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Consumer electronic goods sales boosted by rupee fall

Kochi/ Chandigarh, Sep 12 () : Consumer electronic goods sales in Kerala and Chandigarh belt in Punjab is clocking above the national average. The reason being the drop of rupee to the dollar by which NRI inflows to these States being heavy and the families using the extra cash to make purchases.

Consumer goods makers Samsung, Sony, Videocon, Toshiba , Panasonic , LG among others along with the Univercel and The Mobile Store retail chains that sell mobiles as well clothing store Aravind is making hay in these States.

Pounds that come into Chandigarh and Dirhams in Kerala get more rupees now. July and August were boom times as rupee hit the lowest. In Kerala, where Onam festive sales takes place in the first week of September, most companies have crossed the sales targets last month itself.

Onam sees migrant Keralites from Gulf come in droves. Outlets selling consumer electronic goods exceeded their Onam sales target this year since they are buying more due to Forex increase and the imposition of 36 per cent duty on LED and plasma television sets coming in as baggage. TV costing even a lakh or premium smartphones are selling like hot cakes and Sony expects 200-crore sales from this season which is more than the national average of Rs 170 crore.

Samsung Smartphone consumer electronics goods clocked Rs 250 crore even before the Onam festival which is 25% more than the expected figure. LG reports a 18% growth in Kerala.

Retail stores selling mobiles report 20% increase in sales in Kerala in the last two months. Punjab too in the two months saw 30% increase in consumer electronic goods sales. National sales growth is only 7%.

India got $69 billion last year through NRI route. This year so far there is 20% hike. This increase in sales is despite a three-fold increase in prices of these goods. Diwali is expected to bring NRIs from US and UK to Punjab and this could further boost sales. Yet another reason is that agricultural harvest which is said to be yielding bumper crop due to good rains will keep the buying spree on.

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