Godrej Appliances aims for 20% growth in Q1 FY 2022-23
Bhubaneswar: Odisha is one of the fast-evolving markets in India and consumption has been going up significantly. Godrej Appliances has a stronghold in this market for cooling categories, said Mr Kamal Nandi, Business Head and Executive Vice President – Godrej Appliances, part of Godrej & Boyce.
“Last 2 summers were heavily impacted by lockdown, therefore this summer we have seen 100% growth over last summer and expecting 20% growth in Q1 FY 2022-23 in comparison to the pre-pandemic Q1 FY 2019-20,” said Mr Nandi.
“Godrej Appliances currently has the largest number of Excusive Brand Outlets in Odisha in comparison to other states in India; and we are aiming to expand our network further across retail stores, presence in modern trade outlets and exclusive chain stores by 10-15% year-on-year.
Overall, the cooling segment has performed well this year, given the pent-up demand due to previous lockdowns, and the heatwave leading to discretionary spends being diverted towards cooling products. We have also witnessed a trend of hybrid work culture post the pandemic that has increased demand for Air Conditioners. Consumers are using ACs for a longer duration of time at home, and have therefore showcased higher intent towards purchasing energy-efficient ACs with 5-Star ratings to save more on their electricity cost. This year we have witnessed, around 40% volume growth in sales of 5 Star ACs as compared to pre pandemic period in Odisha,” he further added.