The sweltering heat of the summer has brought a great demand and increased sales of air conditioners and room coolers. The increase has been so dramatic that 20,000 air conditioning units worth Rs. 1 Billion have been sold just in the past week.
The sudden skyrocketed demand has allowed electronic retailers to clear out their inventories and charge on money or premium on spot sales.
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The sales of split air conditioners and room coolers have bumped up to over 200% in comparison to the previous month. This is a direct result of the unbearable heat of the summer during Ramzan, combined with frequent and extended power cuts.
A lot of well-known and popular brands – like Haier, Kenwood, and others – have become short in supply as a result of this huge demand, creating room for newer brands to move in and improve their sales. A lot of buyers and particular about the brand they buy, focusing more on popular ones, but the price differences have forced them to go for newer, less popular brands.
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The high, on spot sale payments and lack of reputable brands has led to increased purchase of room coolers. Naturally, this is being taken advantage of, as dealers are charging and extra Rs. 5000 more on the initial price of Rs. 11,000.
About the demand surge, retailers state: “Parents are desperate to ensure well-being of their children by installing air conditioner in at least one room of their house.” The deadly heat wave has claimed many lives and has resulted in increased panic and concern among individuals for the safety of their families.
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Mohammad Rizwan, president of the Karachi Electronics and Small Traders Association, said, “Cash-rich people are buying air conditioners while low-income groups room coolers. I have never seen such unprecedented demand in my life for both items.”
Large Scale Manufacturing data shows that there has been a 5% increase in the production of air conditioners to 41,265 units in April 2015 as compared to 39,348 units in April 2014.
Rizwan has also claimed that the demand is unlikely to fall, unless the weather becomes more pleasant or rainfall finally arrives and provides some relief from the blistering heat.
