About Consumer Durables
Consumer durables refer to those consumer goods that do not quickly wear out and yields utility over a long period of time. Some of the popular and common examples of these kinds of items are electronic goods, kitchen appliances, home furnishings and leisure equipments etc. Consumer durables can be broadly categorized into the following 3 heads:
Brown Goods: This kind of consumer durables mostly include kitchen appliances like chimneys, electric fans, grinders, iron, microwave ovens, mixers and varied other cooking ranges.
Consumer Electronics: Some of the mostly used consumer electronic goods are DVD players, MP3 players, mobile telephones, telephones, VCD players etc.
Growth prospect of consumer durables' market
With the continuous inflow of disposable income and the advancement of technology, the need for the varied consumer durable goods are increasing even in the country of India. This in turn is leading to a strong competition among the different consumer durable brands available in the nation as well as the price gap between the same consumer goods of different companies are narrowing down. Day by day these goods are becoming cheaper. The rural and urban market of consumer durables has been growing at a rate of around 15 % on an average.
Different consumer durables' brands in India
Many of the national as well as multi-national brands are involved in the business of consumer durables in India. Apart from the famous brands, some portion of this market in the nation has even been captured by some unbranded consumer products. However, to name a few of the top consumer durables brands in India are:
LG: Starting their business from 1st October, 1958, LG Electronics is known for consumer goods like air conditioners, CDMA handsets, DVD players, home theatres, optical storages, radios etc.
Nokia: This brand name is famous for their innumerable products related to mobile telephones and is one of the leading mobile telephone brands in India. This brand has got a flair for introducing new models updated with the latest technologies, which meets the requirements of the modern tech savvy people of the country.
Philips: Philips Electronics India Limited is one of the leading consumer durable companies that have got different kinds of consumer durables in the national market. Some of the popular Philips' consumer durables are television sets, music systems, personal care items, household products, lightings, telephone handsets, computer products and accessories etc.
Samsung: Commencing its operation in India during the month of December in 1995, Samsung is presently enjoying a turnover of more than U. S. $ 1 billion. Famous for their products like washing machines, refrigerators, color monitors and televisions, this company is headquartered in the capital city of New Delhi. Their design center is located at different parts of the world though. The “made in India” Samsung products are even exported the Middle East as well as SAARC countries.
Sony: The Japanese company Sony Corporation started their business operations in India from November, 1994. Comprising of more than 7000 channel partners and 215 Sony Worlds, this brand is one of the leading consumer durables' brands in India, who offers goods like color televisions, music systems, mobile telephones, laptops and many more.
Whirlpool: Headquartered in U. S. A., Whirlpool is one of the most recognized home appliances' brands in India. Apart from holding a share of above 25 % in the national market, this is said to be the biggest refrigerator and the 2nd biggest washing machine brand in the nation.
Some of the other popular consumer durable brands in India are as follows:
- Blue Star
- Godrej India
- Hitachi India Limited
- Sharp India Limited
- Toshiba India Private Limited