The Onam market of kitchen appliances in the State is a whopping ` 200-300 crore, with a growth rate of 20-25 per cent. Nowadays people are spending more on kitchen modification. According to sources in the industry, in terms of expenditure in a house, people spend second highest on the kitchen after the living room.
The consumer durable market which has been down by 10-15 percent in recent times is now looking at kitchen appliances to keep things afloat.
“The kitchen chimney and hob, remain the most sought after product at the moment. We make an annual turn over of about ` 25 crore from it. The growth rate in this segment is 100-125 per cent. The price range of kitchen chimney is ` 6000-30,000 and of hob is ` 4000-30,000. As part of kitchen modernisation, people are increasingly buying them,” said Peter Pittappillil, Managing Director, Pittappillil Agencies.
Both people in urban as well as rural cenres are looking at upgrading their kitchen. They are ready to spend on cabinets, waste disposal units, dish washer, microwave oven, chimneys and coffee makers. The modification can cost you anything from ` 1.5 lakhs to ` 10 lakhs, depending on the materials used.
As people grow health conscious they prefer to buy water purifiers of premium brands. Being a new business segment it records a growth rate of 50 percent annually.To the surprise of many retailers, induction cooker emerged as a new business segment with a growth rate of 100-125 per cent.
“The sudden spurt in the cooking gas price persuaded buyers to go for induction cooker. Branded induction cooker is the latest trend in this segment. Majority of these induction cookers are made in China, and are priced at `1000 each. The low price has also helped this segment to gather momentum,”said Jose J Ponnezhath, State President, Dealers Association of TV and Appliances.
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