THIRUVANANTHAPURAM: The home appliances and consumer electronics industry in the capital continues its struggle to stay afloat and recover from the loss it suffered since the pandemic outbreak. Despite the advertisements and offers, sales are yet to pick up in the home appliances market this Christmas season.
According to market experts, Kerala is in a deep financial crisis and people don’t have the purchasing capacity that they once had. Also, a large section of consumers has migrated to online shopping. Normally, the industry records a 25 to 50 per cent increase in business during Christmas.
Many retailers say the industry, however, is seeing a slight improvement than last year. “Things are slowly returning to normal. But this Christmas, the sale is only average. We are continuing the earlier discounts instead of giving an exclusive Christmas offer. I believe the shopping season for Malayalis is always Onam. There was a boom in the sale of smart TVs earlier because of the online classes and OTT releases. We are expecting more sales in January,” said S Gauthaman, managing director of QRS.
Many buyers are scared of the third wave of the pandemic, say traders in the city. “People are buying only essential appliances like washing machines, refrigerators. Lakhs of people have returned from Gulf countries and are jobless now. This is impacting our market. The past two years have been rough and we have suffered a minimum of 30 per cent loss each year due to the pandemic,” said Surendran D, managing director of Supriya Home Appliances and Electricals.
“The customers are bringing appliances for servicing instead of buying new ones. It will take another two years for the industry to get back on its feet,” he added.
According to a spokesperson of Lulu Mall, which recently opened in the capital, business is good as there are many inaugural offers. “There is good footfall and the products are moving. We are giving 10 to 70 per cent discount as an inaugural offer on various products, including electronic goods,” said the official.
Though many retailers and dealers have launched online platforms for selling white goods, the response is lukewarm as people prefer established platforms like Amazon and Flipkart.
“Online shopping is a blessing in disguise. The internet operates 24 hours a day, so do e-commerce websites and applications. Shop-at-any-time is the basic now. The return and refund options make the experience hassle-free when it comes to online shopping. And these websites offer a cheaper price. As competition rises between e-commerce platforms, products become cheaper and come with pocket-friendly EMIs,” said Anupriya S, a techie.
Kerala Vyapari Vyavasayi Ekopana Samiti general secretary S S Manoj said multinational online shopping brands are giving better offers, which is one of the reasons the industry is struggling. “Knowingly or unknowingly the government and the authorities are promoting it,” said Manoj.
In a quandary