Understanding The Consumer Mindset

Bosch has been in the Indian kitchen and home appliances segment for a while now.

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Recently, they have introduced several consumer-centric products, making their presence felt strongly. In this kitchen special, we aim to understand their strategy better. Excerpts from our conversation with Gunjan Srivastava, MD & CEO, Bosch Household Appliances:

How would you rate the growth of the kitchen appliance market?

The growth rate continues to be between 8% and 12%. The growth story continues as most appliances remain underpenetrated in India. Many people are buying appliances for the first time. Significant growth also comes from upgrading - consumers might have bought a basic product version before and now upgrading to a newer one.

For example, upgrading from a semi-automatic to a fully automatic washing machine, a smaller to bigger refrigerator or adding a chimney and hob to the kitchen. As these factors drive the market, we expect the same growth rate to continue for the next five to ten years.