After a lengthy dry signify of purse-pinching and dampened spirits, the Indian consumer is for all time in the mood to unfasten his purse-strings yet again. And gearing up for this impel to spluge are consumer durables players who are leaving no stone unturned to baby them for choice. Betting big on the festive enterprise that began on a bouncy note with and will go on through Durga Puja, Dussehra and Diwali and end around New Year, consumer durables players correct from LG to Samsung, Sony, Haier and even homegrown majors identical to Onida have lined up big-ticket budgets with an sidelong glance to womanizer in the moolah. Apart from the career freebies that companies typically upset in with purchases this span of the year, most players are vexing to assert up consumer charge by unveiling new products packaged with taking add-ons counterpart free extended warranties, 0% banking schemes and even free tickets to strange locales.
Korean chaebol LG unescorted has set aside a immense Rs 65 crore festive condition promotional budget with an discrimination on riding the festive fever and raking in an eye-popping Rs 3600 crore in the bargain. "Because of changing lifestyle and strong solvent growth, this year will be very promising. We envision a enlargement of around 45% this festive age over closing years festive season sales," a bullish Amitabh Tiwari, resident sales head, LG Electronics told TOI.
Ditto for Chinese biggie Haier, which is banking bigtime on the festive mellow to not only awaken its fortunes in the Indian make available but also remedy it hierarchy the Rs 1,000 crore business guide this year. The company, that tunnel the brunt of the slow-down rearmost year, has not just recouped lost range in the first five months of 2010 by clocking revenues of over Rs 350 crore, it is hoping to voluptuary in more than this in just the next three months. Haier's revenues for 2009 stood at just Rs 350 crore.
"We wait for a mammoth 150% rise this festive season, which may make good to be the catalyst that could catapult our estimated Rs 700 crore yield objective to over Rs 1000 crore by the epoch the year is up," says Shanta Roy, noggin of marketing at Haier India. Conservative too is pulling out the stops. It has lined up a budget of Rs 45 crore for just pitching its example wander of 3D offerings and is hoping to moolah in on an dicey advance in the like mad expanding LED/LCD deal in this Diwali.
"Consumer emotion is animated during the festive occasion and we plan to cash it through martial sales," says Tadato Kimura, all-inclusive manager (marketing), Sony India, who expects 30% of the company's revenues to come from its 3D organize by 2012. Ruchika Batra, worldwide straw boss (corporate communications), Samsung India too is looking send on to a tremendous burst in sales this festive season. "We contemplate a growth of atleast 40% in sales over stand up year's festive season. The LED/LCD TV part looks the most promising," she said. Samsung, which has already rolled out offers in West Bengal for and the West for Ganesh Chaturthi, is now gearing up to bare value added offers for Dusshera through Diwali.
Not to be sinistral behind in the race, erstwhile customer base leaders such as Onida, which is also celebrating its 30th year anniversary, are also raising the stakes. In a proffer to mazuma in on the growing dead panel goggle-box sets, the business has not just rolled a late rove of LED televisions this period it has allotted a whopping Rs 150 crore budget this year, of which a chunk will be utilized to dismiss up festive opportunity demand. While the company has woven a competition around the number 30, during the festive time it offers among other things all expenses paid slip of the tongue to HongKong for 30 customers and families.
"Despite the occurrence that these days consumers suborn consumer durables around the year, we still anticipate a 35-45% thwart in sales thanks to the red-letter day sentiment and the fact that the thrift is back firmly on the growth track," said K Sriram, vice-president (sales and marketing), Mirc Electronics.
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