The festival season has traditionally been a time of increased consumer spending, and this year was no exception. A significant surge in sales of high-tech consumer goods, particularly panel TVs, smartphones, and laptops, was observed, marking a notable trend in consumer behavior.

This uptick in sales was largely driven by a variety of consumer finance plans, attractive cashback offers, and substantial discounts. These strategies proved effective in enticing customers to make big-ticket purchases during the festive period.

According to a recent analysis by GfK, sales of Panel TVs and Flat TVs saw a remarkable increase during the Dussehra-Diwali period. Compared to the same period last year, Panel TVs sales rose by 53%, while Flat TVs sales grew by 39%.

The smartphone market also experienced impressive growth. There was a 41% increase in the number of units sold and a 31% rise in the overall value of sales between the two festival periods, indicating a strong consumer demand for the latest mobile technology. Laptops, another key segment in the consumer electronics market, witnessed a unit growth of 26% and a 23% rise in value. This growth reflects the ongoing demand for personal computing devices, possibly driven by remote work and learning trends.

Anant Jain, Head of Customer Success Management at GfK, an NIQ Company, highlighted that the significant sales growth observed during this year's festival season was largely due to strategic promotional offers, discounts, cashback, and consumer finance schemes offered by brands.

In addition to TVs and smartphones, strong sales growth was also seen in laptops, washing machines, and cooling appliances during the week of Diwali compared to the preceding week. This trend underscores the festival season's impact on various segments of the consumer electronics market.