To increase its market share in the premium category of fans, Indian consumer electrical equipment manufacturer Bajaj Electricals has introduced ceiling fans with Super5 TuffTM technology.
The new premium category fans will have contemporary designs and features including a self-guard capacitor, fierroshield bearing, dura coat copper motor, and anti-corrosive protection with the range starting from ₹4,975.
Bajaj Electricals has a single-digit market share in the premium fan categories including entry-level, premium, and super-premium.
The fan industry consists of 65 per cent ceiling fans, 30 per cent table pedestal fans, and 5 per cent exhaust. The large ceiling fan category constitutes the economy segment (₹1,600-1,700) and the popular segment (₹2,400 and below). The entry-level premium fans constitute 20 per cent, the premium constitutes 15 per cent, and the super-premium is 5 per cent.
Ravindra Singh Negi, Chief Operating Officer-Consumer Products, Bajaj Electricals Limited to businessline, “When we look at Bajaj as a brand, we have stood for trust and a strong legacy among consumers. In our segments, we are very strongly indexed towards popular and economy as a category in ceiling fans and we have a double-digit market share.”
Negi added, “We have done a lot of research that has gone into our research and development, the consumer looks at design, colours, and durability in the premium category. We have got everything clubbed into our fan. The consumer today is not just looking for the comfort of getting air but the overall décor of the room and we have catered to that.”
The company stated that it has products with features for every consumer segment.
Negi said, “In the popular and economy segment, we have given for the first time three years warranty. In the premium segment, we have come up with fans that are of new designs and have a five-year warranty. The consumer today is looking for good service, colour material and finish, energy saving, and durability in fans. We have invested heavily in colour material and finish for our fans and have 650 service franchises covering 18,500 pincodes across the country.”
Demand for fans
The company witnessed a dip in demand for fans due to sudden rainfall in March.
Negi added, “In March to June, about 45 to 50 per cent of the consumer offtake happens and today the fan offtake is staggered throughout the year as consumers look at it as a part of the replacement. Last couple of weeks, because of incessant rains in March, we saw a little slowdown in the offtake but now with summer picking up and heat across the country, we are seeing better offtake. We are optimistic that the summer products will be better than expected.”