Air conditioners, the second biggest category within air treatment products in terms of volume sales, traditionally enjoys the biggest proportion of its sales from February to May due to the summer season and the intensity of heat in India. However, in 2020, due to stringent lockdown imposed in the country from late March to May, all stores were shut and e-commerce players were not allowed to deliver products.
Volume sales of cooling fans witnessed strong decline in 2020 as the outbreak of COVID-19 had a negative effect on the performance of the housing sector, reducing the number of installations, and delayed upgrades by consumers. Cooling fans have a strong penetration in India and the steady growth witnessed in the review period, prior to the outbreak of COVID-19, was triggered either by the government’s PMAY scheme or by premium offerings from manufacturers.
Retail volume sales of air purifiers also declined in 2020 but to a lesser extent compared to appliances for cooling. It is thought that economic uncertainty and consumers’ tendency to save money were behind the decline, especially in the first half of the year.
Retail volume sales of air treatment products are expected to bounce back in 2021. Cooling appliances are expected to recover in 2021 as global temperatures surge, with sales returning to pre-COVID-19 levels during 2022.
Due to economic uncertainty, reduced disposable income, and job losses in the wake of COVID-19 and recession in India in 2020, consumers are likely to continue saving in the forecast period. According to the Euromonitor International Lifestyles Survey 2020, 54% of respondents said they intend to increase saving money in the next 12 months.
In 2020, electronics and appliance specialist retailers remained the dominant channel for air treatment products, although there was a greater shift towards e-commerce. E-commerce will continue to gain greater traction in the forecast period with consumers wishing to avoid visiting stores in fear of COVID-19 infection and also become more comfortable shopping online and with installation done later.
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This report originates from Passport, our Air Treatment Products research and analysis database.
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