A1 India Industrial Company, Palwal
Manjeet Singh Bhadana
Brands Retailed: LG, Haier, Samsung, and Panasonic
2016-17 has witnessed a huge transformation in air conditioners. Earlier, energy-efficient models were seeing sluggish growth, but now there is a spike in the sales of inverter air conditioners. Air conditioners with built-in air purifiers are gaining popularity among consumers owing to increasing temperature and air pollution. Moreover, the cost of purchasing an air-purifier-based air conditioner is comparatively lower than the average price of purchasing the air conditioner and the air purifier separately.
Business House Electronics Pvt. Ltd., Jaipur
Brands Retailed: Haier, Blue Star, and Panasonic
Consumers now prefer inverter ACs over 5-star-rated ACs owing to various advanced features, such as power-saving, effective cooling, and air purification, among others. The market for inverter ACs will continue to grow. There is a rapid shift from window ACs to split ACs in households. Affordability is no more a major constraint as most of the retailers are offering EMI schemes to consumers. However, window ACs will not vanish from the market completely as they are still preferred by low-income households.
Kallarackal Electronics, Kerala
Brands Retailed: Videocon, LG, Samsung, and Onida
Buzzword for 2017 in the market is smart. Smart TVs with large screen sizes have witnessed the highest growth in overall sales. 3-D TVs were popular till last financial year; however the demand is diminishing eventually. 4K technology is expected to grow tremendously, but only if prices are brought down further. 2017 is proving to be a good year in terms of technology as manufacturers are leaving no stone unturned in introducing new models in the Indian market, and bringing the country at par with the global markets.
Darshan Electronics, Pune
Brands Retailed: Videocon, LG, Hitachi, Samsung, Whirlpool, and Godrej
The frost-free refrigerator is gaining massive popularity over traditional refrigerator models in the Indian market. There is a trend for double-door refrigerator, which starts from 200 liter capacity to maximum 500 liter. The demand for refrigerator in India is mainly from urban areas. Energy star rating, warranty, quality, space, price, cleaning ease functionality, and styling are currently major influential factors while purchasing a refrigerator. Improving living standards, rapid urbanization, increasing number of nuclear families, and large untapped market are major growth drivers for the refrigerator industry. The major players are cutting their prices and launching new models with advanced features and new designs. However, GST rollout may lead to a hike in prices which may affect the market to some extent.
Electronics World, Patna
Brands Retailed: LG and Godrej
Changing purchasing behavior and lifestyle of consumers is leading to growing market of fully automatic washing machines. High price of premium models is no more affecting sales considerably in Tier-I market; however, semi-automatic washing machines still dominate Tier-II and Tier-III markets. Since consumers have started laying more emphasis on high-quality products, we believe that premium segment will gain momentum in Tier-II and Tier-III markets as well.
National Electronics, Jaipur
Vijay Mohan Rathi
Brands Retailed: Racold, Ferroli, Warmex, and Vitek
The scenario in the Indian market is changing. Now consumers are moving toward technology advancements from affordability owing to easy finance options offered by retailers. Features that were considered luxury have become necessity, and influence the purchase of consumers. Smart water heater is one such example, as features like Wi-Fi connectivity, energy-efficiency, touch-screen, and safety lock, among others are now prerequisites. Water heater market will continue to grow as they are rapidly penetrating the untapped market.