Panasonic India expects pent-up demand to sustain till next quarter (IANS Special)

Updated November 26, 2020

social social social social Panasonic India expects pent-up demand to sustain till next quarter (IANS Special)
New Delhi, Nov 26 (IANS) After achieving more than 30 per cent growth in festive season sales, consumer durable major Panasonic India expects the pent-up demand momentum to continue at least till the next quarter.

Additionally, the company plans to augment demand by introducing its proprietary air conditioning technology - 'nanoe-X' that inhibits growth of pathogen, including the novel coronavirus

While talking to IANS, Panasonic India and South Asia President and CEO Manish Sharma said the company has introduced the advanced purification technology that is capable of inhibiting 99.99 per cent bacteria and viruses.

Accordingly, the company expects its 'nanoe-X' technology also known as nature's detergent to be a game-changer in the home appliances space.

The new technology is said to cleanse indoor air by producing nano-sized hydroxyl radicals which effectively inhibits the growth of certain pollutants such as allergens, bacteria, viruses, including the coronavirus, moulds, odours, and certain hazardous substances.

"As a first step, we have introduced this revolutionary technology in ACs and moving forward we aim to incorporate this into our other products as well," he said.

"We will continue to pursue the potential of this technology to address possible risks associated with air pollution such as new pathogenic microorganisms as well."

According to Sharma, the pandemic has changed the scope and range of home appliances.

"Consumers today are seeking for value proposition and hence, a comfortable, convenient and connected experience that adds value to their lifestyle," he cited.

"Consumer durable products have indeed evolved from conventional to Smart, aiding in multi-tasking."

On the demand front, Sharma pointed out that overall home appliances segment has seen an accelerated pick-up.

"As a category, home appliances segment is on a rise due to pent-up demand. We are hopeful that this demand will sustain in the next quarter as well,"

"Pent-up demand is consistent and a major contributor to the overall sales for the industry. Confined within homes, consumers are opting for essential value based appliances that help them multitask. This quarter trends will give us a more accurate picture of the same."

In terms of the just concluded festive sales, he disclosed that this season has been positive for the company, which was primarily driven by refrigerators and washing machines categories.

"These products have seen a 35 per cent growth this festive season due to WFH and DIY cooking trends. On the other hand, the demand for LEDs have surpassed the supply mainly attributed to the high sellout during the early months of unlock," Sharma said.

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