With COVID-19 pandemic inducing way of life modifications resulting in a rise within the adoption of premium merchandise throughout classes, LG Electronics India is bullish in regards to the festive gross sales and hopes to register double-digit progress over final 12 months this festive season.
To money on the festive season, the corporate has launched a variety of superior differentiated expertise merchandise like Rollable OLED TVs, Aspect by Aspect Fridge ( Door in Door), Washer Dryers, Charcoal Microwave Ovens, Twin Inverter ACs, Gram Laptops and many others., forward of the festive season.
Together with the sturdy product lineup, LG has introduced promotional campaigns and shopper affords to assist shoppers improve to the most recent expertise and is witnessing good traction in each – offline in addition to on-line channels.
“Festive season contributes roughly 30% in general gross sales for LG Electronics India. We predict double-digit progress this festive season over final 12 months,” says Deepak Bansal- VP- Company Planning- LG Electronics India.
With the financial system opening up and staff anticipated to renew workplace LG believes that whereas make money working from home diverted shopper consideration to their properties with a sample of upgrading shopper durables, the corporate expects this development to proceed as nonetheless many individuals are choosing hybrid work tradition.
General, LG says Indian shoppers are early adopters of expertise and the corporate has witnessed the great acceptance of flagship expertise merchandise.
Whereas the contribution of huge display TV has elevated considerably, there was a very good demand for larger capability washing machines and fridges.
There’s an elevated consciousness for energy-efficient merchandise which has led to a surge in 4 & 5-star score AC and Fridge gross sales.
“Penetration of shopper durables in India remains to be very low, nevertheless, enhance in rural electrification over previous few years definitely pushed sturdy gross sales. Within the city market, we’ve seen progress within the alternative market as shoppers are upgrading to the most recent expertise and greater capability. If we disregard the covid affect, the trade has seen constant progress,” provides Bansal.
Finishing 24 years in India, LG electronics instructions a 29.4% share in fridges, 37.3% in washing machines, 25.0% in LCD TV, 28.7% in Inverter AC, and 38.5% in MWO within the Indian market, as per the GFK market shares for 2021 until date.
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