Consumer appliances will continue to witness strong volume and value growth in the next five years, market research firm Euromonitor has forecast. However, a rise in domestic manufacturing is expected to keep price increases for appliances under check due to savings on import duties and transportation.
The Euromonitor report said 2015 turned out to be “better” for consumer appliances, attributing the higher sales in the year to an “improved economic situation”, which resulted in higher disposable incomes. Although electronics and appliance specialist retailers continued to dominate sales, internet retailing witnessed double-digit volume growth in 2015. Convenience of placing an order via the internet, heavier discounts than brick-and-mortar stores and easier returns made internet retailing a popular channel, especially for urban consumers. Consumer appliances and electronics became the second most sold products by value through internet after apparel