Even though 2020 was very challenging due to the pandemic, it opened doors for new opportunities and innovation for the consumer durable industry. The first few months of lockdown were more challenging than the latter half of the year and proved to be favorable for those who could adjust to the evolving market realities. Once the unlocking started, it created new demands which led to the emergence of new product innovations. Customer centricity became the foremost priority as the white goods industry innovated new technologies for purification and sanitization, which are inevitable in the new normal.

Many industries have been impacted badly due to the pandemic but, it would be safe to say that the consumer durables industry is showing growth trends from a long-term perspective. According to a report, the home appliances and consumer electronics industry, (not including mobile handsets), is expected to increase by 50 lacs i.e Rs 1.5 lakh crore by 2025, from the present Rs 1 lakh crore. The reasons for the same could be more stable disposable incomes, rural electrification,  more than ever focus on work from home policies, and the government’s plans to offer production-linked incentives (PLI) to establish more and more manufacturing plants in India. With such potential growth opportunity, the industry and the brands are required to keep an extremely close watch on ever-evolving consumer needs, to drive their product innovations, and truly thrive in the post-pandemic world among their competition.

Here are the key consumer durable industry trends that are likely to be witnessed in post-pandemic world: