Indian consumer goods manufacturers, including those that produce ice cream, drinks, and cooling systems, are stepping up production, introducing new items, and increasing marketing expenditures to take advantage of the sweltering summer.
The most populous country in the world anticipates 10 to 20 heatwave days this year from April through June, as opposed to the typical four to eight days. Heatwave days are temperatures reaching at least 40 degrees Celsius in the plains. In certain cities in the western states of Maharashtra and Gujarat, the temperature has already risen above 40 degrees.
According to its managing director, B. Thiagarajan, appliance manufacturer Blue Star has introduced dozens of new home air conditioner items in response to the oppressive heat. The company hopes to raise revenue from that line of business by 25% this summer, compared with only a 5% increase the previous year. Ahead of the summer, the American ice cream company Baskin Robbins has introduced 20 new items in India.
Although the industry previously claimed that less than 10% of Indian households owned air conditioners, new product introductions from businesses like Johnson Controls-Hitachi Air Conditioning India and appliance producer Voltas, as well as the hotter summer months, are likely to increase that percentage.
“Purchasing an air conditioner is typically planned a few months. However, more realistic summertime expectations have forced those on the fence to buy, according to Deepak Jasani, head of retail research at HDFC Securities.
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