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Fear of 2nd COVID wave, rising commodity prices may dampen consumer sentiment: Godrej Appliances’ Kamal Nandi

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The IMD has predicted above normal temperatures across the country in summer 2021. How will this and the likely second COVID-19 wave impact sales of cooling products?

The IMD has predicted above normal temperatures across the country in summer 2021. How will this and the likely second COVID-19 wave impact sales of cooling products?
Kamal Nandi, Business Head & Executive Vice President of Godrej Appliances, believes that the fear of a second COVID-19 wave and rising commodity prices are impacting demand.
"There is definitely a fear of the second wave of COVID-19 pandemic across the country. We are also seeing lockdown restrictions increasing in many parts of the country. This is definitely going to dampen the sentiment of consumers specifically during this time,” he said in an interview to CNBC-TV18.
“Another factor which is impacting very much is the rise in commodity prices. There is more than 20 percent rise in commodity prices which is impacting the final price to the consumer because of which there is an impact on demand,” he added.
However, he believes that a rise in summer temperature will result in higher demand for cooling products, specifically in March.
Nilesh Gupta, Managing Partner of Vijay Sales, too, expects a bumper summer season if COVID doesn't lead to fresh lockdowns. He also said that the demand for air conditioners and air coolers is picking up.
Gupta added that there has been a reduction in footfalls in the last 10 days. “As far as footfalls are concerned, there is a slight reduction in the last 10 days, but not a major reduction. However, the conversion is high. So, the number of footfalls has gone down but the quality of transactions has increased a lot,” he said.
Watch video for more.