Buying home appliances like AC, Fridge, TV may cost 4-5% more this month and thereafter. Apart from cooling products like ACs, fridges, consumer electronics like microwaves and dishwashers. Prices are also expected to rise again in 6 months. People associated with the white goods industry say that the prices of raw materials like steel and copper have increased by 20-21% in the last 6 months. Its effect is visible on white goods. Earlier, in January-February, the prices of consumer electronics had increased. Home appliances prices have increased by 12%. In the first half of this year and are still expected to increase by 7-8%. A 3-5% increase can be seen in July.
Kamal Nandi, President of Consumer Electronics and Appliances Manufacturers Association (SIEMA) and Business Head and EVP, Godrej & Boyce, says that instead of increasing the prices of products once, many companies plan to increase them little by little in July, August, September. is. Commodity prices have increased significantly. Although the prices of polymers have come down slightly, the industry is compelled to increase the prices of cooling products and home appliances due to an increase in the overall cost.
Manish Sharma, President, and CEO, Panasonic India & South Asia, says that the prices of ACs and refrigerators may increase by 4-5% in July, given the rising cost. The cost of manufacturing white goods has increased due to an increase in raw material prices.
Kamal Nandi, President of, Consumer Electronics and Appliances Manufacturers Association, says that due to the rise in the prices of steel, copper, and aluminum, home appliance companies have to increase the prices. Prices will be increased little by little over three months.
After a good first three months of the year, April-June was not good for the white goods industry. Due to the second wave of the Covid epidemic. There was a local lockdown across the country and the sale of AC, fridges could not be done even in the peak season of summer. According to Siema sources, sales of home appliances halved in April. There were absolutely no sales in May and about 70% sales in June. Now that the monsoon has arrived, there is not much of a sale in the cooling category.
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