Consumer Durable industry can be categorized into following two categories
This includes consumer electronics such as Televisions, Laptops, Mobile Phone, Camera, PC, Audio Systems etc.
This includes consumer appliances such as washing machine, microwave, kitchen appliances, air conditioners, microwave etc.
As on date most of the consumption of these products are there in urban area which currently to the tune of two third of total production. The prospect in rural belt is still untapped which create huge opportunity in coming time.
Apart from the demand of Indian products are also increasing abroad. Overall Consumer Durable exports from India reached US$ 362.12 million in FY 18 and expected to grow significantly. The electronic hardware production only crossed ₹3.88 trillion (US$ 60.13) in FY18 and still growing at a CAGR of 26.7 per cent between FY14-18. Demand for electronic hardware in India is expected to grow US$ 400 billion by 2024 and following are the reason to be catalyst in the growth path.
Indian rural market witnessing massive electrification where there is great potential of seeding new products.
Rising income & lifestyle – India witnessing a significant growth in per capital income which leads to upgrade in lifestyle and technology dependent, it is fueling the demand and growth of Consumer Durable industry.
Innovation – Regular modification and new technology introduction is attracting new sale and even reselling.
Finance support – Many financing companies offer very low rate on financing of these products on minimum documentation and it is creating new market at the place where buy capacity is poor.
Rich retail network – Availability of multi-brand and exclusive show room for Consumer Durable products and became very dense per sq.km. and they attract new buyers by superb presentation, visibility, availability and service.
Season effect – The marketing of Consumer Durable products become very high on every kind of festival or occasions. They offer attractive offers which widely affecting the buying pattern of customers.
E-Commerce – Increased no. of mobile and availability of internet at every hand makes the product available at the fingertip and reminds its availability at most of the session which stimulates the buying habit of consumer due to high visibility.
Govt. policy support - The Government of India's policies and regulatory frameworks such as relaxation of license rules and approval of 51 per cent foreign direct investment (FDI) in multi-brand and 100 per cent in single-brand retail are some of the major growth drivers for the consumer market.
When such a scenario of growth it is no need to say the leading brands of world are getting attracted and investing more and more in Consumer Durable industry and it is continuously getting top rank in the most desired industry from employment point of view.
Consumer Durable industry demands wide range of specialist for its product life cycle as follows.
Sales & Distribution -
This is the area where highest no. of employee demand is there which helps in reaching the product to end users. This comes under channel sales and these people creates a smooth channel for product movement from factory to end users. They appoint Stockiest to Retailers, arrange for warehousing and look after the logistic etc.
Engineers – Innovation is the key to success for this industry and to remain in competition every company needs to produce something new, which always keep the high demand for Engineers in R&D and product development team apart from production unit on regular basis.
When competition is high the role of service becomes very high. To keep the customer well serviced every company requires to create a good network of Service Centers and every Service Centre employees’ good number of service and support persons.
Marketing – The role of Marketing & Branding in ACE industry is very crucial, and many MBA Graduates are required to create difference in marketing division to create cozy environment for high product sales, merchandising and advertising purpose.
Support role – Like other industry the demand of support role is respectively high for the people like Finance, HR, Training, Public Relation, Legal and others.
The Applicable & Consumer Industry is expected to grow at a rate of 9 % CAGR to reach ₹3.15 Trillion (US$ 48.37 Billion) by 2022. Therefore, like the name called Consumer Durable, one can think a long-term durable prospect for the employment in the industry.