Summer came before time: Demand for cooling products, and soft drinks increased, and prices increased by 7-25% in February

Posted on 28th Feb 2023 02:10 pm by rohit kumar

AC-fridge sales have increased by more than 10% this month. Soft drinks, milk drinks, water, and ice cream have also started selling more. Due to this, their prices have increased by 7-25%. Sales are expected to increase further in the coming months. In such a situation, companies have started increasing production.

 

The day temperature in the northern and western parts of the country is touching the record for many years. Usually, this does not happen in February. Due to this, the demand for products used in summer has started increasing. As a result, LG has started working in three shifts. Companies like Godrej Appliances and Panasonic are also increasing the production of AC fridges by 100%.

 

These companies are preparing to increase the supply

 

PepsiCo: Varun Beverages, the largest franchisee of PepsiCo worldwide, has started increasing inventory since December last year. In India, the company is also setting up two new plants in Madhya Pradesh and Rajasthan, along with increasing the capacity of 6 existing plants.

 

LG India: Kulbhushan Bhardwaj, Senior General Manager, said, “Despite inflation, the demand for consumer durables has not decreased. Meanwhile, sales have increased by more than 10% due to the early onset of summer. In such a situation, we have started increasing production.

 

Godrej Appliances: Business Head and Executive Vice President Kamal Nandi said, “We estimate that the sales of all cooling appliances will increase by about 40% this summer as compared to last year.”

 

Panasonic: According to Fumiyasu Fujimori, MD, Panasonic Marketing India, sales of cooling products such as ACs and fridges have increased by 35% since April 2022. As the summer progresses, it is expected to increase further.

 

FMCG companies also started increasing production Along with white goods like AC-fridge, the production of FMCG products is also being increased. Analysts at consultancy firm Redseer said in a note, "2023 is expected to see strong sales of some summer products." The note is based on the sales outlook of companies such as Hindustan Unilever, Nestle, ITC, and Spencer's Retail.

 

Also Read: The hot weather can spoil the health of wheat, there is a possibility of 11.21 million tonnes of production in the current rabi season

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