The heatwave has sparked a revival in the sluggish sales of air conditioners, coinciding with the approach of Eidul Azha in the third week of June. This, combined with the scorching temperatures, has driven sales of deep freezers and refrigerators, despite a notable 30-40% increase in prices and the burden of high power tariffs.
Dealers have witnessed an overwhelming response from buyers, prompting some to close their shops in the afternoon due to the rush. Sales of domestic appliances fell short of targets by 30-40% in 2023, despite the rupee’s recovery against the dollar.
Consumers, aiming to provide a comfortable environment for studying and caring for their elderly during ongoing exams and rising humidity, are investing in air conditioners and room coolers. Some are even resorting to financing or purchasing used items to meet their needs.
The demand for deep freezers and refrigerators has surged as people aim to avoid potential disappointment closer to Eidul Azha. The market dynamics have shifted in favor of manufacturers, with customers willing to pay premium prices for cooling appliances.
Despite load shedding and rising prices, people are content with purchasing even old air conditioners for some respite from the heat. Inverter ACs, deep freezers, and refrigerators have seen significant price hikes compared to the previous year.
While the production of refrigerators, deep freezers, and ACs has declined in recent months, dealers remain hopeful for increased demand if prices and power rates decrease.
