Pune: Pune: Consumers are rushing to pre-book air conditioners, televisions and refrigerators ahead of an expected price rise. Many consumer durable makers are set to increase prices by 5-8% from Oct owing to an increase in input costs.“Even a small percentage increase can lead to a significant rise in overall prices. I have decided to book an air conditioner for my new home now,” said Deepak Merchant, a resident of Wanowrie.Local retailers said some buyers are locking in current prices and scheduling delivery after Pitru Paksha. “They want to avoid making the purchase during the period but also want to protect themselves against the expected price hike,” said an electronics retailer in Wakad.Kirti Shinde, a resident of Kothrud, said, “We will also get Diwali bonus in a few weeks so we can take delivery post that.”Kajal Damani, a resident of Hadapsar, was waiting for the festive sales to buy a new television. “It seems like overall effective discounts will come down if there is a price hike. We took a decision to book it from now and take delivery during Navaratri.”Consumer durable makers said price rises are inevitable and they will be reflected in the market after new stock reaches stores. Kamal Nandi, business head at the appliances business of Godrej Enterprises Group, said, “Given the rising commodities prices the input costs have increased by 8-10% since our last price hike, resulting in margin pressure across categories. Consequently, we will be taking a 5-7% price increase in Oct, starting with air conditioners and refrigerators.”To ease the impact of price increases and support consumer demand during the festive period, Panasonic is offering no-cost EMI, extended warranty, long-term finance and cashback offers across the range. “We have taken a measured approach in response to the unprecedented increase in material costs. For Panasonic ACs, we have implemented a price increase in the range of 6–8%,” said Abhishek Verma, head of product marketing & planning (AC category), Panasonic Life Solutions India.Ravi Saxena, Wonderchef founder and CEO, said, “We are planning for a price increase of about 7 to 10% sometime in Oct.”Aquib Sheikh from Pune Electronics at Mohammad Wadi said, “We are seeing a lot of customers coming to the store and asking about price revisions. We can’t say when old stock will run out, but going by the sales currently, I think by mid-Oct we should have new stocks with revised prices.”A manager at Pravin Agencies, an electronics store at Lullanagar, said, “There is good demand for large home appliances like ACs, washing machines etc. People are booking in anticipation of price hikes. Our overall discounting strategy will remain the same despite price rises.”
