BWI: CEAMA Witnesses 30% Growth in Consumer Durable Industry

Press release from Business Wire India
Source: CEAMA
Friday, June 11, 2010 06:09 PM IST (12:39 PM GMT)
Editors: General: Consumer interest, Economy; Business: Advertising, PR & marketing, Electronic appliances & components
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CEAMA Witnesses 30% Growth in Consumer Durable Industry
Refrigerators and AC Registered a Double Digit Growth

Bangalore, Karnataka, India, Friday, June 11, 2010 -- (Business Wire India) -- Consumer Electronics and Appliances Manufacturers Association, CEAMA today deliberated about the current trends in the consumer durable industry. Dr. Y.V. Verma, President, CEAMA, Mr. Rajiv Bajaj, Hony. Secretary, CEAMA Mr. Ravinder Zutshi, Immediate Past President, and Mr K.S. Raman, Past President CEAMA along with other dignitaries were present at the occasion to highlight the recent developments and observations related to the industry.

The Indian consumer durables industry has witnessed a considerable change over the last few years. Changing lifestyle, higher disposable income coupled with greater affordability, boom in the real estate and housing industry and a surge in advertising has been instrumental in bringing about a sea change in the consumer behavior pattern.

The Indian consumer durable industry is witnessing a huge growth of 30% owing to increase in summer sales which further lead to highest growth of 50% in sales of Refrigerators and Air Conditioners. The last quarter also saw phenomenal sales especially in the display category which includes Conventional Flat Panel Displays (PDPs, LCDs and Flat screen TVs). The industry also witnessed a 40% healthy growth in Home Appliances Business.

Speaking at the occasion, Dr. Y.V Verma, President, CEAMA said, "The consumers nowadays prefer to use devices and products in-built with smart technology and design innovations which are more advanced that makes their life easy and consume less time. The consumers not only focus on the functional benefits of the products but also on the aesthetics added with the product."

CEAMA expects increase in sale of consumer electronics during festival season. The Southern India will witness a considerable increase in sale from July onwards owing to Onam, one of the main festivals in Kerala. Also, the industry foresees the upcoming FIFA world cup as a huge opportunity to contribute to significant rise in TV sales. With the onset of monsoon season it is predicted that demand for washing machines will also increase.

The industry has also witnessed some interesting upcoming trends. Due to early advent of summer, March and April saw an unprecedented sale of AC. Earlier most of the households use to buy a single AC, now on an average there are two to three Air conditioners per home. Consumers are more aware about energy efficient appliances as they are proactively asking for star rated refrigerators and air conditioners. The demand for LCD televisions is also huge as consumers are replacing CTV for a LCD, LED. Rural market and small town have shown promising demand for durables. There are pockets of prosperity in rural India that are drivers of rural growth.

About CEAMA

Consumer Electronics and Appliances Manufacturers Association (z) (formerly CETMA) is an all India body of organizations in Consumer Electronics and Durables sector, Rs.30,000 crores industry. It is registered as a non-profit organization, looking after the common interest of the members, for sustainable growth in the sector. It has been in existence for last 30 years. Presently, there are more than100 members.

CEAMA is one of the few industry bodies which provide a single platform to the manufacturers and the trade to help develop healthy relations. It has organised many seminars in various states across the country and first time a grand seminar is organised in Bangalore to provide an industry platform to the trade partners. CEAMA also invites the consumer bodies to gather their viewpoint which helps in the growth of the industry.

Members are manufacturers of Consumer Electronic products & Home Appliances products. The membership spectrum comprises of Domestic and MNCs, and includes large, medium & small-scale sectors. It is truly a representative organization for collective industrial promotional Members are manufacturers of Consumer Electronic products & Home Appliances products. The membership spectrum comprises of Domestic and MNCs, and includes large, medium & small-scale sectors. It is truly a representative organization for collective industrial promotional activities.


CONTACT DETAILS
Mr Amitabh, Secretary General, CEAMA, +91 9810139826

KEYWORDS
CONSUMER, ECONOMY, MARKETING, ELECTRONICS

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