PL Sector Report: Consumer Durables - Electronics (White Goods) Channel Check update (Nov-2023)

PL Sector Report: Consumer Durables - Electronics (White Goods) Channel Check update (Nov-2023)
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Prabhudas Lilladher Pvt Ltd

Highlights

Consumer Durables - Praveen Sahay - Research Analyst, Prabhudas Lilladher Pvt Ltd.

Consumer Durables - Praveen Sahay - Research Analyst, Prabhudas Lilladher Pvt Ltd.

Electronics (White Goods) Channel Check update (Nov-2023)

We connected with 18 Electronics dealers across India and visited 10 electronics retailers (MBO & EBO) to assess market demand and pricing. Our findings indicated strong double-digit YoY growth in the demand for Refrigerators, Washing Machines, and TVs during the recent festival season (last 15-20 days of Deepawali). However, the demand for Air Conditioners was moderate in comparison due to weak season.

No Price Hike taken

Due to fierce competition, brands have not yet taken any price hike. Nevertheless, at the retail level, offers and discounts are prevalent as a strategy to secure a larger share of the market.

Good Demand in Deepawali season

Volumes Picked up in Refrigerator and TV segment and no major change was seen in Financing terms post changes in policy by RBI.

Inventory at normal level

Our channel checks suggest that inventory is at normal level and RAC inventory will be built post 15th Dec.

Other highlights

The most selling product in RAC segment is 1.5 ton 3-star AC’s of Voltas and Daikin. In the high end range, O-General AC’s are preferred. Most selling TVs were 55 inches.

Location Demand (Deepawali Sales) Price Inventory
North India
Dealer 1 Jabalpur, MP High sales due to extended Warranty No Price hike
Dealer 2 Raipur Less than last year No Price hike
Dealer 3 Chittorgarh, Rajasthan Better than last year Lesser than last year (High Discounts)
Dealer 4 Gurugram, Harayana Better than last year No Price hike
Dealer 5 Jaipur, RJ Average No Price hike
Dealer 6 Saharanpur, UP Lesser Demand than last year No Price hike
South India
Dealer 1 Mysore, Karnataka Low sales as no season for AC's No Price hike
Dealer 2 Chennai, TN Average No Price hike
West India
Dealer 1 Nagpur, MH Lowest Demand of the year No Price hike
Dealer 2 Junagadh Lesser Demand than last year No Price hike
Dealer 3 Mumbai, MH Average No Price hike
Dealer 4 Nagpur, MH Better than last year No Price hike
Dealer 5 Mumbai, MH Good Hike in Price
Dealer 6 Mumbai, MH Average No Price hike
Dealer 7 Vadodara, Gujarat Average No Price hike
Dealer 8 Surat Good No Price hike
Dealer 9 Rajkot Lesser Demand than last year No Price hike
Dealer 10 Yavatmal, MH Lesser Demand than last year No Price hike
Dealer 11 Mumbai, MH (Store Visit) Lesser Demand than last year Lesser than last year (High Discounts)
Dealer 12 Mumbai, MH (Store Visit) Lesser Demand than last year Lesser than last year (High Discounts)
Dealer 13 Mumbai, MH (Store Visit) High Demand of Refrigerators and TVs Lesser than last year (High Discounts)
Dealer 14 Mumbai, MH (Store Visit) High Demand of TVs Lesser than last year (High Discounts)
Dealer 15 Mumbai, MH (Store Visit) High Demand of Refrigerators and TVs Lesser than last year (High Discounts)
Dealer 16 Mumbai, MH (Store Visit) Lesser Demand than last year No Price hike
Dealer 17 Mumbai, MH (Store Visit) High Demand of Refrigerators and TVs No Price hike
Dealer 18 Mumbai, MH (Store Visit) High Demand of all Products Lesser than last year (High Discounts)
Dealer 19 Mumbai, MH (Store Visit) High Demand of all Products Lesser than last year (High Discounts)
Dealer 20 Mumbai, MH (Store Visit) High Demand of all Products No Price hike

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