The heatwave has revived air conditioner sales. The run-up to Eidul Azha, to be celebrated in the third week of June, has boosted sales of deep freezers and refrigerators. This surge in demand persists despite a 30-40% rise in prices and high power tariffs.
Due to the overwhelming buyer response, dealers have been forced to close their shops early in the afternoon.
According to dealers, domestic appliance sales fell short of the target by 30-40% in 2023, despite the rupee’s recovery against the dollar from September 10. The dollar then traded at Rs 307, while the current rate is Rs 288.
Due to ongoing exams and rising humidity, consumers strive to provide a comfortable environment for their children and elderly parents by purchasing air conditioners and room coolers.
People are hastening to buy deep freezers and refrigerators to avoid disappointment closer to Eid. Currently, air conditioners top the sales list, followed by refrigerators and deep freezers.
The relentless heatwave has shifted the market dynamics in the manufacturers’ favour, with customers willing to pay high prices for ACs and coolers.
“About 50-60% of refrigerators, ACs, deep freezers, and room coolers have already been sold out over the last 45 days,” Sohail Malik Shafi, an official of the Karachi Electronic Dealers Association, claimed.
Two types of buyers are flooding the market. The wealthy look for high-end ACs compatible with their solar energy systems, while others seek low-cost ACs to alleviate their children’s discomfort from the heat.
Despite load shedding and rising appliance prices, people are content to buy even old ACs for relief. A one-ton inverter AC now costs Rs100,000, up from Rs60,000 last year. A deep freezer and an eight cubic feet fridge now cost Rs60,000 compared to Rs35,000-40,000 last year.
