While e-commerce platforms saw muted demand in the first few days of their biggest annual sales, which began on September 26, it started to recover from Navratri onwards with consumers getting their monthly pay checks, Diwali bonuses and the end of the Shraadh period, which is considered inauspicious for new purchases.
As per market tracker Counterpoint Research, smartphone sales volume fell by 3% in the first 12 days of the festive sales this year. By value, sales grew 8% due to a 7% volume growth in premium handsets priced above Rs 30,000.
“Sales were modest and not as bullish as the industry had expected. First few days were really slow. Consumers are holding on to their devices in the entry to mid-segment as smartphone life has become better and there are not many 5G model options in the sub-Rs 10,000 segment,” said Tarun Pathak, research director at Counterpoint.
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