After the initial summer situation and the need for a pent-up, Panasonic expects a strong demand for cooling equipment. In the last 3-4 months, the company has seen a 25 percent growth in sales of air conditioners.
“We expect this trend to continue and we aim to close Q4 which registers more than 100 percent growth (QoQ). In the case of refrigerators, we expect to record 30 percent growth in refrigerators this summer. For the year ending March 31, 2021 we expect more than 40 percent growth for all consumer goods compared to 2019 (the year ending March 31, 2020) .We hope this trend will continue, “said Mansh Sharma, President & CEO, Panasonic India and SA.
Sharma explains that the epidemic made consumers aware of their purchases. The price proposal in terms of safety, comfort, convenience and connected experience is what consumers want while shopping for the items they use. “With the advent of the second wave, demand for all household appliances will continue to rise in line with the need for investment from last year. Assistants such as low-cost EMI, refunds, easy access will improve this requires a purchase price proposal.”However, given the market trend, Panasonic India plans to raise the price of ACs by 6-8 percent, while refrigerators will see an increase of 3-4 percent. This is due to an increase in production costs due to rising commodity costs over the past few months. “However, with the growth we have seen over the past few months, we are confident that the trend will remain stable and consistent. At the organizational level, we are trying to get higher costs in the end and not pass them on to our customers,” Sharma explained.
With the improvement of procurement efficiency, the imposition of import restrictions and the continuous measures of manufacturing, ‘shortage of goods’ will not be a long-term problem for the industry. To address the growing demand for cooling products for all rural and urban consumers, Panasonic has stockpiled and adopts marketing programs on offline and offline channels. To further simplify the purchasing information for partners and customers, open the WhatsApp Chatbot platform.
As a result of epidemics, landfills and other factors, the strong consumer industry saw a total loss of 25 percent. Panasonic registered a 10 percent growth rate in July-September 2020, in August contributing significantly to the Onam festival campaign. Apart from that, long-term consumer sales have resumed normal since Q3. “Guided by absolute demand, ‘Home-as-hub’ trends and favorable weather conditions – we are now seeing an increase in sales. However, we still have to close our finances this quarter and we will be able to better see ‘commercial renewals’ posted,” Sharma said.
A strong Japanese consumer brand manufactures almost all of its equipment in India at its Technopark plant in Jhajjar, Haryana. Currently, the company is well equipped to meet the needs of its customers, according to Sharma.