Financial Daily from THE HINDU group of publications
Monday, Aug 19, 2002
Industry & Economy
Air-conditioners & Refrigerators
Marketing - Marketing Research
Fridge market warms up with 15 pc growth in Apr-June
NEW DELHI, Aug. 18
ADVERSE economic conditions do not seem to have affected the refrigerator segment. Compared to last year's marginal growth, the category has seen a 15 per cent growth during the quarter (April to June 2002).
"We expect to close the current year by a total growth of 15 per cent in the category," says a Consumer Electronics and TV Manufacturers Association (Cetma) official.
Comparing the current figures to the marginal growth seen in the category last year, Cetma says, "People are getting out of the recessionary mode."
Besides, the prolonged summer has helped the industry, say analysts. In fact, in order to meet the growing competition and strengthen their market position, some of the players are understood to have decreased their prices by almost 10 per cent in frost-free (FF) category.
"The refrigerator category can be divided clearly into two - frost-free (FF) and direct cool (DC)," according the research analysts. Explaining further, Mr Deepak Singh, Group Project Manager of research agency, NFO-MBL India Pvt Ltd, told Business Line, while FF dominates the market in the West and South, DC category enjoys a stronger position in the northern market.
Commenting on the growth of the two categories in the respective regions, he opined, "The market position enjoyed by the FF category in the West and the South could be because of the more progressive nature of the market. The growth in the FF category is more."
According to research agencies, LG Electronics is doing well in frost-free (31 per cent market share), while Whirlpool of India has further consolidated its position in both categories, especially direct cool with the market share of almost 29 per cent.
As per ORG-MARG for the quarter (April-June), Whirlpool has maintained its market share (FF+DC consolidated) of 28 per cent when compared to the previous quarter (January-March) this year.
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