Chilling Effect: The Surprising Dip in Fridge Market Sales During Eid-ul-Azha

Sales of refrigerators rise ahead of Eid-ul-Azha.That's what happened in the last few years. But this year, it changed as everything is so costly, so people just spend their hard-earned money on necessary items. Though refrigerators are now necessary items. One and half decades back it was marketed as luxury goods which were bought by upper income people. But nowadays, people from every aspect buy it. This time, the price of refrigerators rose from five thousand to fifteen thousand. This makes a big impact on the market. Officers of these brands said, due to dollar shortage they cannot import the refrigerators that are needed in the market and also necessary parts cannot be bought for the same reasons. So the price goes up.

Around 2 million units of fridges are sold annually in the country while the industry is growing at 15-20% according to sector insiders. Normally, this religious occasion was around 35% of the total annual sales taking place across the country at this time.

Unlike previous seasons, this time customer turnout has so far remained low. There are mainly two reasons- static earnings of fixed income groups amid a high rate of inflation and an erosion in savings.

There are so many brands like Walton, Marcel, Electra, Hitachi, Sharp, Whirlpool, LG, Toshiba, Transtec, Vision and Jamuna that have supplied the market with a huge quantity of their freezing products.