Demand for refrigerators sees healthy growth this season

Source: The Hitavada      Date: 09 May 2018 11:47:37


Business Bureau

Demand for refrigerator is steadily rising due to various factors like rising income levels, changing lifestyles, easy finance options, aspiration of consumers to buy new models with the latest technology and hot summers.
“The refrigerator demand is showing a healthy growth of 20 per cent compared to previous year,” said Nihar Taori, Director of Taori Marketing while talking to The Hitavada.
Taori said that refrigerators were no longer considered a luxury item but had become a necessity for all and an integral part of the household. Leading refrigerator manufacturers were also leaving no stone unturned in wooing the customers and were introducing new trendy models equipped with the latest technology, adding metallic colours and novel features to meet the special needs of the customers. Refrigerators were available with a capacity between 50 litres and 1,000 litres. The price range started from Rs 7,500 and could go up to Rs 3.5 lakh depending on the capacity, he said.

The demand for refrigerators has increased by 20 per cent at Taori’s three showrooms located at Itwari, Yashwant Stadium, Dhantoli and a large retail format showroom at Dharampeth. The summer season was considered the peak period for selling refrigerators. The most sough-after brands were LG, Samsung, Whirlpool, Blue Star, Hitachi, Bosch, Haier, Godrej, etc. Another popular brand Voltas would be entering the refrigerator market with Beko, an European company in the near future, he pointed out.
The demand for commercial deep freezers was also rising by 12 per cent to 15 per cent especially in smaller cities
and rural places. “A lot of shop-keepers, ice-cream parlours and restaurants are making use of deep freezers to store perishable items which is pushing its demand”, he said. Deep freezers are available with a capacity of 100 litres to 500 litres. They are priced between Rs 19,000 and Rs 32,000 depending on the capacity.

A K Gandhi, Director of Gandhi Marketing said that the demand for refrigerators at his showroom is between 15 per cent and 20 per cent this year. To fuel the demand for refrigerators, manufacturers had introduced the latest models and new features to attract customers like side-by-side refrigerators, dual fridge, linear inverter compressor technology or energy-efficient refrigerators, door-in-door refrigerators, inbuilt stabiliser, 10-year warranty, etc.
Vedprakash Jaiswal, Director of Vedoms, Dharampeth said that the demand for refrigerators was increasing by 20 per cent to 25 per cent at his showroom compared to last year. He said that the customers who had planned to buy new refrigerators were upgrading their refrigerators and buying top-end models. Easy and hassle-free finance options with low downpayment were strengthening the demand.