According to reports from NDTV Profit, Haier Appliances India expects 35-40% sales growth during this festive season compared to the previous year. Chief Executive NS Satish highlighted that the company is experiencing strong demand across all product categories and regions, with growth being recorded in refrigerators, air conditioners, and washing machines. The company sees particular opportunities in washing machines and LED televisions during this period, with Satish noting that demand is rising across both urban and rural India and there is no difference between the two markets.
As reported by NDTV Profit, to capitalize on festive demand, Haier has launched a five-door refrigerator and a three-drum washing machine - both for the first time in India. The company is seeing strong demand from both urban and rural India, with Satish noting there is no difference between the two markets. On sales channels, offline and e-commerce are growing at similar pace, with younger Gen-Z buyers preferring online platforms while older customers still visit retail stores. EMI purchases have also gained ground in recent years, with younger buyers more comfortable taking on higher monthly installments.
According to NDTV Profit, Satish acknowledged that the war in the Gulf has pushed up crude prices, resulting in increased input costs. The company has not been able to pass the full increase to consumers and is absorbing part of it through internal optimization. To offset pressure, Haier is pushing premium products and focusing on value rather than engaging in price wars, as described by Satish as a challenger brand that aims to offer value without compromising quality. The company avoids cutting prices, as Satish explained that cutting prices would mean compromising on quality.
As reported by NDTV Profit, Haier operates two plants in India and is investing heavily in expanding local production. The company has done substantial backward integration, with its Noida plant housing a printed circuit board manufacturing unit for better quality control. Currently, exports account for 1-2% of revenue, but Satish sees good potential to ship from the Indian base as domestic demand has been so high that capacity has fallen short. The company sources copper and aluminium globally while most parts are supplied locally, with some components still imported.
