We are so dependent on everyday products that instead of toothpaste we ask for ‘Colgate’. Locks are ‘Godrej’ and for some, phones have to be of either Apple or Samsung. The average Indian is so dependent on branding that he/she will go to any vendor and ask that particular brand only.
Consumer Durable Usage in India
A major reason for this is the increase in the disposable incomes. Electrification of rural areas and the wide usability of online sales also aid in the heightened demand for consumer durables. Take for example the consumer durable loan offered by Loan Singh. Consumer durable loan is a financial opportunity that is not offered to everyone. Being salaried for at least 6 months, with no credit blemishes, are the traits of someone who can avail a consumer durable loan with Loan Singh.
Remember that credit card loan and consumer durable loan are 2 different credit instruments. We, at Loan Singh, want you to upgrade your aspirations and your lifestyle. There is no harm in upgrading your gadgetry or home appliance choices. A whole new range of smartphones is being released with awesome features each year. So, why not join the winds of change. Almost every good electronics brand in the world wants to tap into the opportunity in India.
Loan Singh’s finance blog will discuss all things electronics this week. Loan Singh’s hassle-free process and quick approval consumer durable loans are perfect for salaried individuals like you who are too busy to even take rest. The attractive interest rate, at Loan Singh, makes consumer durable loans affordable to repay. Add luxury to your lives without putting too much strain on your finances. Your dreams are our dreams. We help turn your dreams into reality.
Brand new appliances and electronic products are also needed in case you are relocating due to your job. The job relocation personal loan at Loan Singh helps cover exactly this. Loan Singh’s easy EMI calculator can help you understand how much you need to pay in order to clear your consumer durable loan. The calculator only needs your intending loan amount and tenure for telling you how much you need to pay each month. The consumer durable loan can be availed of an amount ranging from Rs. 50000 to Rs. 5 Lakhs.
This also indicates the sheer quality of these brands and their respective products. India, for some time, is an emerging market for every company that enters the consumer durable space. The population is large and the buying power of the population is larger. Gaining a market share in India’s consumer durable space is a tempting prospect. There is a belief that India will climb the rungs to become one of the largest consumer durable markets in the world.
There are two categories for consumer durables in India. One is the consumer electronics category and the other is the consumer home appliances segment. The electronics include DVD players, cameras, smartphones, television, etc. The appliances could be kitchen appliances, washing machines, refrigerators and other home appliances.
White goods include products such as audio equipment, speakers, washing machines and refrigerators. Brown goods on the other hand, includes products such as grinders, electric fans, microwave ovens, iron, mixers and other cooking appliances. Consumer electronics included electronic consumer durables such as telephones, MP3 players, DVD players, VCD players and smartphones.
What makes a consumer durable personal loan perfect?
Consumer durables are not cheap. The best products are always branded. We need to get the best durables to better our lives, we need to seek the best brands. Better brands guarantee longevity of the products, provide value for money and are manufactured using the best parts.
Sure, you can look for brands that provide online discounts that is just smart shopping. Offers, flash sales, cash-backs etc. are all part of the overall marketing strategy employed by brands to make us buy more. Buying more and discounts are fine but sometimes the amount reduced to even after a discount is so large that it is still possible to leave a hole in our pockets. So, what do we do? Get a quick online personal loan!
Best website for a consumer durable personal loan
Don’t listen to your uncle’s friend’s third cousin for advice. Get online and search for Loan Singh. Consumer durable personal loan is a financial opportunity that is not offered to everyone. You need to be salaried and earning more than Rs. 20,000 per month. Being salaried for at least 6 months, with no credit blemishes, are the traits of someone who can avail a consumer durable personal loan with Loan Singh.
Smart persons will raise their hands like high school nerds and say, “We can buy these products with our credit cards as well, why opt for a consumer durable personal loan?” That’s a good retort but understand that credit card loan and personal loan are 2 different credit instruments.
15 Consumer Durable Brands in India
Today, we will look at the 15 popular consumer durable product brands in India. These are not brands that we have gauged ourselves, neither have we considered a list from a website. This is just a standard list of who we think are brands whose products are worthy for a consumer durable personal loan. Some brands are based out of India, whereas some have become favorites of Indian even though headquartered elsewhere in the world.
- Bajaj Electricals
They are easily one of the largest consumer appliance manufacturers in India. Trusted since 1926, due to their quality and durability, the ‘Hamara Bajaj’ products include Bajaj lighting, Bajaj home appliances, Bajaj kitchen appliances, Bajaj geysers, Bajaj ceiling fans, pedestal fans, exhaust fans, light bulbs, lanterns and battery torches. Bajaj kitchen appliances among others. The Bajaj Group is the parent company of Bajaj Electricals. Its domination in the home appliances segment is a testament to its fantastic distribution across India. Very few companies can boast being its contemporary. LG is one brand that can be called a contemporary to Bajaj but only in certain sub-segments of home appliances.
