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Consumer durables' sales growth in 2019 best since demonetisation

Feb 17, 2020 12:33 IST

Sales growth of consumer durables like refrigerators, ACs and washing machines in 2019 was the best since demonetisation, as per the data released by market research firm, GfK India. Volume sales in the overall consumer electronics and major domestic appliances market grew 9% year-on-year in 2019 against 1% in 2018 and 4% in 2017. As per the data, refrigerator sales went up by 9% in 2019, washing machines by 12%, and air-conditioners by 25%. Smartphone sales growth in offline stores declined marginally from 10.9% in 2018 to 8.7% last year. However, online sale of smartphones grew at 45% last year. Television sales declined 2% in 2019 due to a shift towards audio-visual consumption over smartphones.

Economy