Giant home electronics SAMSUNG are optimistic about the upcoming festive season across the country. The company is particularly optimistic about demand for its premium consumer electronics products. Mohandeep Singh, Senior Vice President, Consumer Electronics Business, Samsung India in conversation with The Times of India-GadgetsNow, said the company is expecting 80% growth in the premium segment across product catalogs.
Singh is optimistic about record-high sales fueled by the positive consumer sentiment the company saw during the recent Onam festival and also during the Independence Day sale. At Onam, Singh said that Samsung grew 45% year-on-year in Kerala and the company expects the momentum to continue throughout the remainder of the festival across the country.
Speaking of buying trends, Singh said that consumer preferences have evolved during the pandemic, and the upgrade trend is here. Big screen TVs, high-end audio equipment, full-sized washing machines (9 kg or more) and refrigerators have become the norm as consumers see the benefit of spending a little more for comfort and work experience. advanced technology.
“We’ve seen 2x growth in premium TVs and 350 liter or more refrigerators, and demand for our soundbar has tripled, Onam and believe the premium growth momentum This will continue for the rest of the holiday season. “Demand for our flagship Neo QLED TV has quadrupled since last year,” says Singh.
In the large washing machine segment of 9 kg or more, Samsung is expecting a 5-fold growth during the festive months.
Singh points out that doing laundry has become a popular topic at home over the past two years as families are sharing more responsibilities and doing household chores together.
“Consumers are investing more time in choosing the right products that truly fit their way of life. At Samsung, we are constantly expanding our selection of washing machines and introducing a range of new features to complement their lifestyles,” he said.
In the refrigerator segment, Singh said Samsung is expected to lead the market with a 35% market share by the end of this festive season. This growth will be driven by growing consumer demand and the company also plans to roll out attractive offers and deals across the entire product line.
An interesting trend this holiday season is the return of consumers to physical retail stores.
“Consumers want to experience the product. They want to touch and feel consumer electronics before they buy, which is why we are enhancing the in-store experience for consumers by increasing the visibility of premium products. This year, we are increasing our retail investments by 2x,” he said.
Samsung has started a new Store+ initiative at more than 300 stores, where consumers can order consumer electronics products online from the store, ensuring an endless aisle.
Over the past few months, Samsung has launched a series of products across segments, especially high-end products including QLED Neo TVs, The Freestyle projector, soundbar and new AI Ecobubble washing machine.
Singh is optimistic about record-high sales fueled by the positive consumer sentiment the company saw during the recent Onam festival and also during the Independence Day sale. At Onam, Singh said that Samsung grew 45% year-on-year in Kerala and the company expects the momentum to continue throughout the remainder of the festival across the country.
Speaking of buying trends, Singh said that consumer preferences have evolved during the pandemic, and the upgrade trend is here. Big screen TVs, high-end audio equipment, full-sized washing machines (9 kg or more) and refrigerators have become the norm as consumers see the benefit of spending a little more for comfort and work experience. advanced technology.
“We’ve seen 2x growth in premium TVs and 350 liter or more refrigerators, and demand for our soundbar has tripled, Onam and believe the premium growth momentum This will continue for the rest of the holiday season. “Demand for our flagship Neo QLED TV has quadrupled since last year,” says Singh.
In the large washing machine segment of 9 kg or more, Samsung is expecting a 5-fold growth during the festive months.
Singh points out that doing laundry has become a popular topic at home over the past two years as families are sharing more responsibilities and doing household chores together.
“Consumers are investing more time in choosing the right products that truly fit their way of life. At Samsung, we are constantly expanding our selection of washing machines and introducing a range of new features to complement their lifestyles,” he said.
In the refrigerator segment, Singh said Samsung is expected to lead the market with a 35% market share by the end of this festive season. This growth will be driven by growing consumer demand and the company also plans to roll out attractive offers and deals across the entire product line.
An interesting trend this holiday season is the return of consumers to physical retail stores.
“Consumers want to experience the product. They want to touch and feel consumer electronics before they buy, which is why we are enhancing the in-store experience for consumers by increasing the visibility of premium products. This year, we are increasing our retail investments by 2x,” he said.
Samsung has started a new Store+ initiative at more than 300 stores, where consumers can order consumer electronics products online from the store, ensuring an endless aisle.
Over the past few months, Samsung has launched a series of products across segments, especially high-end products including QLED Neo TVs, The Freestyle projector, soundbar and new AI Ecobubble washing machine.
