Microwave oven sales increased by 34%! Sales of these home appliances in India hit a record high

In 2020, due to the impact of the new crown epidemic, the Indian government announced a lockdown, and home isolation and home working and studying became the norm, which led to a significant increase in sales of household appliances. From July to December 2020, sales of household appliances hit a ten-year high.

GFK (market research company) tracking data shows that from July to December, sales of air conditioners increased by 25%, refrigerators increased by 15%, microwave ovens increased by 39%, washing machines increased by 24%, and smartphones increased by 11% .

While the epidemic has boosted the sales of household appliances, it has also changed the consumption habits of Indian people. Due to long-term home isolation, Indian people pay more attention to energy saving when purchasing household appliances, and products that can effectively save energy and electricity are more popular.

When it comes to the choice of washing machine products, out of fear of the new coronavirus, healthy consumers prefer washing machines with disinfection and sterilization functions.

The substantial growth in the home appliance market has made many large enterprises eager to take action. Some large electrical appliance companies have begun to continuously launch innovative products in order to expand their market share, and companies that have performed well in other fields are also interested in expanding their business scope and extending their tentacles into the home appliance field.

Vijay Babu, vice president of LG Electronics India, India's largest appliance maker , said it will launch the highest number of innovative products in the past four to five years in categories such as washing machines and refrigerators .

Chinese brand Realme will launch multiple 5G smartphones at different price points, personal care products (such as trimmers , wearable devices and TWS audio products) . In addition, Xiaomi also plans to enter the new category of home appliances.

Large enterprises have natural advantages such as strong capital, advanced technology and good brand effect. Once these large enterprises enter the market, the Indian home appliance market will soon be divided up by several large enterprises like the smartphone market, quickly forming a monopoly, and small and medium-sized sellers will lose their competitive advantage. Therefore, small and medium-sized sellers must seize the opportunity and adjust their business strategies in a timely manner.

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