Consumer electronics market sees value growth despite flat volume sales in 2024

NEW DELHI: Sales of electronics products such as smartphones, televisions and refrigerators through retail stores remained sluggish in terms of volume growth in the first nine months of 2024 though increasing 10% by value propelled mostly by higher sales of 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.

However, small domestic appliances grew 12% by value and 9% by volume last quarter. Large retailers witnessed strong demand, contributing 37% to India’s overall technology and durables market.

Smaller cities too drove growth, backed by rising incomes and increasing internet penetration. Tier 3 cities grew 9% y-o-y by value followed by tier 1 with 6% value growth and tier 2 with 5%. Media tablet sales grew by 90% in tier 4 cities in the quarter.