Eyeing to woo maximum number of customers this festive, electronic appliances companies will be soon offering a number of freebies and discounts. PTI reports that manufacturers, including Sony, LG, Panasonic and Haier, are pinning hopes on pent-up demand post GST. These companies have also increased their expenditure on the advertisement budget, the report says. Sony alone has decided to earmark Rs 250 crore, while Panasonic looking to spend 1.4 times more this season on branding and marketing exercise. Haier has reportedly increased its ad budget by 70 per cent. “In the festive season this year, we plan 25 per cent sales growth from August to November, 2017, over the corresponding period last year,” Sony India MD Kenichiro Hibi was quoted as saying by PTI.
Hibi added that there is a huge demand in the market and the same is expected to rise ahead of the festive season. Consumer Electronics and Appliances Manufacturers Association (CEAMA), an industry body, said that most of the factors point to favourable sales in the festive season.
Speaking about the festive season sales, LG Electronics India CMO Amit Gujral said: “We are expecting an upsurge in demand in various categories and have adequately geared up for the same.” Haier, which is eyeing increase of up to 50 per cent rise in sales this year, has pinned hopes on online retail channels. “Overall, e-commerce contributes to 10 per cent of our sales and we’re expecting the festive season to make this contribution more robust,” said Haier India President Eric Braganza.
Panasonic is also looking at 30-40 per cent growth and plans to invest 1.4 times more this season on branding and marketing to draw buyers. “This will be in the form of TVC commercials, print ad, in-shop brandings, digital marketing efforts and hoardings, besides other local level below-the-line activities. The spend this time is about 1.4 times that of last year,” said Manish Sharma , President and CEO of Panasonic India.