NEW DELHI: Panasonic India is targeting double-digit growth this festive season, driven by smart ACs and the home appliances category.
Speaking with TNIE, Fumiyasu Fujimori, managing director, Panasonic Marketing India, said, on account of positive consumer sentiment and the gradual uptick in demand for value-based appliances such as smart 4K Android TVs, connected range of ACs (HU series), among others, Panasonic India is expecting substantial growth in sales across consumer durables during this festive season. The company has seen double-digit growth in terms of value, recording 32% growth Jan-Jul 22 as compared to Jan-Jul 21.
“For instance, this season, we observed a record demand for Air Conditioners as we witnessed more than 45% growth vs Jan-Jul 21, with maximum contribution coming from 4-star and 5-star inverter ACs,” said Fujimori.
Similarly, appliances that help multi-task such as Microwaves and Washing machines also recorded double digit growth when compared to Jan-Jul 21, he added.
Talking about the evolving consumer trends, Fujimori noted that consumers across rural and urban areas have now adjusted to a post-pandemic lifestyle in which safety and value proposition is taking precedence in their purchase decisions.
“We are seeing a rise in demand for value proposition appliances that are easy to use (allowing them to multitask), energy-efficient, connected (smart), and healthy & hygienic.”
The consumer durables major has recently launched a range of consumer appliances including 20 new models of LED TVs – comprising both 4K and Smart TV portfolio, Smart Washing Machines among others.
Fujimori also mentioned that the supply chain disruptions caused by the socio-political unrest in several parts of the world, seems to be settling gradually.
“However, we are keeping a close eye on the factors that might affect demand in the short term but anticipate stable business growth driven by positive consumer sentiments,” he said.