After taking a closer look at the trends around smartphones, laptops and Smart TVs during the festive period, we’re focusing on home appliance category. Refrigerators, air conditioners, and washing machines attracts a lot of buyers during the festive season. In our survey, 17 per cent of respondents said they plan to buy a home appliance product in the upcoming sales.
Brands also take most of these benefits by announcing attractive deals and discounts on home appliance products. As the festive season arrives shortly, MySmartPrice, in collaboration with Counterpoint Research, conducted India’s largest festive survey to understand consumer behaviour toward buying smartphones, laptops, tablets, and home appliances. You can check out the full MSP Festive Buying Survey 2023 report, but if you are pressed for time, we have collated the top insights for home appliances in this piece.
Festive Buying Behaviour for Washing Machines
Washing machines have been a useful home appliance across the country and during the upcoming sale season, users would be looking to upgrade their appliance. Here are some key takeaways for the category from MSP Festive Buying Survey 2023.
- LG and Samsung remain the most preferred washing machine brands during the festive season with 29.7 and 21.5 per cent of respondents choosing them.
- Over 40 per cent of respondents said they plan to buy a washing machine in the budget segment i.e. for under Rs 20,000.
- Rs 20,000 to Rs 30,000 was another segment where buyers showed their interest.
- A whopping 72.3 per cent of respondents said that discounts and exciting deals influence their buying decisions.
Festive Buying Behaviour for Refrigerators
Refrigerators are another popular category where buyers are likely to spend their money in the festive season. Here are some key takeaways for the category from MSP Festive Buying Survey 2023.
- Samsung is the most preferred refrigerator brand in India. In our survey, over 36.5 percent of respondents choose it over other brands.
- LG and Whirlpool were the other two preferred brands with 22.6 and 7.4 percent of respondents selecting them.
- Rs. 20,000 to Rs 30,000 is the most popular price segment for buying refrigerators as 33.3 percent of respondents opted for it.
- Both, under Rs 20,000 and Rs 30,000 to Rs 40,000 segments, received 25 percent of votes indicating that buyers are willing to spend different amounts for the refrigerator.
- 3 out of 5 respondents stated that discounts influence their buying decisions while buying a new refrigerator.
Festive Buying Behaviour for Air Conditioner
Summer departs before the festive season arrives but this doesn’t hold the buyers to buy a new air conditioner in this period. In our survey, 6.9 percent of respondents mentioned that they plan to buy a new one.
- LG and Bluestar are the most preferred brands for buyers in the upcoming sale season with 19.4 and 18.5 percent of users choosing these brands.
- A majority of buyers are looking for ACs in the mid-price segment i.e. Rs 20,000 to Rs 30,000, or in the entry-level category, i.e. below Rs 20,000.
The MSP Festive Survey Report 2023 gives us a clear indication that although smartphones and other electronic products take up a lot of buyers, home appliance products are not much behind.