How are you looking at the summer season unfolding for your brand in terms of sales and overall growth?
The industry is expecting a prolonged summer season and, thus, continued demand for air conditioners and refrigerators. An air conditioner is no longer an aspirational product but a necessity. However, penetration continues to be at approximately 7.5 per cent in India. This holds immense growth potential for the AC industry.
This season, we are expecting that the AC market will grow 25 per cent over the season last year. At Panasonic, we are looking to grow by 40 per cent compared to the last AC season.
Which channels are working well for your brand in terms of generating traction and sales?
We have long embraced an omnichannel marketing strategy, blending digital, TV, print and outdoor advertising to effectively reach our consumers.
While digital and TV remain our primary channels, due to their broad reach and effectiveness in engaging consumers, our strategy encompasses all media to ensure a holistic consumer experience. For any major campaign, a 360-degree media approach is crucial, with a significant emphasis on both digital and TV.
How are you enhancing the customer experience both online and in-store to reflect the spirit of summer?
We stand out as one of the few brands that cover nearly all consumer touchpoints, allowing people to engage closely with our products. We extend beyond traditional distribution channels, including small dealers in Tier-2 and Tier-3 markets, as well as organised retail partners. Moreover, our extensive network includes exclusive stores where customers can explore a wide range of Panasonic products. Additionally, we have a strong presence on leading e-commerce platforms. We also have an exclusive Panasonic direct-to-consumer portal, enhancing accessibility for customers to purchase and experience our products.
What are some of the summer trends that you are anticipating this year in your industry that are expected to linger for long?
The increasing penetration of electricity, rising disposable incomes and people's aspirations towards improving the standard of living are driving demand for the appliances. We have also witnessed that people are looking to invest in products that are energy-efficient and offer value propositions in terms of smart and connected features that enhance their comfort and convenience. While metro cities traditionally have been driving sales, Tier-2 and Tier-3 places are emerging as promising markets with growing consumer aspirations and purchasing power. We expect this trend to prevail throughout this year and the coming years.
