South Korean electronics producer Samsung says it’s trying to up its recreation within the Indian washer market, particularly within the tech-driven and large-capacity front-loading class.
“We now have a 20% market share within the total washer market within the nation. Within the entrance loading class, we command a 31% market share and the goal is to extend this share to 50% within the subsequent couple of quarters,” Saurabh Baishakhia, Sr. Director, Digital Home equipment Enterprise, Samsung India, instructed The Hindu.
In keeping with Mr. Baishakhia, about 10 million washing machines, value $2.4 billion, are bought in India in a yr, of which 35% are front-loading machines, a section that’s rising at 40% yearly, primarily pushed by 9 kg and above capability machines.
“In lots of merchandise, together with residence theatres, fridges, air conditioners, microwaves, and so on., we’re already doing properly out there. Washing machines is one class the place we nonetheless have to up our recreation in India. We’re concentrating on a 4X development within the gross sales of entrance loading washing machines this yr,’‘ he mentioned.
He additionally mentioned when the general washer trade was rising at mid single-digit, the corporate was concentrating on a a lot speedier development.
‘”An increasing number of households are aspiring to have front-loading washing machines. South is a big market with Karnataka rising at a quicker tempo,” he mentioned additional.
Giant capability shopping for was the distinguished development seen within the substitute market, he added. “The aspiration is to purchase the whole lot giant sized as of late, particularly after the pandemic. Be it giant TV units, giant fridges, large vehicles, giant properties and in addition giant washing machines. Customers are shopping for at present factoring their future wants and way of life as properly,” Mr. Baishakhia noticed.
