With temperatures increasing, people have already begun their hunt for ways and means to keep cool this summer. Hence the sale of ACs and refrigerators are on an upswing now. Consumer electronic companies like Videocon, LG, Haier and Electrolux are sprucing up their product offerings in refrigerators with new launches and product innovations. exchange4media takes stock of what is in the market this summer.
Videocon has launched nine new refrigerators. Keeping in mind consumers’ demand for more storage space, tte company has added an extra 10 litres space in the new 190 litres series, while also coming up with unique advantages like crisper cooling, germ free, energy efficient compressor, deodoriser, water dispenser, etc. The new models are priced between Rs 7,900 and Rs 11,490.
Jyoti Shekhar, Vice-President, Marketing, Videocon Industries, said, “Consumer choices are becoming increasingly sophisticated with each passing year. Keeping this in mind, we have developed a new patented technology – crisper cooling – which regulates the air flow in the bottom half of the refrigerator, allowing the fruits and vegetables to remain fresh for a longer period.”
“Last year, Videocon’s refrigerator volumes grew by 23 per cent, whereas the industry was 10 per cent. With so many added features across a wide range of products Videocon is looking to cater to the needs of both first time buyers as well as return consumers this year. We are targeting a 15 per cent share of the market in the refrigerator category this year” Shekhar added.
LG Electronics has also announced the launch of seven new frost free and 13 models in the direct cool range refrigerators in the country. Moon B Shin, MD, LGEIL, said, “This new product range would increase the division’s market share in both the product categories. LG enjoys 26 per cent share in the Indian refrigerator market and the division hopes to sell around 1.5 million refrigerators this year and increase its market share to 28 per cent.”
Amitabh Tiwari, Business Group Head-Consumer Appliances & Kitchen Appliances, LGEIL, said, “This new line-up comes with a host of new features that have been introduced as a result of the company’s sharp focus on bringing ‘consumer relevant innovation’ to Indian homes. It has a host of unique benefits aimed at enhancing performance.”
Haier, too, has spruced up its refrigerator range with nine new models in both frost free and direct cool categories. The company is targeting a market share of 7-8 per cent market in the refrigerator category in FY09.
RT Rajan, Director, Sales & Marketing, Haier Appliances India, said, “2007 was a year of consolidation for Haier. We are backed by our global experience and a strong technological bandwidth. Having established the distribution network and understood the requirements of the Indian market over the past three years, it is now time for us to become more aggressive in the Indian market. So far we had been spending around 10 per cent of our revenues on promotions and brand building initiatives. We will be spending a lot more beginning this quarter. Haier India would also spend Rs 23 crore on campaigns and promotions over the next two months. We have also rolled out a nationwide campaign that includes TVC, print, radio and below-the-line activities.”
“Our products are our brand ambassadors. Haier has built its brand on quality. Haier is an example of how an Asian company can build a brand and take it beyond its national market,” Ranjan further said.
Electrolux has also launched an all new range of Deo Fresh Direct Cool and Frost free refrigerator series in Delhi. The company is looking to extend its brand positioning of ‘Keep food fresh’ to this new range as well.
Anirudh Dhoot, CEO, Electrolux, said, “We at Electrolux have always had a motive of providing our customers with the best possible solutions to make their lives easy and convenient. These products have been specifically designed keeping in mind the feedback provided by customers and our dealers.”
Dhoot further said, “We have the most attractive product range in direct cool and frost free series and we plan to increase our market share in the refrigeration business this year. This summer we will be investing heavily in promoting our refrigerators through TVCs, print, outdoor, as well as extensive promotion via the web.”