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In The Next Five Years, The Indian Appliance Industry May Usher In An Outbreak

May 28, 2018

In recent days, a per capita disposable income of India has reached 9,000 yuan, and the management of Haier in India has caused discussion. Huang Decheng, product director of Haier South Asia, said that in the next five years, the Indian appliance industry may usher in an outbreak.


India's income rises Home appliance industry welcomes opportunities


The wages of ordinary workers in India are equivalent to about one-third of our domestic workers, but their work efficiency is relatively low. This is equivalent to offsetting the labor cost savings. At the same time, as India's relevant industrial chain is not perfect, many key components need to be purchased from domestic sources, which in turn adds some costs.


Based on the above reasons, although the data released by the official shows that in 2017, the per capita disposable income of India reached 9,000 yuan, but the consumption level of home appliances is still relatively low. Huang Decheng, product director of Hainan Region, said: “The prices of the mainstream products we sell here are mainly around RMB 2,400. Products with a price of RMB 10,000 are still a luxury product for Indians. Although there are sales every month, they are sold. The amount is not big, after all, the market demand has not arrived yet."


He introduced that in the Indian market, Haier is working hard on the products in the mid-to-high end mainstream price segment to improve its competitiveness, while at the same time it will do iterations to meet consumer demand trends. Haier's products have shown a compound growth rate of 30%, while India's entire home appliance industry has grown at a rate of about 10%. Huang Decheng believes that from the perspective of the development path of China's home appliance industry, the home appliance industry in China has experienced explosive growth for several years. However, from the point of view of India's development, it has not yet reached that level. In the next five years, the home appliance industry in India will usher in a golden opportunity period.


The brand has passed the popular quality


Lajpat Nagar, a shopping district in southern Delhi, is a very prosperous neighborhood where branded products from all over the world come together. They can be found in clothing, shoes and hats, home appliances, and electronics. Similar to domestic Suning and Gome, India's home appliance stores also like to get together. EP and Vijay Sales are the two most influential home appliance chain brands.


Unlike domestic home appliance stores, which are arranged according to the brand's exhibition area, India always mixes the products of the same grade and the same volume, allowing consumers to visually compare them.


In both stores, the reporter saw Haier's refrigerators being put together with Samsung, LG, Hitachi, and India's two local brands, and several products were placed in a prominent position. In the EP store, Haier's products were placed in an entire row in the light refrigerator area. The recognition was very high and it was very eye-catching.


Haier’s local employee, Mr Murari, told the Qilu Evening News that only high-margin products and high-margin products can enter these two major shopping malls in India. Haier is the only Chinese brand that can be placed in large home appliance chain stores in India.


Mr Ram, an EP store sales manager, told reporters that Haier is very popular with consumers in this store, and sales have been high. They like to sell Haier's products.


Mr Murari said that although EP is a regional chain brand, its influence and sales in the region are very large. Haier's products only entered EP 7 years ago, and sales have been among the best. It is reported that Haier is now in the top five sales in the entire Indian market.


Huang Decheng, product director of Hainan Region, introduced that the weather in India this year is very special. It should have been very hot in April, but this year it is over-rained and very cool. In April, Indian industry reports showed that air-conditioning sales fell by 15%, and refrigerator sales remained almost flat. No growth. South Korea's Samsung, LG and other brands are negative growth, only China's refrigerators, air conditioners in the contrarian increase. From January to April, air-conditioning increased by 40%, and refrigerators increased by 70%.


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