Consumer Durables Channel Checks - Pent-Up Demand Not Comparable To Last Year: Nirmal Bang
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Nirmal Bang Report
Our channel checks across major Indian cities indicate that business sentiment has still not improved meaningfully across product categories.
Although the vaccination program has picked up pace, still there are fears of a possible third Covid-19 wave among the channel partners, leading to low stocking.
Pent-up demand is not equal to last year’s level and business-to-business demand is recovering with a gradual opening up.
There are expectations of demand revival in the upcoming festive season.
The air conditioner segment saw strong offtake in July 2021 due to the extended summer season, which would have resulted in inventory level normalising, in our view.
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