PL Sector Report: Consumer Durables - Electronics (White Goods) Channel Check update (Nov-2023)

Consumer Durables - Praveen Sahay - Research Analyst, Prabhudas Lilladher Pvt Ltd.

Electronics (White Goods) Channel Check update (Nov-2023)

We connected with 18 Electronics dealers across India and visited 10 electronics retailers (MBO & EBO) to assess market demand and pricing. Our findings indicated strong double-digit YoY growth in the demand for Refrigerators, Washing Machines, and TVs during the recent festival season (last 15-20 days of Deepawali). However, the demand for Air Conditioners was moderate in comparison due to weak season.

No Price Hike taken

Due to fierce competition, brands have not yet taken any price hike. Nevertheless, at the retail level, offers and discounts are prevalent as a strategy to secure a larger share of the market.

Good Demand in Deepawali season

Volumes Picked up in Refrigerator and TV segment and no major change was seen in Financing terms post changes in policy by RBI.

Inventory at normal level

Our channel checks suggest that inventory is at normal level and RAC inventory will be built post 15th Dec.

Other highlights

The most selling product in RAC segment is 1.5 ton 3-star AC’s of Voltas and Daikin. In the high end range, O-General AC’s are preferred. Most selling TVs were 55 inches.