Consumers could face higher expenses during the upcoming festive season as leading home appliance manufacturers prepare to increase prices from October 1. Air conditioners, televisions, refrigerators and washing machines are among the products expected to become more expensive, with manufacturers citing rising input and operating costs.
AC Prices to See the Sharpest Increase
Air conditioners are expected to witness one of the biggest price hikes. Haier is set to raise AC prices by around 5–7%, while Voltas has reportedly informed its distributors about a similar increase. Blue Star is expected to raise prices by 5–8%.
LG, Daikin, Godrej and Bosch are also among the companies planning price increases in the AC segment.
Manufacturers are pointing to higher prices of key raw materials such as copper, aluminium and steel as major factors behind the increase. Rising crude oil prices and the depreciation of the Indian rupee are also adding pressure through higher production, logistics and import-related costs.
TVs May Become Significantly More Expensive
Televisions are another category likely to see a notable price increase. Higher memory chip costs and rising transportation expenses are among the key factors driving the increase.
Prices of smaller-screen televisions could rise by as much as 20% in some segments, while other models may see increases of around 10%.
Haier is also expected to increase prices of LED TVs, refrigerators and washing machines by up to 4%.
GST Cut May Offer Some Relief
Home appliance prices are estimated to be around 15% higher than during last year’s festive season. However, manufacturers argue that the impact on consumers will be lower after factoring in the 10% reduction in GST rates, bringing the effective increase to around 5%.
Retailers, meanwhile, say many businesses had anticipated the price hikes and stocked products in advance. This could temporarily limit the impact on consumers. However, some retailers remain concerned that higher prices could affect sales during the crucial festive shopping period.
With demand for consumer electronics and home appliances typically rising during the festive season, the coming weeks will show whether higher prices influence consumer spending and overall market demand.
