ABP NewsAccording to the report, consumer durables companies did not raise prices during the festive season on the back of higher sales. This is affecting their profits. That is why after Diwali, these companies are expected to increase the prices of their products by seven to ten per cent. Metal prices have risen by 20 to 25 per cent in the last few days.
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Most companies import components from China, and freight charges from China have increased fivefold. Companies have not increased rates in comparison to that. But consumer goods companies are preparing to pass on the increased price to consumers. That is why the process of price hike will start in phases after Diwali.
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Dussehra has seen a surge in sales of consumer durables companies, with e-commerce companies playing a major role. AC, TV, fridge were in good demand during Navratri. Now the companies expect to see good sales even on the eve of Dhantrayodashi and Diwali. The Big Sale, launched by e-commerce companies like Amazon and Flipkart in the first week of October, is still going strong. If consumer durables companies decide to hike prices after Diwali, it will have an impact on the pockets of consumers. While petrol, diesel and other items have become more expensive, now AC TVs, fridges, geysers can also become more expensive.