Consumer Durables Retail
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In the last 10 years, a huge growth has taken place in the consumer durables retail market. Taking the present situation into account, one can see that the demand for consumer durables has been increasing.
The increase in demand for consumer durables retail is because of the increase in disposable income levels in families, since most families are based on a double income these days. The rise in the levels of family income have transformed the visage of the Indian lifestyle which means that most companies view India as a prime destination for consumer durables retail.
Most of the the consumer durables retail market comprises of television sets, audio systems, VCD players, washing machines, microwave ovens, air conditioners, toasters, juicer-mixer-grinders, and so on. Though Indian consumer durables have been increasing in demand within the domestic market, it has tough competition from international consumer durables companies such as Sony, Samsung, LG, and Philips. In fact, according to the Indian Retail Sector analysis 2006-07, the size of the Indian consumer durables industry in the retail sector stands at US$ 4.5 billion.
Among consumer durables retail goods, flat-screen television and frost-free refrigerators have been in huge demand in recent times. In 2005 alone, 9 million TV sets and more than 4 million refrigerators were sold in India.
The performance of the consumer durables retail is critical to the growth of the retail industry of India. There are new ventures being forayed into by the big Indian companies. For instance, we have the Speech and Software technologies, from the Tata Group which is working towards the launch of consumer durables in India. The Tata Group is going to work in collaboration with Woolworths - an Australian company.
Such steps in the consumer durables retail sector would definitely facilitate the need for Foreign Direct Investment. However, some international retailers have already started investing in the Indian consumer durables market, such as Metro, Spa International, and Dairy Farm.
Among Indian companies, Pantaloons is looking forward to start its saga of consumer durables retail. The commodities would constitute color televisions, washing machines, refrigerators, and microwave ovens. The chain of goods will be available in Big Bazaar, which is owned by Pantaloons.
It is quite a challenge to maintain the consumer durables retail market in India because of the unprecedented challenges that are attached with it. However, the consumer durables retail market in India are here to stay because of the new age tastes of the modern consumer in India.
Most of the the consumer durables retail market comprises of television sets, audio systems, VCD players, washing machines, microwave ovens, air conditioners, toasters, juicer-mixer-grinders, and so on. Though Indian consumer durables have been increasing in demand within the domestic market, it has tough competition from international consumer durables companies such as Sony, Samsung, LG, and Philips. In fact, according to the Indian Retail Sector analysis 2006-07, the size of the Indian consumer durables industry in the retail sector stands at US$ 4.5 billion.
Among consumer durables retail goods, flat-screen television and frost-free refrigerators have been in huge demand in recent times. In 2005 alone, 9 million TV sets and more than 4 million refrigerators were sold in India.
The performance of the consumer durables retail is critical to the growth of the retail industry of India. There are new ventures being forayed into by the big Indian companies. For instance, we have the Speech and Software technologies, from the Tata Group which is working towards the launch of consumer durables in India. The Tata Group is going to work in collaboration with Woolworths - an Australian company.
Such steps in the consumer durables retail sector would definitely facilitate the need for Foreign Direct Investment. However, some international retailers have already started investing in the Indian consumer durables market, such as Metro, Spa International, and Dairy Farm.
Among Indian companies, Pantaloons is looking forward to start its saga of consumer durables retail. The commodities would constitute color televisions, washing machines, refrigerators, and microwave ovens. The chain of goods will be available in Big Bazaar, which is owned by Pantaloons.
It is quite a challenge to maintain the consumer durables retail market in India because of the unprecedented challenges that are attached with it. However, the consumer durables retail market in India are here to stay because of the new age tastes of the modern consumer in India.
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