Durable Cos expect Rs 15k crore sales this festive season

NEW DELHI: Riding on a strong buying sentiment this festival season, consumer durables companies are looking to garner sales of up to Rs 15,000 crore during the ongoing period.

According to industry estimates, festive season which extends from September to November accounts for around one-third of the total sales of Rs 35,000-crore domestic consumer durables market.

Companies have increased their marketing and promotional activities, offering gifts and freebies to gain from the period, besides launching new products.

"On an average, consumer durable companies make around 32-35 per cent yearly sales from the festive season. So the overall industry will be making about Rs 12,000-15,000 crore during this period," Consumer Electronics and Appliances Manufacturers' Association General Secretary Suresh Khanna said.

He said most companies are aggressively marketing their products along with new launches, with hopes that the government incentives announced earlier this year will also help increase the consumer spending.

Leading companies like LG, Samsung and Haier are expecting a growth of around 30-40 per cent during the season, while domestic white goods player Videocon is aiming to achieve as high a growth as 60 per cent compared to the last season.