Samsung, India’s largest and most trusted consumer electronics brand, has seen consumers in small towns in India preferring to buy premium television, refrigerators, washing machines and microwave ovens this festive season. In the first half of the festive season, in the month of October, Samsung has seen 68% growth in premium sales while overall sales have grown by 36%.
In comparison, the growth of its consumer electronics business across India was 32% in October. As consumers are upgrading to large screen Samsung Smart TVs and high capacity Samsung washing machines and refrigerators to equip their homes with latest technology, this trend has pushed growth in the premium segment of the market to over 50%.
Owing to this trend, Samsung witnessed an encouraging growth of 32% for its overall TV category, with 65-inch and above category growing by 80%. Owing to various factors such as rise in content consumption on OTT platforms, online learning for children and Work from Home, consumers are not only looking for superior technology but also improved aesthetics for their TVs to meet their evolving lifestyle needs. Catering to the changing consumer needs, Samsung witnessed an encouraging growth of 50% for its premium TV category.
In the UHD TV category, Samsung logged 72% growth in tier 2 and 3 cities while QLED TV 65-inch and above saw a massive 105% growth in smaller cities.
As consumers continue to venture out less and stock more food at home, there has been a spike in demand for large capacity Samsung refrigerators. In the premium Side-by-Side refrigerator category, Samsung witnessed an overall growth of 75% and the frost free 350L and above segment grew by 40%. In the small-town India, Frost Free 350L and above refrigerators segment saw a 70% growth while the side by side refrigerators saw a huge 100% jump.
In recent times, there has been an increase in demand for high capacity, fully automatic washing machines such as Samsung Hygiene Steam to make house chores easier. This trend has been observed not only in big cities but in tier-II and tier-III cities as well. Owing to which, Samsung’s high capacity Fully Automatic Front Load and Fully Automatic Top Load washing machines saw an overall growth of 50%.
Building on success of the current festive sales and addressing the evolving consumer lifestyle needs, Samsung aims to achieve an overall growth of 30% for its consumer durable category, this festive season.
“This has been the best October ever for us, as consumers across the spectrum looked to upgrade their lives especially in the tier 2 and tier 3 cities. The demand is shifting towards premium electronics products. We have tried to make all our retail touch points as safe as possible for our consumers,” said, Raju Pullan, Senior Vice President, Consumer Electronics Business, Samsung India.
Earlier this month, Samsung launched a slew of festive offers on Samsung televisions and digital appliances. Consumers can get assured gifts with select Samsung QLED 8K & QLED TVs and SpaceMax Family Hub™ Refrigerators such as Galaxy Fold, Galaxy S20 Ultra, GalaxyNote 10 Lite, Galaxy A31 and Galaxy A21s mobile phones. Exciting product offers, coupled with attractive finance schemes including cashback of up to INR 20,000 and easy EMIs of as low as INR 990, will be valid till November 20, 2020.
