Strong sales of consumer goods by e-com players amid strong festive demand
According to The Economic Times, consumer durables (such as smartphones, TVs, home appliances) sales have reported strong growth of 12-20% YoY during Navaratri amid strong festive demand.
The festive season (which starts from Onam and ends iniwali) contributes 25-30% of overall sales of consumer products. We believe, sales growth of 12-20% YoY during Navratri was driven by discounts and festive offers amid cooling off raw material prices. We believe, under our coverage universe, Havells India and Bajaj Electricals will benefit from a revival in demand and cooling off raw material prices.