As per the GfK Market Intelligence Offline Retail Sales Tracking, air conditioners, refrigerators and air coolers have shown YoY value growth of 53 per cent, 34 per cent and 88 per cent respectively for MAT (Moving Annual Total) Feb 23*. Do you see this sustained growth for the rest of summer?
As a category, air conditioners saw phenomenal growth in 2022 after two years of recession caused by the pandemic. Year 2023 has been a roller coaster ride. While Jan-Feb were much better than anticipated, the season took an unexpected turn mid-March because of unseasonal rains. As of end-April the season is starting to look up in North India. Meanwhile, we are witnessing strong demand coming from the east zone because of strong heat and high humidity levels.
Overall, the general anticipation is a right shift in the season. Most weather reports are indicating temperatures shooting up from mid-May onwards. This in turn should result in demand for cooling products to go up.
Please share more about your plans to reach out to consumers this summer season.
This story is from the 3rd June 2023 edition of Business World India.
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This story is from the 3rd June 2023 edition of Business World India.
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