New Delhi: Amidst the ongoing economic meltdown, the consumer companies are all set to recapture the market in the coming festive season. With lucrative discounts and tempting schemes down their sleeves, the companies are aiming to draw the customers to the showrooms.

The leading six companies including Samsung, Haier, Whirlpool, Sony, Panasonic and LG which manufacture televisions, washing machines, microwave ovens, air conditioners and other household appliances are set to spend a whopping Rs 600 crores on gifts ranging from watches to cars and even holiday packages.

Bearing the brunt of the rising inflation which has kept the shoppers at home, the companies have decided to present more exciting offers during this festive season.

The household appliance manufacturing companies Haier and Whirlpool announced their festive schemes on Wednesday. Whirlpool kicked of its ‘Sabka Jashn Sabki Jeet’ offer under which the company will be distributing free gift vouchers from Yatra.com worth Rs 2,500. A 40 percent discount will also be given to 25 lucky winners on purchase of air conditioners. It has launched a complete range of washing machines and microwave ovens with its total expenditure on gifts amounting to Rs 150 crores.

Haier has also launched its gift scheme ‘Haier Lao Kismat Chamkao’ offer valid from September 15 to October 31, 2011. The customers can win assured gifts ranging from watches to crockery sets and will also get a chance to win the special bonanza prize upto Rs 5 lakh.

While Samsung has announced to distribute gifts worth Rs 150 crore within 45 days of the festive season; Panasonic, LG and Sony will also be giving out gifts worth about Rs 100 crores each and have launched complete range of their products.

It is to be noted, with rising food prices and fast moving consumer goods (FMCG) becoming costlier day by day, the companies have been witnessing a decline in sales as the customers were spending on the edge. The growth rate of these companies which was 20 percent last year in the first quarterly sales, has fallen down to a meager 3.3 percent this year. Though there was some improvement in July at 8 percent but observing the current global economic slowdown, lesser hopes are visible on this front.

Since the companies experience 40 percent of their total sales in this festive season, they have decided to shell out 25 percent more on gifts this time.

(JPN/Bureau)