India Festive Appliance Sales See Value Growth Amid Price Hikes; LED TV Volumes Decline 15-20 Per Cent

New Delhi, November 9, 2026: Consumer appliance companies reported value-led growth in the festive season, which culminated with Diwali, driven largely by successive price hikes and a shift towards premium products, even as volume growth remained uneven across categories, with entry-level segments facing demand pressure, according to industry insiders.

Performance across categories remained mixed, with LED television volumes declining 15-20 per cent during the Navratri-to-Dhanteras festive period in 2026, compared with the year-ago period, while room air-conditioner sales showed divergent volume trends across companies.

Price Hikes Weigh On Consumer Demand

Successive price hikes by the industry during the year to offset higher input costs also impacted demand. The industry implemented hikes of up to 8 per cent, mostly on cooling products and appliances, in October during festive sales.

The increase in product prices, particularly in the mid-premium and premium segments, has weighed on consumer sentiment and purchasing decisions in a price-sensitive market like India, prompting buyers, especially in the mass and entry-level categories, to defer purchases despite festive discounts and promotional offers.

Godrej Enterprises Group Business Head and Executive Vice President (Appliances Business) Kamal Nandi said the company recorded over 50 per cent growth during the like-to-like festive period from October 9 to November 6, against an estimated 20-25 per cent growth for the industry.

The growth was led by air conditioners, followed by refrigerators, with both mass and premium segments expanding at a similar pace across market tiers, he said.

However, Nandi also mentioned that volume growth remained 5 to 7 per cent lower in the festive season this year, comparing the Navratri-to-Dhanteras period on a like-to-like basis.

Television Sales Face Entry-Level Pressure

SPPL, which manufactures and markets television brands such as Thomson, Kodak and Blaupunkt in India, reported a 15-20 per cent decline in TV volumes during the festive season compared with the year-ago period.

SPPL Director Avneet Singh Marwah said premium television models continued to witness growth, while the entry-level segment faced a significant setback.

“For the first time, 32-inch televisions have started de-growing in double digits,” he said, adding that the broader industry trend was similar, with growth largely concentrated in the premium segment.

As a result, the industry is witnessing revenue growth without corresponding growth in unit sales, he said.

Marwah attributed the weakness in entry-level demand to higher prices and subdued consumer sentiment, noting that India remains a price-sensitive market where consumers expect attractive discounts and promotional offers during the festive season.

“If value for money will not be there in the entry level, you will see de-growth,” he said, adding that price increases were among the major reasons behind the postponement of purchases in the mass market.

An interesting trend, however, was the significant increase in the company’s share of 4K televisions, which has now become almost at par with Full HD (FHD) models, Marwah said.

Blue Star Reports AC Sales Growth

Meanwhile, Blue Star Managing Director B Thiagarajan said the company’s room air-conditioner business recorded growth of over 35 per cent in both volume and value terms during the festive period compared with the previous year.

However, the company continues to face pressure on margins as it has not been able to entirely pass on the price hikes undertaken during the year, he said.

Thiagarajan said the correction in pricing and margins was expected to happen after Diwali, as dealers had stocked up significantly ahead of the festival.

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He clarified that although Blue Star had undertaken price increases, the entire increase had not yet been passed on to consumers.

Typically, the festive season, spanning Onam in southern India, Dussehra and Diwali, accounts for around 30-40 per cent of the annual sales of appliance manufacturers, according to industry reports.

(Disclaimer: Except for the headline, this article has not been edited by FPJ's editorial team and is auto-generated from an agency feed.)

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