Seeking to cash in higher salaries and arrears paid to the government employees, consumer durable makers are accelerating their product promotion campaign during this festive season to boost sales.
"Availability of additional cash on the eve of festival season would lead to increase in sales in the sector as the festive season during October and November accounts for more than one third of the total consumer durable sales in India," Consumer Electronics Appliance Manufacturer Association (CEAMA) General Secretory Suresh Khanna told PTI.
"This has also compelled companies' to increase their promotional spending by around 15 per cent, Khanna said.
Echoing sentiments, Haier Appliances India COO and whole time director Pranay Dhabhai said, "Most of electronic appliances have now become aspirational products and any increase in supply of money would give boost to the sales, specially during the festive season."
Haier has also announced a slew of offerings to increase its sales during the festive season such as assured gifts of Rs 6,000 through scratch cards.
"We have increased our promotional spendings by 15-20 per cent during this festive season compared to the last year," Dhabhai said.
While other players in the segment are not offering such schemes but they are banking on ad-campaigns and the launch of new products to boost their sales.