With a ‘fairly profitable’ year of 2016, the consumer durable industry is looking forward to maintaining the momentum by cashing in on GST, likely to be rolled out in 2017, and overcome the short-term issues thrown up by demonetisation. The makers have plans to introduce new technologies along with premiumisation of their existing offerings, increase in localised production and retail visibility focusing on enriching consumer experience next year.
Terming the setback from demonetisation as “a short-term phenomenon”, the consumer durable makers are eyeing a bigger benefit from GST as it is likely to reduce tax burden, logistical and transactional costs. “Samsung plans to outpace market growth by making continuous investments in making products that address the distinct needs of Indian consumers. Second, we wish to increase retail visibility and focusing on enriching consumer experience,” Samsung India Vice President, CE Business Rajeev Bhutani told PTI. leEco India COO Smart Electronics Business Atul Jain said: “In 2017, we will focus on growth and consolidation of the gains we have made in 2016. We aim to realise this through the launch of our next generation Superphones and SuperTVs. As part of leEco’s online to offline strategy, we will be launching our own branded stores.”