Consumer electronics major Samsung witnessed 50 per cent growth in sales of premium products and an overall growth of 32 per cent in October, according to a senior company official.
The firm is also witnessing a growth in the demand of premium products from the small towns during the ongoing festive season, said Samsung India Senior Vice-President (Consumer Electronics Business) Raju Pullan.
So far, Samsung has recorded an overall growth of 36 per cent, and 68 per cent growth in premium products in the smaller tier-II, -III and -IV markets. "This is the best October ever," said Pullan. However, Samsung India has not shared sales numbers for October.
The company is targeting an overall growth of around 30 per cent this festive season, which starts from Onam in the south and Dussehra in north and other parts and goes up to Diwali.
"For this festive season, we are looking for an overall growth of 30 per cent. In the first phase, we have delivered a growth of 32 per cent," he said adding that it has got early indictors from Onam and Durga Puja this year.
Samsung witnessed a growth of over 80 per cent in the above-65-inch TV segment and 75 per cent in the premium side-by-side refrigerators in October.
Besides, Samsung is witnessing growth in appliances such as refrigerator, washing machine and other products, as the customers are looking to upgrade their existing products.
"In the refrigerators, overall growth is 31 per cent and 40 per cent in frost-free 350 litres and above," he said.
Sales in front-loading washing machine above 7.5 kg in October were beyond the company's expectation and ran out of stock and have to refill it.
Though the company has not provided the split between the contribution from online and offline channels, it said both have recorded growth.
During this festive season, consumers from the smaller towns are also buying high-end products. "Consumer from small towns are also buying higher-end products. The premium growth is good in the smaller towns as well," he said.
In the market, Samsung registered a 72 per cent growth in the Ultra HD TV segment and 105 per cent in QLED TV of 65 inch and above, said Pullan.
Moreover, in the side-by-side refrigerator, Samsung witnessed 100 per cent growth, while 70 per cent growth in frost-free 350 ltr and above. It also witnessed a 52 per cent jump in front-load washing machine from the small towns.
Now, the consumers in smaller towns are well researched in the digital environment, said Pullan adding that the company is helping its dealers to advise them.
"Samsung has set up a helpline for small-town retailers where they can get advice on how to sell premium products better, and also details about consumer finance, so that they are able to make the sale," he said.
Now, the retailers are also stocking premium products seeing chase in the consumer purchasing pattern.
