Sunil Chopra
Senior General Manager, PGH, Refrigerator,
Haier Appliances India

Refrigerators market is Looking Up

The Indian refrigeration industry has grown and evolved over the years and a refrigerator is a necessity in every household today. Unlike the earlier times, a refrigerator has today become an essential commodity which is required throughout the year, be it summers or winters. Hence, the demand of the product across all segments, affordable as well as premium, has increased over time.

As per a report by research and markets, the sale of refrigerators in the county is expected to grow at a CAGR of more than 5 percent over the next 2–4 years. Refrigerator as a category is not very new in India but it has immense growth potential due to a huge consumer base that exists in India, specially the markets that are yet untapped.

What has fuelled this growth, are factors such as evolving lifestyle of Indian population (in both rural and urban areas), increase in the number of nuclear families, rise in the number of individuals living independently away from their families, easy availability of credit, and introduction of new models on a regular basis owing to constant technological advancements.

Divided into two main categories, the market is primarily dominated by direct cool refrigerators and frost free refrigerators. Direct cool refrigerators encapsulate majority of the market share and are more popular amongst consumers. Additionally, the other popular sub segments are: single-door and double-door refrigerators, side-by-side refrigerators, and bottom-mounted refrigerators (a technology pioneered by Haier). Amongst these, the single-door and double-door conventional refrigerators are the most preferred ones in Indian households; however, the purchase pattern essentially depends on the needs and requirements of each family.

Refrigerator is one of the most significant categories for Haier and therefore, we have an elaborate range of products from the category present in the market. The latest introduction by Haier in the Indian market is the range of 8-in-1 convertible bottom-mounted refrigerators. The USP of this product is that the freezer can be converted into a fridge or back to freezer with eight convertible options within a time span of just 50 minutes.

The entire range comes with some exemplifying features such as twin inverter technology with 10 years warranty on fan motor and compressor, which automatically adjusts the cooling efficiency of the refrigerator and turbo icing technology for quick ice making in just 49 minutes.

Additionally, a unique advertising campaign was also initiated for this range of refrigerators following the product launch. Running with a tagline of India, ab Seedhe ki Aadat Daal lo, the TVC draws from the value addition and benefits of using a bottom-mounted refrigerator as against the traditional refrigerators. A bottom-mounted refrigerator is a refrigerator which gives the customer an advantage of no bending (reduces bending by 90 percent) versus normal top-mount refrigerators as in India the mostly used section is the refrigerator section that is on top. Hence making it a Seedha ref – Made for India.

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