Considered ‘masters of security’, their products have been part of our lives since ages. The old cupboard in your grandmother’s bedroom will be slightly rusted, lost its sheen, covering for the keyhole and developed stains on the edges of the mirror, but its durability will not be in question. Add to that Godrej safes, Godrej security equipment, Godrej CCTV cameras, Godrej refrigerators, Godrej air conditioners and Godrej digital imaging. Godrej’s locks are a segment in its own right. This trust rubs off on its other products as well, making them one of India’s original brands.
- VIP Industries
VIP is considered one of Asia’s largest manufacturer of travel utilities. Their product range includes backpacks and luggage bags. The company was started in 1971 and headquartered at Mumbai. VIP is the considered a leader in travel utilities across Asia. Their travel bags are further categorized into duffel bags, shoulder bags, heavy luggage bags, backpacks, trolleys, waist pouches etc.
- Blue Star
Blue Star Infotech was founded in 1983 and is one of the largest manufacturers of consumer electronics in India. It has its corporate offices in Mumbai, Bengaluru, New Jersey, Santa Clara, London, Malaysia and Singapore. It is a subsidiary of the Blue Star Group. The most notable products of Blue Star are air conditioners. Blue Star ACs are amongst the top AC brands in India though it also produces Blue Star refrigerators, Blue Star deep freezers and Blue Star water purifiers as well. The market capitalization of Blue Star Infotech in May 2015 amounted to Rs. 3,168.45 crores.
Staying with cooling, if any company competes with Blue Star regularly, then it is Daikin. Their staple products are towards Daikin air conditioning and Daikin air conditioners. They are also loved for their product quality. Their distribution network is not as flourished as Blue Star’s but it is a dominant player in its B2B channels.
The TTK Prestige or Prestige, as it is commonly called, is a consumer durables unit that belongs to business conglomerate TTK Group. Founded in 1928, the TTK Prestige Group is a highly reputed consumer products brand which specializes in Prestige kitchenware. They also manufacture Prestige gas stoves, Prestige cookers, Prestige microwave ovens, Prestige induction cookers, Prestige juicer-mixer-grinders and Prestige toasters.
Okay, a lot of air conditioning products here. Why not? India’s summer is so scorching, that it gives rise to so many market players in the air conditioning segment. Voltas is easily ranked among the top three air conditioner manufacturers in India, along with Daikin and Blue Star. It has however expanded onto other products such as Voltas air coolers, Voltas dehumidifiers and Voltas air purifiers among others.
Videocon’s emergence from India has significantly put it among the best consumer electronics companies. Aggressive in pricing and penetrative with regards to its reach, Videocon caters to the section B and C classes with respect to value for money products. Due to its wide variety of product portfolios which include Videocon washing machines, Videocon refrigerators, Videocon air conditioners, Videocon CD-DVD players and Videocon televisions, it is frequently regarded as one of the top consumer durable companies in India.
Whirlpool simply dominates the washing machine segment in India, since 1987. The company was founded in Michigan in 1911. It owns a major market share in the same segment. For a long time, the byword for ‘washing machines’ was Whirlpool. A whirling pool is symbolic of a washing machine’s working. It has, however expanded into other products such as Whirlpool microwave ovens, Whirlpool air conditioners, Whirlpool refrigerators, Whirlpool water purifiers among others.
At one time, Onida was a major consumer electronics player in India. It was however overshadowed by the likes of Blue Star, LG, and Samsung. Despite that, Onida owns a wider product portfolio compared to Blue Star or Voltas.
This Indian manufacturing major came into existence in 1987 and is headquartered in Bengaluru, Karnataka. Titan is a celebrated manufacturer and dealer of renowned jewellery, watches, sunglasses and other luxury consumer accessories. Titan offers a number of brands that are rated amongst the very best in their respective segments such as Titan, Fastrack, Sonata, Xylys and Helios watches or jewellery brands like Tanishq. Titan is a subsidiary of the Tata Group. The market capitalization of Titan amounted to Rs. 32,963.50 Crores in May 2015.
Being a global leader in consumer electronics makes it easy for Samsung to be part of any country’s market. Samsung dominates the television and smartphone industry. They cater to the section A and the section C class of the masses due to its respective large market share and this allows Samsung to manufacture smartphones with flexible pricing. Samsung has a wide range of products such as Samsung refrigerators, Samsung televisions, Samsung washing machines and Samsung home theatre systems.
Thanks to Samsung, LG is still not able to reach the market share it feels it can reach. LG does, however, have a great market share in the television segment. LG washing machines are known for their performance and durability. LG also deals with LG home appliances and LG kitchen appliances. LG is virtually a leader in consumer home appliances.
When it comes to consumer electronics, Sony deals with products such as Sony televisions, Sony speakers, Sony cameras, Sony PlayStation, Sony home theatre systems and Sony smartphones. Their products are known for their brand equity and are ranked in the top global 500 companies list.
Philips is a strong candidate in the consumer grooming and consumer personal care segment. Philips shavers and Philips trimmers are leading grooming products. The company also sells Philips DVD players, Philips televisions, Philips computer accessories and Philips home player systems.