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Consumers in Kolkata will experience 2-5% price hikes on electrical goods due to factors like high inflation rates in copper and aluminium, freight cost increases, Red Sea crisis, and rupee depreciation.
Companies and retailers used this Republic Day weekend to offer deep discounts and enticing financing options, fuelling a 25% sales surge, amplifying their efforts to clear inventory. The mid-premium segment was the biggest beneficiary, even as overall sales grew at a slightly faster pace than even last Diwali.
Packaged food, staples, laptops, wearables and smartphones saw the highest growth rates, mainly due to new products, according to senior industry executives.
Three industry executives said Chinese brands like OnePlus and Realme are soon likely to exit the television business altogether in India, or significantly downsize it. Emails sent to OnePlus and Realme remained unanswered till press time on Thursday.
The Chinese brands in the Indian television segment are losing market share for the first time, mirroring the trend in the smartphone space.