Lockdown to have huge impact on heavy appliances sector: Godrej
Even after the curbs are lifted, social distancingnorms and an overall fear of the pandemic may keep people awayfrom the stores for some time, he said.
"The heavy appliances industry will be impacted by asignificant loss of up to 60 per cent in March and almost 100per cent in April. These two months put together contributeclose to 25 per cent of the annual revenue," Godrej AppliancesBusiness Head and EVP Kamal Nandi told .
The demand for products such as ACs, refrigerators andair coolers are usually high during this period, he said.
The Indian appliance and consumer electronics (ACE)market was at Rs 76,400 crore in 2019, according to a researchreport.
The economic uncertainty will also play a role inconsumer sentiment, bringing about a change in investmentpriorities, Nandi said.
Asked about preparations post the lockdown, he said,"Both the company and our trade partners are adequatelystocked to meet any immediate surge in demand. We are also inconstant touch with our vendors."
Relaxation for economic activities from April 20 isexpected to help, Nandi said. "Our own production units arewell geared to start functioning as per the governmentdirectives on social distancing and limited manpower," theofficial said.
Nandi also said while there will be a dent in salesacross channels, the online platform is likely to have a lowerimpact.
"We are already partnering with key online players andforesee more integration of offline and online trade in thetimes to come and are preparing for the same," he said. BSMRBT RBT