World Cup: If cricket is a religion in India, then the World Cup is its most joyous festival. The fervor and frenzy of cricket fans have more than offset the traditional reluctance to make purchases during the shraddh period. And with the blockbuster India-Pakistan match looming ever larger, sales, deliveries, and installations of new TVs, especially large screens, are scaling new peaks.
Companies like Samsung, Xiaomi, Sony, LG, and Panasonic have reported “unprecedented bumper sales during the shraddh period” and have been struggling to meet orders and “instant installation” demands.
Several companies and online retailers had started ‘festive sales’ earlier than scheduled this year to cash in on the cricket fever and are now reaping rich dividends.
Companies see strong demand for larger screen TVs
“With the Indian team emerging as a top contender, the excitement knows no bounds as we head into the India-Pakistan clash on Saturday,” says Gireesan Gopi, Business Head (Home Entertainment) at LG India. “We expect sales on Friday and Saturday to be as high as that on a Dhanteras, especially for the large-screen ones.” “Sales of our 55-inch and above TVs are higher by 2-2.5 times of what we sold in the similar Shraddh period last year,” Gopi says.
Mohandeep Singh, Senior VP for consumer electronics business at Samsung Electronics, says there has been a “sellout,” again with an “incredibly strong” demand for larger screens. “It is almost 2.7 times of what we sold in the same period last year. If this holds out during the upcoming festive period, we may run out of stocks by the middle of November.”
Companies are taking extra care to ensure that TVs are installed no sooner than they land at a consumer’s home. “People are excited and demand immediate installation, since the World Cup is on. We have taken measures to ensure that installation happens on the same day,” says Anuj Sharma, chief marketing officer at Xiaomi India. The company has seen sales jump to 3-4 times what it sells in a “regular” month, and Sharma also attributes this to high-resolution quality broadcast.
Fumiyasu Fujimori, MD of Panasonic Marketing India, says the demand remains strong in both online and offline channels. “It’s the World Cup phenomenon. Demand for our smart LEDs in the 55-inch category remains very high, and we have seen a 45% surge in sales.”
Sony has a similar story to share. “The combination of festivities and cricket fever has sparked a positive trend… as we anticipate remarkable growth in the 55-inch-plus premium segment. With the onset of the cricket world cup, customers are gravitating towards larger screen sizes, with 75-inch and 85-inch screens becoming increasingly popular,” says Sony India MD Sunil Nayyar.