Refrigerator sales jump ahead of Eid-ul-Azha

Refrigerator sales have soared across the country, ahead of Eid-ul-Azha, due to growing demands among consumers, and that matched the discounted prices, and offers from local and foreign brands.

Local and foreign refrigerator companies have been enjoying a heyday for the last one week as sales picked up ahead of Eid-ul-Azha. 

Higher income people helped propel the sale of freezers, mostly the deep freezers, as consumers tend to stock excess sacrificial meat, industry people have said.

Targeting the middle income group, freeze companies eye to sell around 14 lakh to 15 lakh units of their products ahead of this Eid.

Once dominated by foreign brands, lion's share of the refrigerator market is now being held by local companies such as Walton, Marcel, Jamuna, Minister, and Vision.

The sale of foreign brands like LG, Esquire, Singer, Sharp, Whirlpool, and Unitech have also increased in view of the Eid, but they lag behind local manufacturers due mainly to the price factor, consumers say.

During visits to showrooms of different refrigerator companies, it was found that sales of deep fridges are much higher than normal ones.

Refrigerator companies are offering scratch cards, gifts, and  cash discounts to woo customers.

While visiting different markets, including the Bangabandhu National Stadium Market, the largest electronics and electrical market in the capital, people from different sections of the society were seen making their choices at different shops, and inquiring the offers from the companies, and trying to find the ones fitting their budget.

Talking to Dhaka Tribune, showroom manager of Esquire Electronics Limited at Bangabandhu Stadium Market said: “We are now offering high quality, and international standard refrigerators. We have a huge customer base, so we have no time to take rest as the outlet is experiencing a huge number of customers, and sales have also increased significantly.”

Exclusive dealer of Singer, Ali Asgar Khan at Progati Sharani told Dhaka Tribune, “We have already started having a good response from the customers”.

Khan also said  in the last two to three days the sales have increased significantly. The overall response is also very positive, compared to the same period of the previous year, he adds.

He says, demand for deep freezes is more than normal freezes, as people prefer mid to big sized deep freezes to preserve sacrificial meat.

Mariam Islam, a private service holder, and her husband Rasel Ahmed were looking for a refrigerator because her existing one is quite small to accommodate extra stuff like meat. She said, “We have planned to celebrate the Eid festival in Dhaka this year, and we need to have a bigger refrigerator to keep the sacrificial meat”.

“Most of the refrigerator companies announced Eid offers, and discounts, marking the upcoming Eid-ul-Azha. So it is the proper time to buy a refrigerator at reasonably lower price” she added.   

Walton, a leading local manufacturer of refrigerators, has undertaken massive preparations in an attempt to post a record sale of refrigerators ahead of Eid-ul-Azha. 

The company has set a target of selling 10 lakh units of refrigerators in the month of July and August. Now the company is closer to the target, as their sales see a boom. 

Talking to Dhaka Tribune, Walton chief executive officer (refrigerator) Golam Murshed said, ahead of last year’s Eid-ul-Azha nearly 6 lakh units of refrigerators were sold.

This year, the sales target has been set at 10 lakh refrigerators, he adds.

Walton has taken up major initiatives just after the Eid-ul-Fitr to achieve their goal.  Walton increased its freeze production to meet the growing demand from the market, says Murshed. 

He says they have adequate stocks at every outlet across the country, with around 50 new models that come with special offers.

Local manufacturing company Minister-Myone Group has set a target of selling one lakh units of refrigerators ahead of this EID.

Head of brand and communication of Minister-Myone Group, K. M. G. Kibria told Dhaka Tribune, “Considering the demands of local customers, we are now offering high quality, and world standard refrigerators. We are having a good response from the customers compared to last year.”

Samsung, a foreign company, has also launched an exchange offer, and a cash back offer, on their refrigerators ahead of Eid-ul-Azha. The exchange offer applies for up to a maximum of Tk20,000, and the cash back offer is applicable for up to Tk50,000 on their refrigerators.

Samsung sells around 40 units of refrigerator everyday from its eight showrooms, and outlets at the Bangabandhu National Stadium Market, says Md Jahid Hasan, sales executive of Samsung.  

To grab the Eid customers, many brands are also offering installment facilities. Customers can take home a refrigerator through a minimum down payment. Customers can also avail 0% interest up to the period of 6 months.

Executive director of Walton Uday Kakim told Dhaka Tribune, “The demand for refrigerators has increased many times due to good quality locally made refrigerators, low prices, and the improved financial abilities of people”.

Offers and prices

Walton

Walton has 310 showrooms, and 12,000 outlets across the country. The country’s electronics giant now offers refrigerator buyers a chance to become millionaires during Eid-ul-Azha. If a customer buys a Walton refrigerator under the company’s ‘Digital campaign-Season 4’, he or she would have the chance to win Tk 10 lakh every day. 

Walton is also offering cashbacks, discounts, and installment facilities on various refrigerators. The prices range from Tk12,200 to Tk65,000.

Samsung 

Samsung Electronics Bangladesh has launched the ‘Meet the Eid’ campaign, which will continue till August 11. During the campaign, customers who purchase refrigerators of certain models and types, will get free of cost, a TV or washing machine or microwave.

In addition, the customers will get the benefit of cashbacks of Tk50,000, and exchange offers up to Tk 20,000.

The price ranges of Samsung refrigerator start from Tk39,900 to Tk2,94,900. 

Singer

Singer has also launched a ‘Singer Eid Freeze Fever’ campaign through which buyers will be able to avail up to100% discount through regular scratch cards.

Discounts of Tk20,000 will be available on purchasing refrigerators. In addition, interested buyers can buy refrigerators with a down payment of only Tk4,500. 

The price range of singer refrigerator start from Tk22,500 to Tk85,990. 

Esquire Electronics

Esquire Electronics Ltd is the authorized sole distributor of the Japanese giant electronics brands GENERAL and SHARP. Esquire is offering cash back of up to Tk25,000 on their refrigerators. 

The price ranges of GENERAL and SHARP brand refrigerators vary from Tk16,900 to Tk3,50,000.