Consumer durable sales declined ~15% sequentially in the month of November

News: According to ET, consumer durable sales have declined by ~15% sequentially amid higher base and lower than expected offtake of wedding related shopping.

Views: We believe, last year Q3FY21 has witnessed a strong pent up demand thereby making a very high base. Consumer durable firms has taken price hikes in the current year coupled with covid restrictions on gathering may have led to softening of the demand in this wedding season. Put together we may see a lower volume offtake and growth primarily coming through price hikes.

Impact: Negative