Abstract
The consumer durables industry, which encompasses major household product categories like home appliances , furniture, and consumer electronics, plays a vital role in the broader economy. With global retail sales estimated at over $2.3 trillion in 2022 (Statista), this sector serves as a barometer of consumer spending behavior and confidence levels. Understand ing prevailing sales trends in consumer durables is crucial for manufacturers to align production with demand, for retailers to optimize inventory and marketing strategies, and for policymakers to gauge economic progressions.The premiumization trend, where consumers are willing to pay more for high end, feature rich products, has been reshaping sales patterns across multiple categories. Simultaneously, the rise of e commerce and channel retailing has disrupted traditional sales channels. Product Life Cycle Theory. Introduction, Growth, Maturity, and DeclineConsumer durables often follow a product life cycle pattern, with sales trends varying across different stages.Behavioral Economics: Concepts like reference dependence, loss aversion, and mental accounting can influence consumer decision making and sales trends. Present visualizations (e.g., line graphs, bar charts) depicting the overall sales trends for different consumer durable products over time.Income and price effects on consumer demand.Highlight any novel insights or contributions to the existing literature on consumer behavior, market dynamics, or related topics. The findings highlighted the significant impact of income, prices, product features, technological innovation, market competition, macroe conomic conditions, and demographic shifts on consumer demand for durable goods.
Keywords : Consumer durables, Sales trends. Technological advancements, Pricing strategies, Market dynamics.
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