A seismic shift is underway in India’s consumer durables sector, expected to balloon to ₹3 lakh crore by 2029, growing at 11% CAGR. Salaried youth, especially millennials and Gen Z, are the unstoppable force behind this boom, reveals GI Group Holdings’ latest insights.
These young buyers dominate 37% of sales in fast-selling durables, financing 45% via EMIs or credit. Gen Z leads with 74% embracing flexible payment options like buy-now-pay-later.
What drives decisions? Advanced features hook 68%, online reviews sway 61%, competitive pricing attracts 59%, and solid warranties convince 55%. Value remains king for 73%, yet 70% upgrade to premium tiers for better tech.
Aspiring women buyers (61%) are accelerating upgrades, with 46% refreshing appliances every 2-3 years and 63% experimenting with new brands. Seamless buying journeys, top-notch post-purchase care, and dependable support are now make-or-break factors.
Smart homes are the future wave: 42% already own smart devices, 67% eyeing intelligent upgrades. Sonal Arora, GI’s Country Manager, urges brands to invest in employee training, retail excellence, after-sales prowess, and government incentives like PLI.
In this dynamic market, flexibility and customer focus will separate winners from laggards, perfectly aligning with India’s burgeoning middle-class aspirations.