Digitisation, propelled by conducive government policies, paves way for yet another resilient year for the consumer durables industry.
1) New-age technologies will continue to define consumer durables : AI/ML, IoT, robotics are already being used to develop value-proposition appliances that are smart, convenient and safe to use.
2)Health and wellness: Increased consciousness on a healthy lifestyle has created demand for appliances that ensure well-being.
∙ Indoor air quality is a cause of concern among (especially) metro-dwellers. Today air purification technology across ACs not only cools the room, but also ensures safer indoor AQI ,with technologies like nanoeX
3)DIY to skill-up – Do-it-yourself (DIY) has encouraged consumers to hone their skills. Here, value-proposition home appliances such as large storage refrigerators and microwaves are helping consumers.
4) Click-and -mortar to scale up sales — Research online and shop offline will continue to be the trend. Therefore, omni-channel or click-and-mortar will be the way forward.
5)Manufacture here, manufacture smart — Conducive GoI policies and manufacturing capabilities will continue to drive made-in-India products. Manufacturing advances to get smart, as customers opt for automation and better OEE (overall equipment effectiveness) from machines.
(Sharma is Chairman and CEO, Panasonic India)