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business | IST

Demand has shifted towards higher-end products, says Samsung India

The lockdown has put the focus on home improvement this festive season. In order to get a better sense of how the festive sales are shaping up, CNBC-TV18 spoke to businesses spanning the home spectrum.

The lockdown has put the focus on home improvement this festive season. In order to get a better sense of how the festive sales are shaping up, CNBC-TV18 spoke to businesses spanning the home spectrum.
Keshav Bhajanka, executive director, Century Plyboards and Sandip Somany, vice chairman & MD at HSIL and Raju Pullan, senior vice president for consumer electronics business at Samsung India talked about their respective businesses and how the festive sales are shaping up.
Bhajanka said, “September-October this year would be better than September-October last year. We are seeing far better and far quicker recovery as compared to what we had thought.”
Talking about the big trends in the festive season Pullan said, “Consumer demand has shifted largely to the higher-end products. Consumers across urban and rural markets are looking at upgrading themselves to premium categories.”
“Consumers are upgrading the lifestyle backed by very strong consumer finance options that are there. The usage of credit card has gone up by almost 2 times from what it was being used,” he added.
HSIL said, “Consumer product where we are number two in kitchens, that space has seen a tremendous resurgence. The kitchen space has been growing since August itself and month-on-month the growths are better.”
Watch video to know more.