Lockdown to have huge impact on heavy appliances sector: Godrej


KOLKATA: The heavy appliances sector will take a massive beating due to the coronavirus-induced lockdown and the muted sales preceding it, a top official of Godrej Appliances said on Sunday.

Even after the curbs are lifted, social distancing norms and an overall fear of the pandemic may keep people away from the stores for some time, he said.

“The heavy appliances industry will be impacted by a significant loss of up to 60 per cent in March and almost 100 per cent in April. These two months put together contribute close to 25 per cent of the annual revenue,” Godrej Appliances Business Head and EVP Kamal Nandi told.

The demand for products such as ACs, refrigerators and air coolers are usually high during this period, he said.

The Indian appliance and consumer electronics (ACE)market was at Rs 76,400 crore in 2019, according to a research report.

The economic uncertainty will also play a role in consumer sentiment, bringing about a change in investment priorities, Nandi said.

Asked about preparations post the lockdown, he said,”Both the company and our trade partners are adequately stocked to meet any immediate surge in demand. We are also inconstant touch with our vendors.”

Relaxation for economic activities from April 20 is expected to help, Nandi said. “Our own production units are well geared to start functioning as per the government directives on social distancing and limited manpower,” the official said.

Nandi also said while there will be a dent in sales across channels, the online platform is likely to have a lower impact.

“We are already partnering with key online players and foresee more integration of offline and online trade in the times to come and are preparing for the same,” he said.





Source link

Share This Post

Share on whatsapp
Share on facebook
Share on twitter
Share on pinterest
Share on reddit
Share on telegram
Share on email
Share on linkedin
Share on print

Posted By :

22 thoughts on “Lockdown to have huge impact on heavy appliances sector: Godrej”

Leave a Comment

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

More to Explore

Want to Write Such Blogs?

Just Fill in Your Details to get started

Want to Write such blogs?

Join in like all our authors and be a part of this community

small_c_popup.png

Hello

We are happy you are here

[wppb-login]

Oh No!

It seems like you have forgotten your password. Don’t worry tell us your email id or username and we’ll try to help
Share on whatsapp
Share on twitter
Share on facebook
Share on pinterest
Share on reddit
Share on telegram
Share on email
Share on linkedin
Share on print
error: Alert: Content is protected !!
Secured By miniOrange