From gold jewellery to smartphones: Consumer appetite for premium products drives sales resurgence

Kolkata: Consumer indulgence in premiumisation helped several product categories from branded gold jewellery to smartphones to televisions to improve sales in the December quarter after struggling in most of 2023, latest earnings report of companies and market researchers’ data show.

In electronics, smartphone sales bounced back after five quarters of decline, driven by high sales of premium models such as Apple iPhones and Samsung Galaxy S23 series, and demand for large screens during the cricket world cup helped TV sales volume grow by 8-9% on year – up from 2% growth during January to September – last quarter, industry executives said.