Stories
Appliance Prices Soar: How to Beat Hikes This Festive Season
- •Prices for ACs, TVs, and washing machines are set to rise by 5-8% from October due to increased costs of raw materials like copper, steel, and aluminum, along with higher freight charges.
- •This marks the third round of price hikes in the consumer electronics industry this year, with manufacturers like Haier India and Blue Star already implementing increases.
- •Consumers can potentially save money by purchasing appliances early, as dealers currently hold inventory bought at older prices.
- •This existing inventory is expected to last for about one to one-and-a-half months, potentially covering much of the Diwali shopping period.
- •After Diwali, new, higher prices will take full effect, with some TV prices potentially increasing by up to 20% for smaller screens and 10% for larger screens.
Key Questions Answered
Consumer electronics and appliances such as air-conditioners, LED TVs, and washing machines are set to see price hikes ranging from 5% to 8% starting in October. Air-conditioners and deep-freezers are experiencing the steepest increases, while select TVs, washing machines, and refrigerators face smaller increases of 2% to 4%.
Manufacturers attribute the price increases to sustained pressure on input and logistics costs. Key factors include rising global prices for commodities like copper, steel, aluminium, and crude oil derivatives, alongside climbing freight charges and currency movements.
Buyers can save money by shopping early to take advantage of existing dealer inventory that was stocked at older, pre-hike prices. Industry executives note that this pipeline of old-price inventory is expected to last for about a month to a month-and-a-half, covering a significant portion of the Diwali shopping period before new prices take full effect.
