Soon, more power to the buyers of Fans!

Rohit Mathur, Past Chairman-IFMA, President ( Fans, Water Heaters & Pumps), Usha International

Summers are here already!

After two consecutive bad innings owing to the ongoing pandemic during the last two years, we are in for a good summer season. Fans, as well as other cooling appliances’ industry, would heave a sigh of relief from the disruptions of the last two years as we look forward to a good start leading to healthy growth in the year ahead. Though a bit delayed, however, the summer period augurs well to be a good long one for the industry.

The last two years witnessed a latent demand for the fans category owing to the Pandemic that prompted a period of uncertainty affecting adversely on the purchasing power of the consumers, sluggish real estate industry, deferment of home renovations, and a smaller share of wallet for the not so urgent product upgrade in their home. As we transitioned through this black swan event and learned to live with the ‘new normal‘; the economy and industries are getting back on their feet, and consumers spendings are on the rise. It seems the worst is already over, and the fan industry would have a ‘Golden year! Surely looking forward to it.

This would be the ‘Golden year’ for the fan industry not just in terms of growing demand for fans, but also because we shall see a massive structural shift in the product categories and technologies in ceiling fans owing to the impending changes and roll over into the BEE star rating regime from July 2022. The new BEE norms will be instrumental in developing innovative products armed with BLDC technology and motors. This new range shall offer energy saving up to 60% over a conventional fan.

The new BEE-star rating regime will give more power to the consumer to know and choose the product as per their needs and desires. I am looking at it as an opportunity to enhance the consumers’ experience with better technology products, especially now, when the consumer enjoys experimenting and is looking for fans that have top-of-the-line technology, look aesthetically good, and are energy efficient.

The new energy efficiency regime shall bring in an era of greater sustainability to the world, a choice for a consumer to be Green and contribute to a reduced carbon footprint. We are all set to up the game, and I am hopeful that this would prove to be an impetus for consumers to upgrade thus giving a further boost to the industry growth.
In sum, we are in for exciting times and it is on us, the industry people to usher into the opportunity as the sunshine!